ATM News Network: The contribution of the food processing sector to the gross domestic product has increased from central government data.
From Rs 1.79 lakh crore gross value addition in 2016-17 to Rs 2.37 lakh crore in 2020-21. This growth has been at an annual compound rate of 7.27%. Minister of State for Food Processing Industries Pralhad Singh Patel gave this information in a written reply in the Lok Sabha.
Patel said that no target has been set for the food processing sector to increase its contribution to the gross national income, including generating employment opportunities. However, the food processing sector contributes 12.2% to registered manufacturing sector employment. The sector's contribution to India's gross value addition is increasing due to various schemes and policy initiatives being implemented by the Ministry.
The Pradhan Mantri Kisan Sampada Yojana is implemented by the Ministry of Food Processing Industries. The objective of the scheme is to create modern post-harvest infrastructure, enhance value addition, provide better returns to farmers, and create employment opportunities.In addition, the Ministry is also implementing a PM-Formalization Scheme for Micro Food Processing Industries with the aim of providing financial,technical and professional support for the establishment of two lakh micro food processing industries across the country. A new production promotion scheme is being implemented in the food processing sector to support the creation of global food production. The scheme is expected to generate more employment opportunities and higher exports for the sector.
The figures for the last three years are as follows: 2017-18 - 1.93 lakh
crores. , 2018-19 - Rs.2.36 lakh crore, 2019-20 - Rs.2.26 lakh crore, 2020-
21 - Rs.2.37 lakh crore.