Procesed food sector to see Rs 50,000 cr investment

The food processing industry is expected to attract an investment of Rs 50,000 crore in the 11th Five Year Plan.

Of this, the government's share will be 10 per cent, industry 40 per cent, with the remaining coming from banks and financial institutions, minister of state for food processing, Subodh Kant Sahai, said at a CII workshop here today.

The investments will go towards building backward and forward linkages in the supply chain, testing facilities and setting up new abattoirs, Sahai said.

The government will also set up a National Meat Board to promote the meat processing industry. Nearly 100 abattoirs will be set up through public-private partnerships in different parts of the country.

The food processing industry will, however, have to adhere to strict guidelines on standards that will be incorporated in the proposed law on food processing, which is expected to be notified shortly, Sahai said, "We do not intend to bring street food vendors under the purview of the law because it will affect their livelihoods. However, we will evolve a system to improve awareness about quality and hygiene among them".