FDI Surge Fuels Growth in Food Processing Sector

The food processing sector attracted USD 368.37 million in FDI till September of the current fiscal year. Major investments came from countries like Ireland, Singapore, and Mauritius. Initiatives like Pradhan Mantri Kisan Sampada Yojana and others are driving this growth.

The food processing industry in India has welcomed a significant boost with foreign direct investment (FDI) reaching USD 368.37 million by September of the current fiscal year, according to information shared with Parliament on Thursday.

Minister of State for Food Processing Industries Ravneet Singh Bittu, addressing the Lok Sabha, highlighted substantial contributions from countries such as Ireland, which invested USD 83.84 million, followed by Singapore and Mauritius, contributing USD 48.45 million and USD 41.65 million respectively. The United States and Australia also played key roles, further consolidating the sector's growth trajectory.

In comparison, the previous fiscal year, FY24, saw FDI in food processing totaling USD 608.31 million. The sector's recent successes are being bolstered by initiatives including the Pradhan Mantri Kisan Sampada Yojana, the Production Linked Incentive Scheme, and the Pradhan Mantri Formalization of Micro Food Processing Enterprises scheme.

(With inputs from agencies.)