May 21, 2024

Deabruak

The business lovers

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 total Overseas Immediate Financial commitment (FDI) inflows in the place is pegged at just about one.five % and more investments are demanded for total advancement of the sector.

Infact, the FDI inflows in the foods processing sector declined by 54 per cent in 2020-21 compared to the earlier fiscal.

In a written reply, Minister of Condition for Foodstuff Processing Industries Prahlad Singh Patel informed Rajya Sabha that FDI in the foods processing sector stood at Rs 2,934.twelve crore in 2020-21 compared to Rs 6,414.67 crore in the earlier fiscal. In 2018, FDI in the foods processing sector stood at Rs 4430.forty four crore.

“The share of FDI in the Foodstuff Processing sector is only one.five per cent of total FDI inflows and the sector requirements more investments both equally domestic as perfectly as Overseas direct investment decision. The Ministry of Foodstuff Processing Industries (MoFPI) is applying a Central Sector scheme Pradhan Mantri Kisan Sampada Yojana (PMKSY) considering the fact that 2016-seventeen for total advancement and growth of the foods processing sector including for boosting investment decision,” he mentioned in his reply.

The federal government makes it possible for one hundred % FDI in foods processing.

Also, by means of the PM Formalisation of Micro Foodstuff Processing Enterprises Scheme (PM FME), the Ministry strategies to guidance 2 lakh micro foods processing units by means of credit rating joined subsidy based on A person District A person Product (ODOP) classification.

Beneath the ODOP scheme, so far the Ministry has accredited 137 “one of a kind items” in 710 districts throughout 35 States and UTs.

Meanwhile, in a independent written reply the Ministry informed the Rajya Sabha, that as of Oct 31, “a total of 122 Key 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 guidance in forty one Mega Foodstuff Parks.” This was underneath the Pradhan Mantri Kisan Sampada Yojana.