In fiscal year 2023-24, FDI in India’s food processing sector fell by 30% to Rs 5,037.06 crore, down from Rs 7,194.13 crore in 2022-23. Despite various government measures to encourage investment, such as allowing 100% FDI and reducing GST rates, export of processed foods also decreased by 17%. The sector continues to benefit from initiatives like PMKSY, PLISFPI, and PMFME, aimed at improving infrastructure, reducing waste, and boosting exports.
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