Davos, Jan 24 (PTI) A large number of global food and beverage companies want to set up their plants in India and also develop new products in partnership with Indian youth besides bringing their existing products, Union minister Chirag Paswan said here.

Speaking to PTI during the five-day World Economic Forum Annual Meeting that ended on Friday, the minister said, "almost all business leaders I have met here see India as an investment destination and I can see a trust in their eyes for India as a country that can take them forward." "India also believes in moving forward together in collaboration with others," he said.

The minister for food processing industries said India has the capacity to become the global food basket.

"Whatever were the areas of concern, we are strongly working on those fronts. One of the biggest concern was post-harvest losses and a lot of work has been done to control those losses by way of creating more cold storages and logistics. Food processing sector itself has a key role in reducing post-harvest losses," he added.

"It hurts so much to see farmers throwing their onions, tomatoes and other produce on roads, but if we process those items we can increase their longevity. We have done a lot of work on how to connect them with food processing sector," he said.

Our target is to double the size of the food processing market by 2032, he added.

"This sector is growing very fast and that would further expand our capacity and boost our manufacturing capabilities. As this growth happens, we will be able to realise the dream of Prime Minister Narendra Modi to make India a global food basket," he added.

"I can see a lot of enthusiasm among the big companies in this sector for India. Many of them have told me about their investment and expansion plans. Many have also shown interest in R&D, innovation and startup capabilities available in India in this sector," Paswan said.

"Overall, I feel that India offers a complete package where you can invest at all levels. As these investments take place and the sector grows, we would march towards becoming the world food basket," he said.

There are so many produces available in Bihar, be it bananas from my constituency Hajipur, litchi from Muzaffarpur, mangoes from Bhagalpur or makhana from Mithila, which have huge potential if we set up processing units in the state. This will not only provide monetary benefits to farmers, but also create new job opportunities. At the same time, it will give a new identity to the state at national and international levels.

Our diversity is also our strength and we have so many diverse varieties of food products from north to south and from east to west, be it litti-chokha in Bihar, makke ki roti and sarson saag in Punjab, idli and dosa in South and khakhra paapad in West. Many of these are known and liked globally also.

Demand for Indian food products, he said, is growing globally and we must cater to that.

"Prime Minister Modi and I have this goal to ensure that every dining table in the world must have at least one Indian food product," he said.

Talking about the Modi government's investor-friendly policies, Paswan said the kind of ecosystem we have created in India for investments is making sure that we do complete hand-holding of the investors at every level to ensure ease of doing business.

"Those who are already invested in India have told me here about their expansion plans also. For example, AB InBev has announced an investment of USD 250 million in different states of India. I could see positivity and enthusiasm in all of them. Not only they want to come to India with their existing products, they also want to develop new products by partnering with Indian youth for R&D," he added.

On budget expectations, the minister said he expects the budget would again strengthen the country's economy and give a further boost to its development. PTI BJ HVA

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