Food Processing set to become most robust sector : Minister

Speed Post News Network

New Delhi : “Food Processing is all set to become the most robust sector in India to contribute majorly to its growth and the sector is all set to double farmers’ income by 2022 as envisioned by PM Narendra Modiji,” said Union Minister for Food Processing Industries  Harsimrat Kaur Badal, while addressing the media on the achievements of the Ministry during the last 4 years here on June 4, 2018.

The Minister informed media that four years back when she took over, food processing sector was totally disorganized and the industry was apprehensive of launching new projects or products and committed projects were being delayed and shelved.  After four years, she has reversed the business environment and turned it into the most buoyant and happening sector.

She said, ” From a dismal situation four years back, today we have investment commitment of nearly Rs 1,00,000 crore which we got in last one year alone of which investment worth Rs 73,000 crore have started grounding. This is just tip of the iceberg that shall unleash its real potential in years to come.”

“The last government sanctioned 42 Mega Food Parks from year 2008 onwards and 6 years later when I took over, only two (one of them Patanjali) could get operationalised during 2008 to 2014. I can now proudly say that overall 25 Mega Food Parks would be operationalized by 2018 of them 15 already been completed and 15 more shall be operationalized by 2019,” said the Minister, according to a PIB release.

“Four years back industry was apprehensive of the Food Regulator FSSAI and today FSSAI has harmonized itself to world standards.  FSSAI has transformed into the most potent and business friendly regulator for those conforming to rules,” she said.

The Minister said that the Government is creating a Cold Chain Grid to link every nook and corner of India with its 42 Mega Food Parks, 234 Cold Chain Projects and around 700 projects under PM Kisan Sampada Yojana.  With the schemes of the Ministry, more than 33 lakh farmers shall be directly benefited every year and their number shall keep increasing.

Informing the gathering about a new financial institution, Ms Badal said, “We are in the process to create a new Financial Institution that will exclusively fund food processing projects and create capacity building in the field of risk assessment and lending to food processing sector. Request for proposal for the institution which will be called Agro Processing Financial Institution will be out by July, 2018. It will be a Non-Banking Financial Institution and will be largely driven by private sector and government will act as a facilitator.”