Union Food Processing minister Subodh Kant Sahai, today said that the food processing sector would have a priority in the forthcoming budget.
"The food processing industry is a priority as it is one of the growing sectors and is going to be the largest employment generator in the next few years. However, the need of the hour is to invest in the sector," Sahai told reporters on the sidelines of a conference here.
The government wants more public-private partnerships in the agricultural sector to help Indian farmers move up the value-chain, he said, adding that this will create huge employment opportunities, raise income levels, eliminate poverty and transform rural India.
Asked about lack of marketing and poor cold storage facilities that lead to wastage of agri-produce and vegetables and thus a surge in food prices, Sahai said that those setting up cold storage facilities would enjoy a tax-free benefit.
The minister also called for more private investors in this segment. "The government has made it tax-free for those who want to set up cold storages. More and more private investors should come forward. We have also licensed a lot of grants for setting up cold storages," he added.
The minister had earlier said that he has set a target of raising the level of food processing to 20% by 2015 from the current level of a mere 6%.
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