Food processing sector gets $6.5 bn FDI during FY’11 to FY’17
The Dollar Business Bureau
India’s foreign direct investment (FDI) in the food processing sector was $6.49 billion during the period 2010-11 to 2016-17.
“According to Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry, there has been FDI equity inflow of $6.49 million in the food processing sector during 2010-11 to 2016-17,” Minister of State for Food Processing Sadhvi Niranjan Jyoti informed the Parliament on Tuesday.
In food processing industries, 100% FDI was allowed via automatic route subject to applicable regulations, laws, sectoral rules and security conditions.
According to the recent Annual Survey of Industries (ASI) conducted by the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation in 2014-15, the overall capital invested by registered food processing entities was at Rs.368,43,371 lakhs, the Minister informed.
According to the survey, the states which had received the maximum foreign investment in the food processing sectors by 2014-15 were Maharashtra (Rs.67,49,766 lakh), Uttar Pradesh (Rs.51,19,369 lakh), Karnataka (Rs.32,27,013 lakh), Tamil Nadu (Rs.28,09,159 lakh), Gujarat (Rs.25,68,716 lakh) and Andhra Pradesh (Rs.23,03,736 lakh).
In 2014-15, the number of registered food processing units has increased to 38,603 from 35,838 in 2010-11, according to the surveys under ASI conducted by CSO.