The scheme has three broad components, first related to incentivizing manufacturing of four major food product segments
(Photo: iStock)
India received more than USD 10.88 Billion Foreign Direct Investment in the Food processing sector during the past 20 years said the Minister of State for Food Processing Prahlad Singh Patel.
He said as per the data released by the Department for Promotion of Industry and Internal Trade (DPIIT), the food processing sector has received USD 10.88 Billion from April 2000 to November 2021.
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The main companies, which have invested in India include B.S.A. INTERNATIONAL (Belgium), CADBURY SCHWEPPES MAURITIUS LTD (Mauritius), UNILEVER PLC (UK), Orkla Asia Pacific Pte Ltd (Singapore), DANONE ASIA PACIFIC HOLDINGS LTD (Singapore), ROQUETTE FRERES (France), RELAY B.V. (Netherland), and PEPSICO PANIMEX INC (Mauritius), the Minister said while replying to a question in the Rajya Sabha.
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He said the share of credit to the food processing sector in total credit to industry since 1990 till March 2021 was about 5.37%.
Further, in order to promote the Food Processing sector, the government has also introduced the Production Linked Incentive Scheme with an outlay of Rs 10,900 crores for enhancing India’s manufacturing capabilities and exports, the Minister said in reply to another question.
The scheme has three broad components, first related to incentivizing manufacturing of four major food product segments, second for incentivizing Innovative and organic products of SMEs and relates to support for branding and marketing abroad to incentivize the emergence of strong Indian brands, the Minister said.
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