Just days after India jumped 30 ranks in the World Banks Doing Business Report, Prime Minister Narendra Modi on Friday enticed global investors to do business in India as it was “one of the fastest growing economies” in the world.

In his address after inaugurating the World Food India 2017 at Vigyan Bhawan in the national capital, Modi said it was an opportune time for global businesses to invest in the country.

“India has jumped 30 ranks this year in the World Bank’s (Ease of) Doing Business rankings. India was ranked number one in the world in 2016 in greenfield investment.

“India is also rapidly progressing on the Global Innovation Index, Global Logistics Index and Global Competitiveness Index,” Modi told the gathering of global businessmen at the inauguration of World Food India 2017 here.

Read more: India jumps 30 ranks to 100th in World Bank’s ease of doing business list

Noting that private sector participation has been increasing in many segments of the value chain, Modi said more investment was required in contract farming, raw material sourcing and creating agri linkages.

“This is a clear opportunity for global chains… There are opportunities in post-harvest management, like primary processing and storage, preservation infra, cold chain and refrigerated transportation,” he said.

“There is also immense potential for food processing and value addition in areas such as organic & fortified foods,” he said further.

Highlighting that food processing has the solution to nutrition security, Modi said coarse grains and millets have high nutritional value and can withstand adverse agro-climatic conditions.

“Can we take up a venture based on these? This will raise incomes of farmers and also enhance nutrition levels,” he said.

Touted to be the biggest congregation of global investors and business leaders of major food companies, the three-day event is being organised by the Food Processing Industries Ministry.

Apart from representatives of 28 states, the event would also see participation of 18 ministerial and business delegations, nearly 50 global CEOs along with CEOs of all leading domestic food processing companies.