US agri-food behemoth Cargill has outlined plans to invest US$240m in India over the next five years.

Cargill, which has business-to-business and consumer-facing operations in India, said the money would be put towards its “core businesses including, edible oil, cocoa and chocolates, starches and sweeteners and animal nutrition”.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The company said the investment would “provide employment to 1,300 people and help farmers in the country”. At the time of writing, Cargill had not responded to a request for comment from just-food to provide more details on the plans and on how many more staff would be employed at the company.

In a statement, Peter Van Deursen, the CEO of Cargill’s operations across Asia Pacific, 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’s businesses in India include the marketing of edible oil brands including Leonardo olive oil and Gemini sunflower oil.

See Also:

Last week, India-based consumer goods giant ITC set out plans to set up 20 food manufacturing plants across 12 states in the country.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

ITC, which owns brands including Bingo snacks and Yippee noodles, signed a memorandum of understanding with India’s Ministry of Food Processing Industries to invest INR100bn (US$1.54bn) in the expansion of the company’s domestic production and logistics network.