In turnaround mode

Food processing industry is taking off thanks to policy changes

The food processing industry, which has been languishing for long despite carrying the sunrise sector tag, seems to be finally taking off. It has seen an infusion of fresh investment of nearly $700 million in the last four months, reversing the earlier bloodbath marked by the closure of about 20 companies. Conditions now seem ripe for agro-processing to grow into at least a billion-dollar sector in the near future. Should this happen, it would bode well for the beleaguered farm sector as it can cut down post-harvest losses, which run into over Rs 92,000 crore a year, and boost farmers’