FDI in food processing sector down 30% to Rs 5,037 crore in 2023-24

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FDI in food processing sector down 30% to Rs 5,037 crore in 2023-24 - Business Standard

Quick Summary:

According to the data presented by the Food Processing Industries Ministry in Lok Sabha, the FDI in food processing sector stood at Rs 5,290.27 crore in 2021-22 and Rs 2934.12 crore in 2020-21.FDI was Rs 6,414.67 crore in 2019-20; Rs 4430.44 crore in 2018-19; Rs 5,835.62 crore in 2017-18; Rs 4,865.85 crore in 2016-17; and Rs 3,312 crore in 2015-16 in the food processing sector.

Foreign direct investment (FDI) in India's food processing sector declined 30 per cent in the last fiscal to Rs 5,037.06 crore, according to official data.

In order to enhance foreign investment in the food processing sector, the ministry has taken various measures, including 100 per cent FDI permitted through automatic route for the food processing sector subject to sectoral regulations.