US agribusiness titan Cargill will increase its investments in India. Cargill will invest 240 million dollars in edible oil, cocoa and chocolates, starches and sweeteners and animal nutrition businesses over the next 5 years.
Cargill, a leading food and agriculture company, announced on the 6th of November that it is investing US$240m in India over the next 5 years. The announcement was made at the World Food India Conference in New Delhi, by Peter Van Deursen, Chief Executive Officer, Cargill Asia Pacific at a signing ceremony of a Memorandum of Understanding (MOU).The added investment will be in Cargill’s core businesses including, edible oil, cocoa and chocolates, starches and sweeteners and animal nutrition in India. In addition, it will provide employment to 1,300 people and help farmers in the country. The company said the new investments will add to the food safety and economic development of the country and benefit the food processing and agriculture industries.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. With the growing population and changing consumer trends, Cargill is committed to nourishing the people of India in a safe, sustainable and responsible manner.”
Last year, Cargill inaugurated its first wet corn milling plant in India; set up with an investment of US$100 million. The company also inaugurated a new dairy feed mill in Bathinda, Punjab. Cargill also opened its largest business services center in Bengaluru in 2015 employing around 2,000 people.