On 17th April 2021, Italy launched the first ever Mega Food Park project, including food processing facilities in India. The pilot project “The Mega Food Park” was launched over a virtual platform in the presence of Vincenzo de Luca, Ambassador of Italy to India, and Neena Malothra, the Ambassador of India to Italy.
- This is a part of the two side plan to expand the ties in the background of the proposed visit of Prime Minister Narendra Modi.
- A Letter of Intent between the ICE Office in Mumbai and Fanidhar Mega Food Park, in Gujarat was also signed during the launch event.
- To create synergy between agriculture and industry of both India and Italy.
- To focus on the research and development of new and efficient technologies in the sector.
i.The project is promoted by the Italian Embassy, New Delhi and ICE Office, Mumbai.
ii.The project also involves the Emilia Romagna Region, SACE, ANIMA (Italian Association representing companies operating in the metalworking sector) and FederUnacoma (Italian Agricultural Machinery Federation of Manufacturers).
Note – By 2030, Indian annual household consumption to treble, making India 5th largest consumer.
The Mega Food Park Project:
Mega Food Park project is implemented by a Special Purpose Vehicle (SPV), which is a Body Corporate registered under the Companies Act.
The scheme is aimed to provide a mechanism to link agricultural production to the market by bringing together farmers, processors and retailers to ensure maximizing value addition, minimizing wastage, increasing farmers income and creating employment opportunities.
Prime Minister– Mario Draghi
Currency– Italian lira