Food processing industry to play key role in India’s growth story: Harsimrat Badal

By: | Published: July 8, 2015 10:00 PM

Union Minister of Food Processing Industries Harsimrat Kaur Badal on Wednesday said that food processing industry is going to play a key role in India's growth story, adding that the Centre has taken several steps to give impetus to the industry.

Union Minister of Food Processing Industries Harsimrat Kaur Badal on Wednesday said that food processing industry is going to play a key role in India’s growth story, adding that the Centre has taken several steps to give impetus to the industry.

“The produce by the farmers is the most important thing for this industry to progress. As this industry progresses, the farmers will also be uplifted. This sector is one of the 25 sectors identified under Pirme Minister’s Make in India vision. Food processing industry will play a key role in India’s growth story,” Badal told media persons.

“This government is giving a lot of importance to food processing industry. In the budget, a corpus of Rs. 2000 crore was created under NABARD so that cheaper credit can be given to food processing industry..Excise Duty on plant and machinery for packaging and processing has been brough down to six percent from 10 percent. Forms have been simplified for ease of business. Food processing ministry has allotted 17 new food parks across the nation,” she added.

She further said that the food processing industry has emerged as highest employment generator in recent times.

“Food Processing is an industry which is growing at a faster rate than agriculture and manufacturing. It has grown at 8.4 percent, it is also the highest employment generator. The FDI in this sector has grown by more than 10 times in the last decade,” she said.

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