Godrej Agrovet signs MoU with MoFPI to strengthen food processing & innovation

Godrej Agrovet Limited, one of India's largest diversified agri-food businesses, today signed a non-binding Memorandum of Understanding (MoU) with the Ministry of Food Processing Industries (MoFPI), Government of India. Signed on the sidelines of World Food India 2025, this proposed investment of INR 960 Crore is a significant step in the company's journey towards enhancing its food processing capabilities through state-of-the-art manufacturing facilities and an R&D center.

Sunil Kataria, CEO & MD, Godrej Agrovet Limited, said, "The MoU is in line with our long-term strategy of strengthening our agri-food processing and distribution capabilities. By investing in upstream infrastructure and R&D, our aim is to create sustainable value across the supply chain while contributing to the upliftment of the ecosystem. We are grateful for the support from MoFPI and committed to advancing India's food processing capabilities and agricultural innovation."

Signed in the presence of Shri Avinash Joshi, IAS, Secretary, Ministry of Food Processing Industries and Rakesh Swami, Group President - Corporate Affairs, Godrej Industries Group, under the MoU, Godrej Agrovet will set up manufacturing and processing facilities along with an upstream R&D center. Focused on the company's Oil Palm and Pet Food businesses, the investment spans across the states of Andhra Pradesh, Assam, Tripura, Telangana, and Maharashtra.

Commenting on the signing of MoU, Shri Avinash Joshi, IAS, Secretary, Ministry of Food Processing Industries said, "We are delighted to partner with Godrej Agrovet. Today's MoU reaffirms our shared commitment to strengthening India's agri-food ecosystem and advancing rural development goals. As a key enabler of the National Mission on Edible Oils - Oil Palm, with a strong legacy of innovation in food processing, Godrej Agrovet continues to play a pivotal role in driving India's nutrition, agri-economy, and emerging consumer segments. We look forward to working closely with them to accelerate this mission."

"Driven by the MoFPI's forward-looking policies and the government's strong commitment to a resilient agri-food ecosystem, India's food processing sector is attracting unprecedented investments. Equally inspiring is MoFPI's resolve to dispel misconceptions around packaged foods while fostering innovation-led growth. At Godrej Industries Group, we are proud to be partners in this transformation, and today's MoU stands as a strong testimony to that shared vision.," added Rakesh Swami, Group President - Corporate Affairs, Godrej Industries Group.

Expected to be completed by FY2026-27, the facilities will also contribute to regional development and skill enhancement through significant employment generation.

Shares of Godrej Agrovet Limited was last trading in BSE at Rs. 716.40 as compared to the previous close of Rs. 686.60. The total number of shares traded during the day was 83997 in over 3648 trades.

The stock hit an intraday high of Rs. 724.90 and intraday low of 673.25. The net turnover during the day was Rs. 59795366.00.

Source : Equity Bulls

Keywords

GodrejAgrovet INE850D01014 MoU MoFPI FoodProcessing Innovation