Food Processing Industries Minister Harsimrat Kaur Badal said on Wednesday that India can become a world leader in the sector which is growing at over 8 percent per annum.
"India has the potential to become a global leader in food processing sector. Food processing sector has got the ability to integrate the gap between the farmers and the consumer," Badal said here, according to an official release.
Pointing out that the sector is growing at 8.4 percent, Badal said food processing is a major employment-intensive segment constituting over 13 percent of employment generated in the registered factory sector in 2012-13, the statement added.
During the period April to January 2014-15, the sector has attracted $421.51 million of foreign direct investment into India, Badal said.
The ministry has recently sanctioned 17 new mega food parks to attract investment in the sector and will sanction 30 more new cold chain projects, the statement said.
