FDI in food processing sector rose 24 per cent in India 2017-18

India’s Ministry of Food Processing Industry under the leadership of Union minister Harsimrat Kaur Badal is leading the food processing industry in India from the front. The ministry has announced that Foreign Direct Investment (FDI) in the food processing sector in India rose by 24 per cent in 2017-18.

FDI

FDI in food processing sector rose 24 per cent in India 2017-18

The ministry has also explained the highlights of the year passed. These include the addition of five Mega Food Park, taking the total in the country to 14. These were created to offer modern infrastructure facilities for food processing along the value chain from farm to market, with the Government of India providing financial assistance of up to Rs. 50.00 crore per Mega Food Park project.

The ministry has also taken other initiatives which include the creation/expansion of food processing preservation capacities and the implementation of an integrated cold chain and value addition infrastructure. This is aiming to capture all the post-harvest losses of both horticultural and non-horticultural produce and provide enhanced remuneration to farmers.

An International Conference on Recent Advances in Food Processing Technology (iCRAFPT) was organised at Indian Institute of Food Processing Technology in Tamilnadu. The conference saw encouraging participation from speakers, both national and international, and provided a platform for knowledge sharing and meaningful discussion among the industry, academia, researchers and farmers.

The financial allocation for Ministry of Food Processing Industries was doubled in the Budget 2018-19 to Rs.1400 crores, whereas Rs. 500 crore was allocated for ‘Operation Greens’ to address the price volatility of perishable commodities such as tomato, onion and potato.

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