Chennai: Food processing industry in India has attracted Foreign Direct Investment worth USD 1970.09 millon from April 2000 to July 2013, according to the latest data published by Department of Industrial Policy and Program, which suggested the potential of the sector, Tamil Nadu Governor, Dr K Rosaiah said today.
There was an increase in participation of entrepreneurs, bankers, financial institutions in this sector in Tamil Nadu and there was the need to take advantage of huge investment, Rosaiah said, after inaugurating a conference on +Likning growth drivers of Food processing industries, market, quality with food safety and skill,+ organised by ASSOCHAM, here.
Tamil Nadu Government was working sincerely to realize the mission to promote industries, specifically identified as 'thrust areas' in food processing and agro-based industries and providing every support to enhance the level of food processing to increase value addition and thus increase India's share in global food trade, he said.
Ravi Sannareddy, Chairman, Southern Region Council, Assocham, said the food processing industry was on an assured track of growth and profitability and was expected to attract phenomenal investment in capital, human, technological and financial areas.
Since the total food production of the country is estimated to double in the next 10 years, there is an opportunity for large investments in food and food processing technologies, Sannareddy said.
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