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Food Processing sector's GDP contribution grew at AAGP of 11 pc Food Processing Industry GVA
Image Credit: Parej Richard via Unsplash

Food Processing sector's GDP contribution grew at AAGP of 11 pc

India Blooms News Service | @indiablooms | 19 Dec 2021, 01:57 am

New Delhi/IBNS: The Gross Value Added (GVA) in Food Processing Industries (FPI) sector has been growing at an Average Annual Growth Rate (AAGR) of around 11.18 per cent in the last five years ending 2019-20, according to Ministry of Food Processing Industries.

As per the latest Annual Survey of Industries (ASI) 2018-19, there were 40,579 food processing units in the registered sector.

The GVA in FPI was 1.61 lakh crore in 2015-16, 1.79 lakh crore in 2016-17, 1.93 lakh crore 2017-18, 2.32 lakh crore in 2018-19, 2.24 lakh crore in 2019-20, according to government data.

The ASI data do not give segregated data for big, medium, small, tiny units or details of multi-national corporations (MNCs).

National Sample Survey (NSS 73rd,Round 2015-16) data showed that there were 24.59 lakh food processing enterprises in the unregistered segment out of which 93.6 % were in the micro category, 5.7percent in the small category and remaining 0.7 percent in the medium category.