NEW DELHI: The government is making efforts to translate the proposals worth USD 13.56 billion made in the food processing sector by domestic and foreign investors into actual investment, Parliament was informed today.
An investment of USD 13.56 billion was committed by investors during the World Food India 2017 organised by the government.
"Efforts are being made to ground these investment intents at the earliest by facilitating the investors/ potential investors," Minister of State for Food Processing Industries Sadhvi Niranjan Jyoti said in a written reply to the Rajya Sabha.
To modernise and upgrade infrastructure for dairy processing and value added products, a dairy processing and infrastructure development fund with a corpus of Rs 8,004 crore has been created to help milk cooperatives, Minister of State for Agriculture Krishna Raj said in a separate reply.
The purpose is to create an additional milk processing capacity of Rs 12.5 million litres per day in the cooperative sector.
Initially, funds will provided to 39 profit-making milk unions and later other milk cooperatives will be considered based on the eligibility criteria, she added.