FDI in food processing space falls 30% in FY24

Crisis Management

♦ Govt allows 100% FDI in the sector

♦ Exempted all processed food items from licensing

♦ Lower GST for raw and processed products

New Delhi: Foreign direct investment (FDI) in India’s food processing sector declined 30 per cent in the last fiscal to Rs5,037.06 crore, according to official data. The FDI in the food processing sector stood at Rs7,194.13 crore in 2022-23. According to the data presented by the Food Processing Industries Ministry in Lok Sabha, the FDI in food processing sector stood at Rs5,290.27 crore in 2021-22 and Rs2934.12 crore in 2020-21. FDI was Rs6,414.67 crore in 2019-20; Rs4430.44 crore in 2018-19; Rs5,835.62 crore in 2017-18; Rs4,865.85 crore in 2016-17; and Rs3,312 crore in 2015-16 in the food processing sector. In order to enhance foreign investment in the food processing sector, the ministry has taken various measures.