Food Processing Industries Minister Harsimrat Kaur Badal has said, the Foreign Direct Investment (FDI) in the food processing sector is expected to rise by 38 per cent to one billion dollar this fiscal. Briefing reporters in New Delhi yesterday, she said, FDI in food processing is increasing and stood at 727 million dollar in 2016-17. Ms Badal said, in the first seven months of this fiscal, it has reached to 500 million dollar. The Minister said, efforts are being made to translate the proposals worth 14 billion dollar signed during the World Food India last year into actual investment.
She said, the new initiatives Operation Greens and setting up of a specialised agro-processing financial institution announced in the Budget 2018 will help further boost the processing levels, reduce wastage and improve farmers’ income. Ms Badal said, investment is flowing into the sector because of reforms undertaken by the government.