TAD NewsDesk, Lucknow: Food Processing industry shows huge potential of growth in the near future, says experts. The country’s agricultural climate zones provide a fertile region for the growth of a lot of edibles which is part of the global consumption network.
In a virtual seminar held on “Promoting Entrepreneurship and Investment in Food Processing Industry” organised on Wednesday by the Uttar Pradesh Chapter of PHD Chamber of Commerce and Industry (PHDCCI), experts consented that food processing is the fifth largest contributor to the country’s economy. And the challenges at various levels face by employment intensive industry were also one of the prime concern.
Anil Khaitan, former President and Mentor MSME Mentoring and Guidance Centre, PHDCCI, said
“The contribution of agriculture towards GDP is far low as compared to the number of people involved in it. Food processing is the fifth largest sector of the country’s economy and contributes 13 per cent to our annual GDP.”
Khaitan noted that in total 127 agro-climatic zones across the country provides a fertile base for the production of edibles to cater to the need of the native as well as global citizens.
General Saurabh Sanyal, PHDCCI General Secretary said that the chamber is working rigorously with both governmental and non-governmental organizations to help the food processing industries in the following tasks:
- Mentoring
- Technological upgradation
- Financing
The biggest challenges that the industry is facing according to Sanyal are noted as follows:
- The inability of entrepreneurs to access credit
- The high cost of institutional credit
- Lack of access to modern technologies
- Lack of connection with the food supply chain
- Compliance with health and safety standards
PHDCCI advisor and former CMD of NSIC HP Kumar said,
“The food processing industry in India is a sunrise sector changing the trend from sustenance to market-oriented that has gained prominence in recent years.”
The trade body in a press note on Thursday said various incentives and subsidies were already available to invite investment.
R.K Singh, Joint Director, UP Department of food processing said, under the UP Food Processing Industrial Policy, 2017, an investor in micro and small industry category can avail one hundred per cent reimbursement of interest subsidies within the tenure of 5 years with a maximum reimbursement of Rs 5 lakhs in a year.
B L Meena, Principal Secretary, Horticulture and Food Processing Department said, UP has tremendous potential in this sector of food processing. The state government could also offer a lot of incentives.
Alok Sinha, UP Agriculture Production Commissioner said in his keynote address that there is a dire need to increase and invest in the food processing sector because that will ensure value addition to the food products. And will also double the income of the farmers.
