MUMBAI: India and the United Arab Emirates plan to set up a food corridor, which is likely to attract investments of $2 billion, Commerce and Industry Minister Shri Piyush Goyal said on October 7 at the 12th India The statement was made at a press conference after the UAE High-Level Task Meeting. Focus on investment in Mumbai.
“Food processing facilities in India will enable access to high quality products utilizing Indian farmers to be sold in the UAE. We are looking at taking it forward faster.” Mr. Goyal said.
The minister noted that investments in the program are likely to be made over the next two to two-and-a-half years. The plan also covers markets outside the UAE.
The minister said the initial commitment made by the UAE towards investment in the food processing industry and food park logistics was approximately $2 billion, which would be needed to transport materials to the UAE. He said there is.
“We have established a small working group comprising the concerned central and state governments and the UAE to advance the establishment of a food corridor between the two countries on a mission mode basis,” he said.