Earlier this month, Cargill announced plans to invest $240 million in India over the next 5 years. The funds are for India’s food safety and economic development and will be focused on the food processing and agriculture industries.
Specifically, Cargill’s investment will involve the company’s own product categories, including animal nutrition, chocolate, cocoa, edible oils, starches and sweeteners.
“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,” says Peter Van Deursen, chief executive officer, Cargill Asia Pacific.
The investment is expected to add about 1,300 jobs and support India’s farming industry.