UK leads in Food FDI
India’s growing Food Processing Industries wins US$3 billion FDI inflow from UK.
Foreign Direct Investment (FDI) in Food Processing Industries (FPI) rose to US$5 billion in fiscal 2015-16, up from 3.98 billion in 2013-15, said the government in a statement.
The United Kingdom led the investment with US$3.03 billion in 2015-16, having made the largest commitment of US$3 billion in 2013-14.
Singapore was second with US$388.96 million in 2015-16, an increase from US$249.15 million in 2013-14, and a steady flow of US$83.06 million and US$56.75 million in 2014-16.
The Netherlands have ploughed in US$288.35 million while FDI flow through Mauritius was US$265.4 million over the three-year period.
The US have put in US$238.22 million, followed by Belgium with US$214.31 million, France’s US$129.69 million.
Meanwhile, the Ministry of Food Processing Industries is implementing schemes of Mega Food Parks, Cold Chain, Value Addition and Preservation Infrastructure which would create employment opportunities.
The Ministry is also collaborating with Food Industry Capacity and Skill Initiative (FICSI), the Sector Skill Council in food processing and regularly guiding and assisting it in achieving its mandate.
National Institute of Food Technology Entrepreneurship and Management at Kundli, Sonepat, Haryana and the Indian Institute of Crop Processing Technology at Thanjavur, under the administrative control of Ministry also impart training by offering academic programmes i.e. Bachelor’s, Master’s and Ph.D. degrees in food processing.
India has 37,445 food processing industries registered under the Factories Act, 1948, as per the 2013-14 annual survey of industries. fii-news.com
