Tata, Godrej Agrovet Sign Rs 2,960 Cr Food Ministry Pact

• Tata Consumer, Godrej Agrovet sign Rs 2,960 Cr MoU with MoFPI.
• Tata to invest Rs 2,000 Cr, Godrej Rs 960 Cr in food processing.
• Godrej targets oil palm, pet food; aims for FY27 completion.

Tata Consumer Products and Godrej Agrovet have signed a non-binding MoU with India’s Ministry of Food Processing Industries (MoFPI) which accounts for a combined investment of Rs 2,960 crore. As a part of the Investment Promotion Activity for World Food India 2025, Tata Consumer Products made a commitment of up to Rs 2,000 crore for five years, with further details to be revealed once finalized.

Godrej Agrovet has committed Rs 960 crore to build manufacturing and processing facilities and an upstream R&D center as well as to develop the oil palm and pet food businesses in Andhra Pradesh, Assam, Tripura, Telangana, and Maharashtra, with the project expected to be completed by FY27.

Also Read: Reliance, Coca-Cola Bottlers to Invest Rs 65,000 Cr in Food

The Memorandum of Understanding, witnessed by MoFPI Secretary Avinash Joshi and Godrej's Group President Rakesh Swami, is an initiative to energize the food processing sector of India. Godrej's infusion of capital is anticipated to generate employment and upgradation of the hinterland.

Sunil Kataria, CEO of Godrej Agrovet, Put it like, "The first priority for us will be to revamp infrastructure and our research and we will see the results in the form of sustainable value creation all over the supply chain." Joshi expressed gratitude to Godrej for being part of the National Mission on Edible Oils – Oil Palm, adding, “This MoU is a signal of our pledge to the agri-food ecosystem and rural development in India.”

Swami referred to MoFPI’s measures to dispel the myths about packaged foods and create a start-up ecosystem. The plan is in line with the Indian food processing market, which is expected to reach USD 535 billion by 2025, thus, through increased processing capacity and employment, supporting both economic and food/nutritional goals.