Food processing sector got Rs 6,198-cr FDI in less than 3 yrs

Foreign investors have invested Rs 6,198 crore in India's food processing industries (FPIs) in a little less than three years ending 2012, Parliament was informed today.

"Total foreign direct investment (FDI) in FPI sector during April, 2009 to December, 2012 is Rs 6,197.63 crore," Minister of State for Food Processing Industries Charan Das Mahant said in a written reply to the Rajya Sabbha.

India allows 100% FDI in food processing sector. Foreign firms do not require government's approval to start business here. Moreover, they can take advantage of the development schemes offered by the government.

During the 11th Plan Period, the government had launched a mega food parks scheme for the development of FPIs and has approved 30 such projects so far.

Quoting figures from the Annual Survey of Industries and National Sample Survey, the Minister, in a separate reply, said 64.67 lakh people are currently engaged in the country's FPI sector.

Mahant, however, said that his Ministry has not conducted any country-wide survey of the backward and rural areas of the country for setting up FPIs.