Davos [Switzerland], January 21 : Marking a significant development for India at the World Economic Forum (WEF), Union Minister for Food Processing Industries, Chirag Paswan, announced that India has secured an investment of USD 250 million from Belgium based AB InBev in India's beverage sector, which will span over the next two to three years.
Speaking toon the sidelines of WEF meetings in Davos, the Union Minister stated that the company will sign a Memorandum of Understanding (MoU) in due time.
The Union Minister informed that states such as Maharashtra, Uttar Pradesh and other South Indian states are attracting investments at WEF.
He said, "Through food processing industries, we did have some further collaboration globally in terms of beverages. In the sector of beverages, we had an announcement of an investment of around 250 million dollars from AB InBev. In the coming two to three years, they'll be investing around 250 million dollars in our country in various states in the sector of beverages."
"These are the investments that we are looking forward to from the World Economic Forum. Investments have been happening in Maharashtra, Uttar Pradesh, and various parts of South India. In different states, they will be signing their MoU's in due course of time," he added.
The Union Minister stated that he had highlighted India's commitment to fostering global collaboration during his address at the WEF.
Paswan stressed that the WEF serves as an ideal platform for India to present its concerns, suggestions, and solutions, asserting the country's strong stance on international cooperation.
"India has been very clear in terms of global collaboration and I think our representation at Davos every year asserts our commitment towards global collaboration where, you know, we want the whole world to progress together," he said.
He also reiterated Prime Minister Narendra Modi's vision of positioning India as a dynamic international market.
"We want to present India at an international market where we can help each other with new technologies and new collaborations," Paswan explained.
He emphasised the country's openness to partnerships on a global scale.
Highlighting the Food Processing Ministry's efforts, Paswan pointed to initiatives like World Food India, which offers a platform for countries to exchange ideas, technologies, and innovative solutions.
"At one platform under one roof, you know there are all the possible technologies, possible innovations and startup ideas to be exchanged with each other. So that is the kind of collaboration idea that India has," the Union Minister stated.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor