Right policies have drawn ₹50,000 cr FDI in food processing, says PM Modi
food processing industry in India, saying the investor-friendly policies of the government and increasing urbanisation which has led to demand for packaged food as well as unique crops that are in huge demand abroad create fertile opportunities for profits and employment.
Addressing the World Food India 2023 meet on Friday, the Prime Minister also batted for promoting the one district-one product plan. He disbursed Seed Capital Assistance to one lakh women involved in the Self-Help Groups sector.
He stated that women have a natural ability to lead the food processing segment and form the backbone, along with small farmers and small industries, of this sector. The food processing industry is getting recognition as a «sunrise sector», Modi said, adding that it has attracted FDI of more than ₹50,000 crore in the last nine years, primarily due to the «pro-farmer» and "pro-industry" policies of his dispensation.
The Agri-Infra Fund has helped in kicking off thousands of projects for post-harvest infrastructure with an approximate investment of more than ₹50,000 crore while processing infrastructure in the fisheries and animal husbandry sector is also being encouraged with an investment of thousands of crore.
«The investor-friendly policies of the government are taking the country's food sector to new heights.
This has led to an increase from 13% to 23% in the share of processed foods in India's agricultural exports. This is an increase of 150%,» he said.
This has led to India climbing to the 7th position with an overall export value of more than $50,000 million in agricultural produce, the Prime Minister said.
