The World Economic Forum (WEF), supports the Punjab government to build and strengthen a more sustainable Agri sector.
The venture is set to support Rs.10,000 farmers and procure 150,000 tonnes from farmers every year, with a committed investment of INR 523 crore.
To facilitate the growth of the Food Processing plants through the 3 Mega Food Parks at Fazilka, Ludhiana (Ladhowal) and Phagwara, the government offers a strong infra ecosystem.
The State also houses over 153 Agriculture Produce Market (in the form of Committees / Mandis, 3110 Purchase Centers and 5 Agri Export Zone).
Punjab is also in the process of setting up primary processing centers at Abohar, Hoshiarpur, Sri Amritsar Sahib, and Talwandi Sabo to support the companies investing in the Food Parks.
To invest in the sector, many leading companies have started hitching the opportunity offered by the state. Sukhjit Mega Food Park (Phagwara) is investing INR 152 crore for their maize processing facility, to help boost the state government’s crop diversification efforts.
Ludhiana Beverages (Coca Cola) is planning a further expansion of INR 200-300 crore in Hoshiarpur, and Lulu Group of UAE has acquired an existing Meat Processing plant in Derabassi.
While these investments are actively contributing to the state’s economic growth and employment generation, as well as progress for the farming community, the state is also aggressively pursuing the policy of promoting entrepreneurship to further its development agenda.
A large number of Punjab-based startups are making it big in the Agri sector globally.