PM Modi Credits Investor-friendly Policies For Rs 50,000 Crore FDI Surge In Food Processing
Prime Minister Narendra Modi highlighted the immense potential of India's food processing industry, citing the government's pro-investment policies and the rising urbanisation trend, which has boosted demand for packaged foods and unique agricultural products sought after globally. These factors together offer significant opportunities for both profitability and job creation.
During his address at the World Food India 2023 event, the Prime Minister also championed the "one district-one product" initiative, disbursing Seed Capital Assistance to one hundred thousand women engaged in Self-Help Groups.
He underlined the natural leadership abilities of women in the food processing sector, emphasising their pivotal role alongside small-scale farmers and industries within the industry.
Modi described the food processing sector as a "sunrise sector" and noted that it has attracted over Rs 50,000 crore in foreign direct investment (FDI) over the past nine years, largely due to the government's pro-farmer and pro-industry policies.
Furthermore, he highlighted the positive impact of the Agri-infra Fund, which has catalysed thousands of post-harvest infrastructure projects with an estimated investment exceeding Rs 50,000 crore. The government is also actively promoting processing infrastructure within the fisheries and animal husbandry sector, with significant investments.
The Prime Minister attributed the remarkable growth in India's processed food exports, rising from 13 per cent to 23 per cent and achieving a 150 per cent increase, to the government's investor-friendly policies that are propelling the nation's food sector to new heights.
