Food Processing Sector’s share in country’s total FDI inflows at just 1.5 per cent : Ministry

The Ministry of Food Processing has claimed that the sector’s share in whole Overseas Immediate Financial commitment (FDI) inflows in the country is pegged at just about 1.five % and additional investments are necessary for in general expansion of the sector.

Infact, the FDI inflows in the foods processing sector declined by fifty four for every cent in 2020-21 as opposed to the prior fiscal.

In a composed reply, Minister of State for Food Processing Industries Prahlad Singh Patel educated Rajya Sabha that FDI in the foods processing sector stood at Rs 2,934.twelve crore in 2020-21 as opposed to Rs 6,414.sixty seven crore in the prior fiscal. In 2018, FDI in the foods processing sector stood at Rs 4430.44 crore.

“The share of FDI in the Food Processing sector is only 1.five for every cent of whole FDI inflows and the sector needs additional investments both equally domestic as perfectly as Overseas direct expenditure. The Ministry of Food Processing Industries (MoFPI) is employing a Central Sector scheme Pradhan Mantri Kisan Sampada Yojana (PMKSY) since 2016-seventeen for in general expansion and growth of the foods processing sector like for boosting expenditure,” he mentioned in his reply.

The federal government will allow a hundred % FDI in foods processing.

Also, via the PM Formalisation of Micro Food Processing Enterprises Plan (PM FME), the Ministry ideas to guidance 2 lakh micro foods processing units via credit history joined subsidy based mostly on One District One Product (ODOP) classification.

Below the ODOP scheme, so far the Ministry has permitted 137 “one of a kind items” in 710 districts across 35 States and UTs.

In the meantime, in a different composed reply the Ministry educated the Rajya Sabha, that as of October 31, “a whole of 122 Primary Processing Centres with processing ability of 8500 MT, Dry Warehouse ability of 116450 MT, Chilly Storage ability of 56520 MT and deep freezer ability of 1750 MT have been permitted for help in 41 Mega Food Parks.” This was beneath the Pradhan Mantri Kisan Sampada Yojana.