ENA Sectors 2022-12-20 11:00:45 <p><span style="font-size:14px"><strong>New Delhi, Dec 20 (KNN)</strong> The Gross Value Addition (GVA) in food processing sector has increased from Rs. 1.79 lakh crore in 2016-17 to Rs.2.37 lakh crore in 2020-21 at a Compounded Annual Growth Rate (CAGR) of 7.27 per cent.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">Sharing the GVA for the last three years and recent year 2020-21, Minister of State for Food Processing Industries, Prahlad Singh Patel in a written reply in Lok Sabha on Tuesday informed that no target is set for the food processing sector for creating employment opportunities and increasing its contribution in GDP.</span></p> <p><span style="font-size:14px">The food processing sector contributes 12.2 per cent of employment in the registered manufacturing sector.</span></p> <p><span style="font-size:14px">Various schemes and policy initiatives being implemented by the Ministry results in increased contribution of the sector to Indias GVA, said the minister.</span></p> <p><span style="font-size:14px">During 2017-18 the GVA was at Rs 1.93 lakh crore, Rs 2.36 lakh crore in the next financial year and Rs 2.26 lakh crore in FY20.</span></p> <p><span style="font-size:14px">The Ministry of Food Processing Industries implements the Pradhan Mantri Kisan SAMPADA Yojana (PMKSY) which inter alia aims at creation of modern post-harvest infrastructure, boosting value addition, providing better returns to farmers, creation of employment opportunities etc.</span></p> <p><span style="font-size:14px">In addition, the Ministry is also implementing the PM-Formalization of Micro Food Processing Enterprises (PMFME) Scheme for providing financial, technical and business support for setting up/upgradation of two lakh micro food processing enterprises across the country.</span></p> <p><span style="font-size:14px">A new Production Linked Incentive scheme (PLIS) for Food Processing Sector is being implemented to support creation of global food manufacturing champions.</span></p> <p><span style="font-size:14px">This scheme will also create more employment opportunities and higher exports for the sector. <em><strong>(KNN Bureau)</strong></em></span></p> 31625 https://knnindia.co.in/news/newsdetails/sectors/food-processing-sector-records-727-cagr-in-2020-21 2022-12-20 11:00:45 knnindia.co.in