Why is it in the news?
- Processed food exports have surged by 150% over the past nine years, according to the Ministry of Commerce & Industry.
More about the news
- India’s Food Processing Sector has attracted Foreign Direct Investments (FDI) totalling about Rs 50,000 crore in the last nine years.
- The processed food segment now constitutes 23% of India’s agricultural exports.
- India boasts 158 food and agri Geographical Indications (GIs), showcasing unique regional food products.
- Under One District One Product (ODOP) Initiative, 708 unique food items across districts have been identified, contributing to regional specialties.
- The food processing market in India is estimated to reach $535 Billion by 2025.
Significance of Food Processing Sector
- Value addition and reduced waste in food processing contribute to increased income for farmers.
- The sector plays a vital role in generating employment opportunities.
- Processed food exports contribute to earning foreign exchange.
- Ensures food and nutritional security for the country.
Challenges in the Food Processing Sector
- Inadequate cold storage, processing facilities, and transportation networks pose challenges.
- Lack of trained manpower and technology hinders sector growth.
- India experiences approximately 74 million tonnes of food wastage annually.
Initiatives to Promote Food Processing
- Pradhan Mantri Kisan SAMPADA Yojana: A comprehensive scheme promoting food processing.
- Mega Food Park: Part of the initiatives, providing infrastructure and facilities.
- One District One Product (ODOP) Initiative: Identifying unique food items to give small farmers and industries a distinct identity.
- Production Linked Incentive Scheme: Introduced to incentivize the food processing industry.
