FDI in food processing touches $1 billion mark this year: Harsimrat Kaur Badal

Union Minister of Food Processing, Harsimrat Kaur Badal, on Tuesday stated that the FDI in the food processing sector has seen an increase of almost 100 per cent ever since the BJP took over in the year 2014.

"When we took over in 2014, the FDI in food processing sector used to be about $500 million every year but this year we touched almost $1 billion mark which was like 100% increase from when we took over," the minister stated.

"There's a long way to go and the potential (in the sector) is greater than that," Badal added.

According to official data, FDI in the food processing sector was $904.9 million in the 2017-18 fiscal, while it stood at $727.22 million, $505.88 million and $515.86 million in 2016-17, 2015-16 and 2014-15, respectively.

(With inputs from agencies)