FDI In Food Processing Sector Reaches $368 Mn
The total FDI in food processing sector was $608.31 million in FY24, minister said
FDI In Food Processing Sector Reaches $368 Mn
New Delhi: The food processing sector in India received foreign direct investment (FDI) worth $368.37 million this fiscal (till September), the Parliament was informed.
Country-wise, Ireland invested $83.84 million, Singapore $48.45 million, Mauritius $41.65 million and the United States, $38.60 million, informed Minister of State for Food Processing Industries, Ravneet Singh Bittu, in a written reply to the Lok Sabha.
Other key countries are Australia at $20.18 million and Mexico $9.59 million in the April-September period in the current financial year.
The total FDI in the food processing sector was $608.31 million in FY24, informed the minister.
The sector is being promoted through Pradhan Mantri Kisan Sampada Yojana, Production Linked Incentive Scheme for Food Processing Industry (PLISFPI and Pradhan Mantri Formalization of Micro food processing Enterprises (PMFME) scheme.
Under PLISFPI, 213 projects have been completed till date, resulting in employment generation to the tune of 289,832 people.
PLISFPI is intended to support creation of global food manufacturing champions and support Indian brands of food products in international market.
