100% FDI decision in food processing sector will play a big role in doubling farmers' income by 2022: Minister

Aspire to turn India into the food factory for the world in the next few years: Minister

Inaugurating the International Food and Hospitality Fair 2016, Union Food Processing Industries Minister, Smt. Harsimrat Kaur Badal, said that the Budget decision to allow 100% FDI in multi-brand retail for food products produced and processed in India will play a catalytic role in leapfrogging Indian economy. She underlined that the decision pertains to FDI in 100% swadeshi and home-grown food.

The average Indian spends 40% of his income on eatables, and only 10% of what we grow is processed in India. Recalling these facts, the Minister pointed to the huge opportunity that beckons investors. She said that the FDI decision would give a boost to the sector, and would contribute to the the eventual aim of uplifting farmers and doubling farmers' income by 2022.

Recalling the big market access challenge that India's farmers face, Smt. Badal said that she is looking at a market that goes to the farmer's doorsteps, an industry that chases the farmer. She said that the 100% FDI decision would usher in a partnership between industry and farmers, play a huge role in creating backward infrastructure linkages and plugging wastages, thereby improving the farmers' prospects.

The Minister spoke also of the e-marketing platform that is slated to be launched in April 2016, hailing it as a revolutionary initiative by the Prime Minister. She said that the digital platform will integrate 585 regulated markets, providing farmers and traders with access to opportunities for purchase/ sale of agri-commodities at optimal prices in a transparent manner. Smt. Badal spoke also of the Government's vision to tap the potential for organic farming in North East India.

Stating that 42 Mega Food Parks are coming up, the Minister said that foreign players can tie up with these parks in pursuing 'Make In India', even for specific nations of their choice. This would be facilitated by the plug-and-play model under which these parks would operate, wherein common infrastructural facilities would be provided. Smt. Badal said that she aspires to turn India into the food factory for the world in the next few years.

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