Home / Business / India has the Potential to Become a Global Leader in Food Processing

India has the Potential to Become a Global Leader in Food Processing

[vc_row][vc_column width="1/1"][vc_column_text]New Delhi: Smt. Harsimrat Kaur Badal, Union Minister for Food Processing Industries today said that “India has the potential to become a global leader in food processing sector. Food processing sector has got the ability to integrate the gap between the farmers and the consumer”. Minister added that Food Processing is one of the fastest growing sectors of the economy and the sector is growing at 8.4 per cent. Smt. Badal further said that Food Processing Industry is one of the major employment intensive segments constituting 13.04 per cent of employment generated in all Registered Factory sector in 2012-13, there is an immense potential in food processing sector to generate employment in the country. Minister appreciated the performance of the sector reflected in the Index of Industrial Production (IIP) for Factory output in food processing sector, which stands at 5.7% (Apr.-Feb.) 2014-15 as compared to (-) 2.1% (Apr.-Feb.) 2013-14. The increase is mainly driven by growth in rice (11.8%), edible hydrogenated oil (5.6%) and milk, skimmed & pasteurised (1.4%). Smt. Badal informed that 100 per cent Foreign Direct Investment (FDI) is permissible in food processing sector through automatic route except for items reserved for Micro and Small Enterprises (MSEs). During (Apr-Jan.) 2014-15, the sector has attracted US $ 421.51 Million FDI in the country. Food Processing is one of the priority sectors under ‘Make in India’ initiative by the Prime Minister of India. Minister said that during last six months, the average inflation rate for (Oct.-March) 2014-15 against (Oct.-March) 2013-14 for food articles & manufactured food items have witnessed a decline from 13% to 5.1% and from 1.8% to 1.5%respectively in 2014-15 as compared to 2013-14. High level of wastages in perishables is a challenge but endeavour of the Government is to promote food processing industry to catalyze reduction of wastage of agricultural produce and ensuring higher returns to the farmers. With a view to promote the sector, the Government has been strengthening infrastructure by supporting creation of Cold chain and Mega Food Park under the Central Sector Scheme of Infrastructure Development. Recently, Ministry has sanctioned 17 new Mega Food Parks to attract investment in the sector and will sanction approx. 30 more new Cold Chain projects.[/vc_column_text][/vc_column][/vc_row]

About Sanjay Trivedi

Sanjay Trivedi is honorary editor of Asia Times. He is senior Indian Journalist having vast experience of 25 years. He worked in Janmabhoomi, Vyapar, Divya Bhaskar etc. newspapers and TV9 Channel as well as www.news4education.com. He is serving as Media Officer in Gujarat Technological University, the university which controlling 440 colleges of Engineering, Management, Pharmacy & Architecture colleges in Gujarat.

Check Also

Bullet Train Project has commenced new chapter in Japan-India relationship

The Prime Minister Mr. Narendrabhai Modi today said that with ‘High Speed Project’ (HSP) a …