The food processing sector in India received foreign direct investment (FDI) worth $368.37 million this fiscal (till September), the Parliament was informed.&nbsp;
Countrywise, Ireland invested $83.84 million, Singapore $48.45 million, Mauritius $41.65 million, and the United States $38.60 million, informed Minister of State for Food Processing Industries, Ravneet Singh Bittu, in a written reply to the Lok Sabha.
Other key countries are Australia at $20.18 million and Mexico at $9.59 million in the April-September period of the current financial year.
The total FDI in the food processing sector was $608.31 million in FY24, informed the minister.
The sector is being promoted through the Pradhan Mantri Kisan Sampada Yojana, the Production-Linked Incentive Scheme for Food Processing Industry (PLISFPI), and the Pradhan Mantri Formalisation of Microfood Processing Enterprises (PMFME) scheme.
Under PLISFPI, 213 projects have been completed till date, resulting in employment generation to the tune of 289,832 people.
PLISFPI is intended to support the creation of global food manufacturing champions and support Indian brands of food products in the international market. The scheme is being implemented over a six-year period from 2021&ndash;22 to 2026&ndash;27 with an outlay of ₹10,900 crore.
The Ministry also launched the PMFME scheme for providing financial, technical, and business support for upgrading existing micro food-processing enterprises as well as setting up new units. The scheme is operational from 2020&ndash;21 to 2025&ndash;26 with a total outlay of ₹10,000 crore.
Meanwhile, India's organic food products exports reached $447.73 million in the first eight months of this fiscal (FY25) and are set to surpass last year's export figures.
In the current financial year, the total amount of organic food product exports reached 263,050 metric tonnes (MT) till November 25, and the export of organic food products stood at $494.80 million last fiscal year (FY24).
&mdash;IANS

Grains being processing in an open market

India's organic food products exports reached $447.73 million in the first eight months of this fiscal

Food-Processing Sees $368 Mn FDI in Q1, Q2

India's organic food products exports reached $447.73 million in the first eight months of this fiscal

December 6, 2024 | 11:39 IST