The food processing sector in India received foreign direct investment (FDI) of $368.37 million till September 2024, according to Minister of State for Food Processing Industries Ravneet Singh Bittu. He shared this information in a written reply to the Lok Sabha on Thursday.
Ireland emerged as the top investor with $83.84 million, followed by Singapore with $48.45 million and Mauritius with $41.65 million. The United States contributed $38.60 million, while Australia and Mexico invested $20.18 million and $9.59 million, respectively, between April and September of FY25.
Comparison with Previous Fiscal Year
FDI inflows in the food processing sector during FY24 stood at $608.31 million, highlighting a decline in the current fiscal’s first half. Despite this, the government remains focused on boosting investments through supportive initiatives.
Key Schemes Driving Growth in Food Processing Sector
The sector benefits from schemes like Pradhan Mantri Kisan Sampada Yojana, the Production Linked Incentive (PLI) Scheme for the Industry, and the Pradhan Mantri Formalization of Micro Food Processing Enterprises (PMFME) scheme. These programs aim to enhance capacity, modernize infrastructure, and promote formalization in the industry.
Furthermore, these initiatives are expected to attract more FDI and provide growth opportunities for domestic players in sector. The government’s proactive measures seek to position India as a global hub for food processing and exports.
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