Page 2 - Food Processing Industry

FDI in food processing sector down 54% to Rs 2,934 crore last fiscal

Foreign direct investment (FDI) in food processing sector declined 54 per cent to Rs 2,934.12 crore in 2020-21 as compared to the previous year, the government said on Friday. In a written reply to the Rajya Sabha, Minister of State for Food Processing Industries Prahlad Singh Patel informed that the FDI in the food processing sector stood at Rs 4,430.44 crore in 2018-19, Rs 6,414.67 crore during 2019-20 and Rs 2,934.12 crore during the 2020-21 financial year. The minister said that the FDI inflows in the food processing sector stood at USD 393.41 million in 2020-21 as against USD 904.70 million in the previous year. During the 2018-19 fiscal, the FDI inflow was USD 628.24 million, while the FDI was USD 904.9 million in 2017-18 and USD 727.22 million in 2016-17. Patel informed that 100 per cent FDI is permitted under the automatic route for the sector. "The share of FDI in the food processing sector is only 1.5 per cent of total FDI inflows and the sector needs more investments bo

Top headlines: PLI for food processing; RBI relief for auto-debit payments

Business Standard brings you top news of the day

Centre clears twenty food processing projects worth Rs 363.4 cr

The Union Food Processing Industries Ministry on Wednesday said it has cleared 20 projects worth Rs 363.4 crore

Mrs Bectors subscribed 198 times, highest ever for a Rs 200-cr plus IPO

Generated bids worth over Rs 40,000 cr. Previously, only three tiny issues have garnered more than 200x subscription

Narendra Tomar takes charge of food processing ministry after Badal resigns

Tomar was welcomed by Minister of State for Food Processing Industries Rameswar Teli and Secretary at the ministry Pushpa Subrahmanyam

Foreign investment in food processing up 44% to $904 mn in 2019-20

The sector had received FDI worth $628.24 million in 2018-19

UP to amend textile, tourism policies to reboot industry, create jobs

The state signs MOUs with four leading industrial bodies to create employment for 1.1 mn returning migrants

Stimulus 2.0: Reforms good, implementation a challenge, say food firms

The reason is the "well-oiled system" that exists right now, preventing farmers from approaching buyers directly.

Hungry for more

Food processing should be treated on a par with agriculture

Reforms push: Food processing sector may attract $33 bn by 2024, says study

The study suggested that industry needs to focus on product conformity with global standards and quality

Food processing to be main industry in future, says Jaitley, signs 13 MoUs

In terms of market size, the Indian food market was worth $193 billion in 2016 and is expected to cross $540 billion in 2020

From farm to fork: Modi says India can become global hub for processed food

PM Modi called for more private investments in the sectors of food processing, storage and retailing

Seeking partnership with US' food processing companies: Harsimrat Badal

India has a $600 billion retail sector, of which 70% is food retail

Australia's agro firms eyeing to expand footprint in food processing mkt

Traditionally exporting a large volume of foodgrains to India, Australian agricultural majors like GrainCorp are increasingly looking to set up processing units in the country. This follows Australia's push to make India a global hub for food grain processing, a senior Australian diplomat told Business Standard. "This would be beneficial to the operations of Australian companies who are currently exporting a significant amount of foodgrain to India.", Leonie Muldoon, Senior Trade and Investment Commissioner - South Asia said.India is a large market for Australian agro products which sent over more than $921 million worth of chickpeas (Kabuli Chana), pulses and $ 525.38 million worth of wheat in 2016-17.These goods witnessed a steady rise over the previous 4 years and companies such as Graincorp and Olam Austrlia are looking to scale up business in India and nearby markets. We are focusing on taking advantage of the Food Processing ministry's SAMPADA scheme which incorporates ongoing ..

Govt eyes $10bn investment in food processing sector in next 5 years

Harsimrat Kaur Badal said they will work towards transforming the industry, generate employment

Govt, RBI in talks to allow easy credit to food processing units

The Union ministry of food processing industries (MoFPI) is in talks with the Reserve Bank of India (RBI) to allow refinancing to the banks of the 'special fund' created to give affordable credit to food processing units coming up at the designated food parks.The fund of Rs 2000 crore was established in the National Bank for Agriculture & Rural Development (Nabard) by RBI."Rs 500 crore have been sanctioned out of the special fund of Rs 2000 crore created. Out of that sanctioned amount, Rs 150 crore has been disbursed. The take off is slow because the fund is restricted to mega food parks and units coming up there and Nabard is directly sanctioning it", JP Meena, secretary, ministry of food processing industries said on the sidelines of Roadshow on World Food India, 2017 organised here."We are in talks with RBI to allow Nabard to refinance it so that other banks can also avail it", he added.Only the designated food parks and the individual processing units in the designated food ...

In turnaround mode

Food processing industry is taking off thanks to policy changes