FDI in India's food processing sector declined 30% to Rs 5,037.06 crore ($612 million) in the last fiscal year.

FDI in India's food processing sector declined 30% to Rs 5,037.06 crore ($612 million) in the last fiscal year, according to official data. To boost investment, the government implemented measures like 100% FDI through the automatic route and lower GST rates for raw and processed products. Despite this, processed food exports declined 17% to $10.88 billion in 2023-24 from $13.078 billion in 2022-23. The Ministry of Food Processing is implementing schemes like PM Kisan SAMPADA Yojana, PLISFPI, and PMFME to encourage sector development, improve supply chain management, and enhance farmer returns.

August 16, 2024
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