There is a need to set up food processing and storage facilities in the country so as to prevent the wastage of crops, Union Sadhvi Niranjan Jyoti said today.
Approximately Rs 92,000 crore worth of crop is wasted every year, said the Minister of State for Food Processing and Industries.
The ministry has announced various concessions for the food processing industry, including service tax exemption to cold chain packaging, among others, she said.
"Considering the importance of the industry, the BJP government formed a separate ministry as earlier it was under the Agriculture Ministry," she added.
Jyoti further said the government has been easing FDI policy and has allowed 100 per cent FDI in marketing of food products produced and manufactured in India.
She was speaking here at a conference on "Food Retailing in India: Perspectives & Opportunities", organised by industry body Assocham.
On the setting up of Mega Food Parks by the Ministry, she said only two such parks were announced between 2008 and 2014. Soon after the BJP government assumed office two and half years ago, eight new Mega Food Parks were sanctioned, she added.
"It is a very proud moment for our Ministry. Out of the eight parks, one will be set up in Ratnagiri near Coimbatore (in Tamil Nadu)," she said.
Referring to it, Indian Institute of Crop Processing Technology Director C Anandharamakrishnan said a Mega Food Park would attract investment of about Rs 100 crore.
"So, the eight Mega Food Parks will cost Rs 800 crore of investment from the Government.
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