Export of processed food products increase by 27% during April-February 20-21
The exports of processed food products during April-February 2020-21 grew by 26.51%. Their exports amounted to Rs 43,798 crores during this period.
Exports of Processed Food Products
- The major food products exported during 2020-21 were processed vegetables, pulses, processed fruits and juices, guar gum, groundnuts, milled products, oil meals, alcoholic beverages and oil meals.
- The export of processed vegetables and alcoholic beverages increased by 40% in 2020-21.
- According to APEDA, the exports of processed food products is to continue in 2021-22. This is mainly because the demand for processed fruits and vegetables, pulses are increasing in markets such as middle east, US, UK.
Steps of GoI in Food Processing Industry
- In March 2021, Government of India approved Production Linked Incentive Scheme. Through this, GoI aims to provide Rs 10,900 crores of incentives to the Food Processing sector. The incentive is to be paid for six years under the scheme.
- Pradhan Mantri SAMPADA Yojana is being implemented to develop food processing centres in the country. SAMPADA is Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters. The scheme will create Mega Food Parks.
- In 2020, GoI sanctioned 134 food processing projects. This includes 21 agro-processing clusters, 43 food processing units, 47 cold chains, 8 backward and forward linkages, 3 Operation Greens and twelve food testing laboratories.
Food Processing Industry in India
The FDI inflows in Food Processing Industry increased from 628.24 million USD in 2018-19 to 904.7 million USD in 2019-20.
APEDA is to make Action Plans to increase export of millet between 2021 and 2026. APEDA is Agricultural and Processed Food Products Export Development Authority.
Category: Economy & Banking Current Affairs
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