The government plans to set up 100 new cold chain projects at a cost of Rs. 12,000 crore to Rs.13,000 crore and has kicked off the process to invite investors to set up six new mega food parks, in a bid to boost farm sector incomes by establishing farm to fork linkages.
Ramesh Abhishek, Secretary, Industrial Policy and Promotion, said that more than $1 billion of foreign direct investment (FDI) has come into the sector in the past two years, including some very big multinational firms such as Kellogg’s, McCain Foods and Mars International.
“This does not include every investment, nor does it include the impact of the enabling infrastructure created by the food processing ministry. A lot of projects are already operational on the ground… the Rs.9,000 crore invested in new cold storage capacity in the past two years has reduced 10 per cent of the country’s food wastage,” Mr.Abhishek said. India loses an estimated Rs.92,000 crore a year due owing to wasted food.
A Food Processing Ministry official said that expressions of interest have been invited from potential investors for six new mega food parks.
Preference would be given to bidders with at least 26 per cent foreign equity in the venture in order to attract more technological knowhow in the food supply chain, he said.
