Global Food comp Cargill to invest Rs 1500 crore in India

One of the global food major company, Cargill said on Monday that it is going to invest an amount of Rs 1,500 crore in India over next five years.

“Cargill, a leading food and agriculture company, announced today that it is investing $240 million (equivalent to Rs 1,500 crore) in India over the next 5 years,” a company statement said.

The announcement was made at the World Food India Conference by Cargill Asia Pacific Chief Executive Officer Peter Van Deursen at a MoU signing ceremony in the presence of Food Processing Minister Harsimrat Kaur Badal.

“The added investment will be in Cargill’s core businesses including, edible oil, cocoa and chocolates, starches and sweeteners and animal nutrition in India,” the statement said.

Van Deursen said, “India is an important market for us and this increased investment demonstrates our commitment to the country and the development of its agriculture and food processing industry.”