Food processing sector growing at 7.68% as per National Accounts Divn data

The food processing industry is growing at 7.68 per cent, annually as per the latest data provided by National Accounts Division, Ministry of Statistics and Programme Implementation.

 

Rameshwar Teli, minister of state for food processing and industries, in a reply to a question on the growth of the food processing sector revealed that the gross value addition (GVA) of food processing industries has grown at 7.68 per cent as compared to 4.98 per cent growth of GVA of agriculture, forestry and fishing during 2017-18.

 

This, however, was contrary to the popular belief that the sector is growing at double-digit figures. Further, the ministry, in the past one decade, did not collect any data on the current situation with respect to the percentage of food processing taking place in the country.

 

The minister, replying to another question on scope of the development of the food processing sector, stated that the extent of food processing in the country was around 6.7 per cent in 2010-11.

 

He said, As per a study, commissioned by the Ministry of Agriculture and Farmers’ Welfare and undertaken by the Institute of Economic Growth, the average extent of food processing in the country was 6.76 per cent in 2010-11, and thus there is vast opportunity for food processing in India by creating and strengthening the infrastructure/logistics requirement, along the entire supply/value chain in the food processing sector.

 

Teli briefed Parliament that food processing industries had immense potential in the country, as India had a huge diversified production base and a low level of processing.