Food processing sector has attracted foreign direct investment of USD 6.49 billion during 2010-11 to 2016-17, the government today said.
"According to Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry, there has been FDI equity inflow of USD 6492.19 million in the food processing sector during 2010-11 to 2016-17," Minister of State for Food Processing Industries Sadhvi Niranjan Jyoti said.
In a written reply to Lok Sabha, the minister said no prior approval of the government is required for investment in food processing industries.
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She informed that 100 per cent foreign direct investment (FDI) in food processing industries is allowed through automatic route subject to applicable laws/sectoral rules/ regulations/ security conditions.
"As per the latest Annual Survey of Industries (ASI) conducted by Central Statistics Office, Ministry of Statistics and Programme Implementation in 2014-15, the total invested capital by the registered food processing units was at Rs 3,68,43,371 lakh," she said.
The number of registered food processing units has increased from 35,838 in 2010-11 to 38,603 in 2014-15, the minister added.
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