Beverages & Food Processing Times September 2017

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Postal Reg No. THW/210/2016/2018 Posting Date is 20th & 30th of Every Month

India�s Only Monthly Newspaper for Food, Beverage & Allied Sectors

A Supplement of Beverages & Food Processing Times

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Times

Vol.1 Issue 02, Nov.- Dec. 2013, Rs. 20/-

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Indian Congress

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Vol. 10, Issue 04, September 2017,

FY17 seen 43% increase of FDI in food processing industry

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oint Secretary, Union Ministry of Food Processing, Anuradha Prasad said food processing industry in India received 43 per cent higher foreign direct investment (FDI) in the fiscal 2016-17 with several positive policy measures. FPI received $727 million in 2016-17 fiscal in FDI and it attracted $183 million in just last two months. “India got the highest FDI in all the sectors and food processing saw the highest jump in investments last fiscal.� Union minister for Food Processing Industry, Harsimrat Kaur Badal said “Today we are processing only 10 per cent of our total produce in India, which if increased even to small extent, will not only increase revenues but also create employment, address farmer issues and reduce wastage. A fund of Rs 6,000 crores has been allocated to put up units inside 42 mega food

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parks across the country, out of which four are in Telangana�. In Telangana, five cold chain projects have been approved to companies like Creamline Dairy that sells milk under Jersey brand and Dodla Dairy among others. Union government will also start taking in expression of interest (EoI) for various cold chain and food park clusters from industries in the next two weeks. Badal was in Hyderabad for a road show to promote World Food India 2017 scheduled from November 3-5, 2017 in New Delhi. The event will see participation from over 30 countries and Italy has confirmed to be a focus country. In the previous fiscal, foreign direct investment (FDI) inflows in the food processing sector stood at $515.86 million. According to the data shared by Minister of State for Food Processing Sadhvi Niranjan Jyoti in a written reply in Rajya Sabha, the sector has attracted $5,285.66 million FDI during April 2012 to December 2015. "In the Budget 2016-17, the government has announced 100 per cent FDI in marketing of food and food products produced and manufactured in India," Sadhvi Niranjan Jyoti said in a written reply to Rajya Sabha. Earlier while tabling the Union Budget, Finance Minister Arun Jaitley had said that 100 per cent FDI will be allowed through FIPB route in marketing of food products produced and manufactured in India.

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