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

The Ministry of Food stuff Processing has said that the sector’s share in whole International Direct Financial commitment (FDI) inflows in the state is pegged at just about one.five % and much more investments are necessary for overall development of the sector.

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

In a written reply, Minister of Point out for Food stuff Processing Industries Prahlad Singh Patel informed Rajya Sabha that FDI in the food stuff processing sector stood at Rs two,934.12 crore in 2020-21 as opposed to Rs 6,414.sixty seven crore in the past fiscal. In 2018, FDI in the food stuff processing sector stood at Rs 4430.forty four crore.

“The share of FDI in the Food stuff Processing sector is only one.five for every cent of whole FDI inflows and the sector requirements much more investments each domestic as perfectly as International immediate financial investment. The Ministry of Food stuff Processing Industries (MoFPI) is employing a Central Sector scheme Pradhan Mantri Kisan Sampada Yojana (PMKSY) considering that 2016-17 for overall development and advancement of the food stuff processing sector like for boosting financial investment,” he stated in his reply.

The authorities enables a hundred % FDI in food stuff processing.

Also, via the PM Formalisation of Micro Food stuff Processing Enterprises Scheme (PM FME), the Ministry strategies to assistance two lakh micro food stuff processing models via credit history joined subsidy centered on A person District A person Product (ODOP) classification.

Underneath the ODOP scheme, so significantly the Ministry has accredited 137 “special products and solutions” in 710 districts across 35 States and UTs.

In the meantime, in a different written reply the Ministry informed the Rajya Sabha, that as of October 31, “a whole of 122 Most important Processing Centres with processing capacity of 8500 MT, Dry Warehouse capacity of 116450 MT, Cold Storage capacity of 56520 MT and deep freezer capacity of 1750 MT have been accredited for assistance in forty one Mega Food stuff Parks.” This was under the Pradhan Mantri Kisan Sampada Yojana.