Food processing sector gets USD 6.4 bn FDI since 2010-11

Food processing sector has attracted foreign direct investment of USD 6.49 billion during 2010-11 to 2016-17, the government today said.
"According to Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry, there has been FDI equity inflow of USD 6492.19 million in the food processing sector during 2010-11 to 2016-17," Minister of State for Food Processing Industries Sadhvi Niranjan Jyoti said.
In a written reply to Lok Sabha, the minister said no prior approval of the government is required for investment in food processing industries.
She informed that 100 per cent foreign direct investment (FDI) in food processing industries is allowed through automatic route subject to applicable laws/sectoral rules/ regulations/ security conditions.

"As per the latest Annual Survey of Industries (ASI) conducted by Central Statistics Office, Ministry of Statistics and Programme Implementation in 2014-15, the total invested capital by the registered food processing units was at Rs 3,68,43,371 lakh," she said.
The number of registered food processing units has increased from 35,838 in 2010-11 to 38,603 in 2014-15, the minister added.