April 25, 2024

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

The Ministry of Foodstuff Processing has mentioned that the sector’s share in complete Overseas Direct Expense (FDI) inflows in the place is pegged at just about 1.five percent and far more investments are demanded for overall progress of the sector.

Infact, the FDI inflows in the food items processing sector declined by 54 for each cent in 2020-21 compared to the earlier fiscal.

In a published reply, Minister of Condition for Foodstuff Processing Industries Prahlad Singh Patel knowledgeable Rajya Sabha that FDI in the food items processing sector stood at Rs 2,934.twelve crore in 2020-21 compared to Rs 6,414.sixty seven crore in the earlier fiscal. In 2018, FDI in the food items processing sector stood at Rs 4430.forty four crore.

“The share of FDI in the Foodstuff Processing sector is only 1.five for each cent of complete FDI inflows and the sector wants far more investments each domestic as properly as Overseas direct expense. The Ministry of Foodstuff Processing Industries (MoFPI) is employing a Central Sector scheme Pradhan Mantri Kisan Sampada Yojana (PMKSY) considering the fact that 2016-seventeen for overall progress and improvement of the food items processing sector like for boosting expense,” he said in his reply.

The federal government enables 100 percent FDI in food items processing.

Also, by the PM Formalisation of Micro Foodstuff Processing Enterprises Plan (PM FME), the Ministry strategies to support 2 lakh micro food items processing units by credit linked subsidy based on Just one District Just one Solution (ODOP) classification.

Underneath the ODOP scheme, so considerably the Ministry has approved 137 “exclusive products and solutions” in 710 districts throughout 35 States and UTs.

In the meantime, in a different published reply the Ministry knowledgeable the Rajya Sabha, that as of October 31, “a complete 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 approved for help in 41 Mega Foodstuff Parks.” This was beneath the Pradhan Mantri Kisan Sampada Yojana.