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Food Processing Ministry to create new financial institution to fund food processing sector

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Food Processing Ministry will soon create its new financial institution which will exclusively fund food processing projects and create capacity building in the field of risk assessment and lending to food processing sector.

Addressing a press conference in New Delhi on key initiatives of her ministry during the last four years, Food Processing Minister Harsimrat Kaur Badal said, 15 more mega food parks will be operationlised soon.

Mrs badal said, 13 Mega Food Parks have been made operational in the last four years. She said, government is creating cold chain grid to link every nook and corner of the country by its 42 mega food parks and 234 cold chain projects and around 700 projects under Prime Minister Kisan Sampada Yojana.

She said, this will help eliminate food wastage. The Minister said, there is zero tolerance towards wastage of food and infrastructure is being created to stop wastage of food especially post harvesting.

Mrs Badal said, food processing sector is set to become the most robust sector in India to contribute majorly to country’s growth. She said, the sector will help double farmers’ income by 2022. The Minister said, post World Food India 2017, the investment in food processing sector in India has increased significantly. She said, Pradhan Mantri Kisan SAMPADA Yojana under which a total of 122 projects have already been approved, are expected to generate direct and indirect employment of around 3.4 lakh persons.


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