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India’s food processing sector touches Rs 2.24 lakh crores

The Food Processing sector has grown at a compounded growth rate of 10.8 % from 2014-15 to 2019-20, the Minister said in a written reply to a question in Rajya Sabha.

SNS | New Delhi |

The gross value added in the food processing sector has grown from Rs 1.34 lakh crore to Rs 2.24 lakh crore in the past five years, said Minister of State for Food Processing  Prahlad Singh Patel here on Friday.

The Food Processing sector has grown at a compounded growth rate of 10.8 % from 2014-15 to 2019-20, the Minister said in a written reply to a question in Rajya Sabha. The Minister said the total agri-food export in India has also grown by USD 4.14 Billion during the same period.

He said the total agri-food exports has grown from US$ 36.18 billion in 2014-15 to US$ 38.32 billion in 2020-21 at a compounded annual growth rate of 0.96 percent.

Giving details of the annual output of manufacturing of the food products and beverages, the Minister said the manufacturing has increased by Rs 1,82,005 crore from 2016-17 to 2018-19. He said in the fiscal year 2016-17, the total manufacturing of the sector was at Rs 1094982 crores which increased to Rs 1186496 crore in 2017-18.

As per the latest data released by the Ministry of Statistics and Programme Implementation, it had crossed Rs 1276987 crore figure in the fiscal year 2018-19, the Minister informed the upper house. Maharashtra, Gujarat, and Uttar Pradesh have been the best performers in the sector.

While Maharashtra alone processed Rs 185566 crore food products, Uttar Pradesh processed food products worth Rs 142587 crore and Gujarat processed food products to the tune of Rs 140898 crores, the Minister stated referring to the data of the Ministry of Statistics and Programme Implementation