The U.S. food and agriculture company Cargill has announced that it is investing USD 240 m in India over the next five years. The announcement was made at the World Food India Conference by Peter Van Deursen, CEO, Cargill Asia Pacific at a signing ceremony of a Memorandum of Understanding (MOU) with India Ministry of Food Processing Industries.

The added investment will be in Cargill’s core businesses including edible oil, cocoa and chocolates, starches and sweeteners and animal nutrition in India. It will provide employment to 1,300 people and help farmers in the country. Last year, Cargill inaugurated its first wet corn milling plant in India; set up with an investment of USD 100 m. The company also inaugurated a new dairy feed mill in Bathinda, Punjab. Cargill also opened its largest business services centre in Bengaluru in 2015 employing around 2,000 people.

Van Deursen, said, “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. Cargill is committed to nourishing the people of India in a safe, sustainable and responsible manner. The Ministry for Food ­Processing Industries is to be complimented for organizing an event the scale of World Food India as it lets us collaborate with partners in the public and ­private sectors.