Minister of State for Food Processing Industries Prahlad Singh Patel in a written reply in Lok Sabha today briefed about the contribution of the food processing sector to the country's GDP (Gross domestic product).
According to the statement, with a Compounded Annual Growth Rate (CAGR) of 7.27 per cent, the Gross Value Addition (GVA) in the food processing sector climbed from Rs. 1.79 lakh crore in 2016–17 to Rs. 2.37 lakh crore in 2020–21.
For the purpose of growing GDP contribution and job opportunities, there is no target established for the food processing industry, the minister noted, however, 12.2 per cent of jobs in the recognized manufacturing sector are contributed by the food processing industry.
The Ministry's numerous programs and policy initiatives have improved the sector's contribution to India's GVA, he added.
He further said that the Pradhan Mantri Kisan SAMPADA Yojana (PMKSY) is a program run by the Ministry of Food Processing Industries that, among other things, aims to build modern post-harvest infrastructure, increase value addition, give farmers better returns, create job opportunities, etc.
The Ministry is also putting into practice the PM-Formalization of Micro Food Processing Enterprises (PMFME) Scheme, which aims to provide two lakh micro food processing enterprises across the nation with financial, technical, and business support for starting up or upgrading their operations, the minister said.
To encourage the development of world leaders in food manufacturing, a new Production Linked Incentive Scheme (PLIS) for the food processing sector is being launched. Additionally, this plan will increase employment prospects and exports for the industry, he added.
Moreover, talking of post-harvest food loss, Patel told the parliament that the Ministry of Food Processing Industries is tasked with building post-harvest infrastructure and processing facilities, among other things, to promote the sector's overall development, including lowering post-harvest losses and boosting value addition.
