Food processing industry to invest Rs 1 lakh cr,create 40mn jobs
New Delhi, Apr 25 (UNI) The food processing industry is slated to generate 40 million jobs every year with an investment of Rs one lakh crore, CII National Committee on Food Processing, Chairman, Piruz Khambatta said today.
''The committee is aiming at including the food processing industry in the prime sector for it will catapult rural India as IT did to urban India,'' Mr Khambatta said.
Pointing out that even though India is the largest producer of milk and the second largest producer of fruits and vegetables, the processing and value addition is at a rate of 7 per cent, he said, ''This year we will focus on marketing activities abroad. The committee has stepped up the expenditure for promotional and brand-building activities in order to attract international buyers and investors interest,'' he added.
The Indian food sector operates for the double-sided benefit of the Indian economy, by processing the perishable agricultural products to reduce wastage and provide impetus to the consumer demand by making the products available throughout the year. India can become the Global Food Factory of the world, he added.
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