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

The Ministry of Foodstuff Processing has said that the sector’s share in full Overseas Direct Investment decision (FDI) inflows in the nation is pegged at just about one.5 % and extra investments are required for total advancement of the sector.

Infact, the FDI inflows in the foodstuff processing sector declined by fifty four for every cent in 2020-21 in contrast to the previous fiscal.

In a penned reply, Minister of State for Foodstuff Processing Industries Prahlad Singh Patel knowledgeable Rajya Sabha that FDI in the foodstuff processing sector stood at Rs two,934.twelve crore in 2020-21 in contrast to Rs 6,414.sixty seven crore in the previous fiscal. In 2018, FDI in the foodstuff processing sector stood at Rs 4430.44 crore.

“The share of FDI in the Foodstuff Processing sector is only one.5 for every cent of full FDI inflows and the sector desires extra investments each domestic as very well as Overseas direct investment decision. The Ministry of Foodstuff Processing Industries (MoFPI) is applying a Central Sector plan Pradhan Mantri Kisan Sampada Yojana (PMKSY) since 2016-seventeen for total advancement and improvement of the foodstuff processing sector including for boosting investment decision,” he stated in his reply.

The federal government allows one hundred % FDI in foodstuff processing.

Also, as a result of the PM Formalisation of Micro Foodstuff Processing Enterprises Plan (PM FME), the Ministry options to assist two lakh micro foodstuff processing models as a result of credit history connected subsidy based mostly on A person District A person Item (ODOP) classification.

Underneath the ODOP plan, so significantly the Ministry has approved 137 “exceptional products and solutions” in 710 districts across 35 States and UTs.

Meanwhile, in a different penned reply the Ministry knowledgeable the Rajya Sabha, that as of October 31, “a full of 122 Principal Processing Centres with processing potential of 8500 MT, Dry Warehouse potential of 116450 MT, Chilly Storage potential of 56520 MT and deep freezer potential of 1750 MT have been approved for assistance in 41 Mega Foodstuff Parks.” This was less than the Pradhan Mantri Kisan Sampada Yojana.