18/01/2022

Tannochbrae

Built Business Tough

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 total International Immediate Expense (FDI) inflows in the region is pegged at just about 1.five p.c and additional investments are required for overall advancement of the sector.

Infact, the FDI inflows in the food stuff processing sector declined by fifty four per cent in 2020-21 in contrast to the former fiscal.

In a published reply, Minister of State for Foodstuff Processing Industries Prahlad Singh Patel knowledgeable Rajya Sabha that FDI in the food stuff processing sector stood at Rs two,934.12 crore in 2020-21 in contrast to Rs 6,414.67 crore in the former fiscal. In 2018, FDI in the food stuff processing sector stood at Rs 4430.forty four crore.

“The share of FDI in the Foodstuff Processing sector is only 1.five per cent of total FDI inflows and the sector desires additional investments the two domestic as effectively as International immediate investment decision. The Ministry of Foodstuff Processing Industries (MoFPI) is implementing a Central Sector plan Pradhan Mantri Kisan Sampada Yojana (PMKSY) given that 2016-seventeen for overall advancement and improvement of the food stuff processing sector like for boosting investment decision,” he mentioned in his reply.

The governing administration permits one hundred p.c FDI in food stuff processing.

Also, through the PM Formalisation of Micro Foodstuff Processing Enterprises Plan (PM FME), the Ministry strategies to guidance two lakh micro food stuff processing units through credit linked subsidy based mostly on A person District A person Item (ODOP) classification.

Underneath the ODOP plan, so significantly the Ministry has permitted 137 “distinctive products and solutions” in 710 districts throughout 35 States and UTs.

In the meantime, in a separate published reply the Ministry knowledgeable the Rajya Sabha, that as of Oct 31, “a total of 122 Key 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 permitted for support in 41 Mega Foodstuff Parks.” This was underneath the Pradhan Mantri Kisan Sampada Yojana.