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Policy Oct, 20 2014

Govt receives 72 proposals for establishing 17 Food parks

Companies including Adani Group, ITC and Future Group applies for proposal for 17 food parks to be approved in the next two-three months.

By Franchise India Bureau
Govt receives 72 proposals for establishing 17 Food parks

Government has received 72 proposals from various companies including Adani Group, ITC and Future Group for 17 food parks to be approved in the next two-three months, reports PTI.

Under the scheme (2008-09) of mega food parks, the Food Processing Ministry had sanctioned 42 projects throughout the country. Of this, 25 projects are presently under implementation in various states.

"We have received 72 proposals including from big players like Adani, ITC and Future Group for the 17 food parks to be approved by the government in next 2-3 months," a source said.

Earlier the Food Processing Minister Harsimrat Kaur Badal said, "Each park estimated to attract a minimum investment of about Rs 125 crore".

After final approval for the project, the company needs to acquire minimum 50 acres of land within stipulated time. The company is free to decide the location of the project.

Government provides Rs 50 crore grant for each project on different cost constituents other the land cost, source added.

Meanwhile, Badal had pointed out that wastage of fruits, vegetables and grains worth Rs 44,000 crore annually was the primary cause of food inflation in the country.

The Ministry is also developing food maps of the country to identify areas for surplus of raw material for processing. It is also working on to identify clusters for setting up of food processing industries.

Related: Bihar government asked to meet NFSA by December end

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