Indore-headquartered Patanjali Meals — a part of yoga guru Ramdev-backed Patanjali Ayurved — on Friday introduced it has signed a memorandum of understanding (MoU) the Union Ministry of Meals Processing Industries (MoFPI), reflecting its long-term dedication to strengthening the nation’s meals processing ecosystem.
The pact involvs deliberate investments value Rs 1,000 crore throughout states together with Uttarakhand, Uttar Pradesh, Madhya Pradesh, Maharashtra, Karnataka and Odisha, stated the FMCG firm.
Patanjali Meals says pact with MoFPI to result in creation of seven,000 jobs
It additionally famous that the initiative is “poised to create a major socio-economic influence, with the potential to generate over 2,000 direct and 5,000 oblique jobs”.
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This, it stated, reinforces its dedication to inclusive progress within the nation’s meals processing sector.
Earlier on Friday, Patanjali Meals shares ended 1.7 per cent decrease at Rs 590.1 apiece on BSE in a Mumbai market the place benchmarks continued to fall for the fifth session in a row.
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Key issues to find out about India’s meals processing business
The home meals processing business is estimated to be value Rs 3 lakh crore, contributing about 2.5 per cent to the nation’s gross home product (GDP), as per estimates.
It is among the many largest meals processing industries globally, pushed by the nation’s sturdy agricultural base.
India is the biggest producer of milk and spices, and among the many largest growers of fruits, greens and pulses.
The home business has been increasing radually at a compound annual progress charge (CAGR) to the tune of 12.5 per cent, already estimated to assist round 70 lakh direct and oblique jobs.
Processed meals constitutes about one-fifth of the nation’s agricultural exports amidst rising international demand.
A slew of presidency schemes — together with Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) and PM Formalisation of Micro Meals Processing Enterprises (PMFME) — are supporting areas starting from infrastructure improvement and chilly chains to mega meals parks and higher meals security.
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