The food processing sector in the country has grown from six per cent four year ago to 14.9 per now, union minister Subodh Kant Sahay said today.
Stating that at present the country was processing 10 per cent of total food produce, Sahay, the minister of state for Food Processing, said "we have targeted to enhance it to 20 per cent by 2015".
The minister said that the ministry has also targeted to increase exports from 1.5 per cent to 3 per cent.
Stating that the food processing sector has immense potential for growth, Sahay said the scope in European market was more as the people there preferred ready to eat food.
The sector, which would be the driver of the Indian economy in future, required Rupees one lakh crore investments to achieve rapid growth, he said.
He said "our production of food produce is half of China for various reasons including lack of modern technology."
He also said that there should be a separate food processing policy after the existing Agriculture Produce Marketting Corporation (APMC) was abrogated.
"I will soon talk to state governments in this regard," Sahay, who was the Chief Guest at the Twenty20 final Jharkhand Premier League match played between Uttar Pradesh and Bihar at Keenan Stadium here, said.
Referring to opportunity in Jharkhand for the sector, Sahay regretted that the ministry hardly received any proposal from the state, where there was no food processing facility for perishable produce including tomato.
"We set up a food park in Ranchi over a year ago, but unfortunately, the state government could not grant a sub-lease of 50-60 acre as yet, he said.
The park was to be set up at a cost of around Rs.300 to 400 crore for 25 to 30 food processing units to come up, he said.
