Question : Food processing sector belongs to –
(a) Agriculture and allied industries
(b) FMCG industry
(c) Ministry of commerce & industry
(d) None of the above
Answer (b)
Related facts
Context
- Food processing sector comes under FMCG industry and Fast-moving consumer goods (FMCG) sector is the 4th largest sector in the Indian economy with Household and Personal Care accounting for 50 per cent of FMCG sales in India.
- The government has allowed 100 per cent Foreign Direct Investment (FDI) in food processing and single-brand retail and 51 per cent in multi-brand retail.
Recent fdi statistics
- Foreign direct investment (FDI) in the food processing sector rose 44 per cent to USD 904.7 million in the financial year 2019-20, according to government data.
- The sector had received FDI worth USD 628.24 million in 2018-19 and USD 904.90 million in the financial year 2017-18.
India’s food processing sector attracted global investors as it received FDI inflows worth USD 904.70 mn in the 2019-20 (up by 44 per cent over 2018-19)