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Its purpose was to increase processing of perishables from 6% to 20% and to increase India's share in global food trade by at least 3% up to year 2015. According to an estimate, [ 2 ] the Indian food industry was to grow from $200 million USD to $310 million USD in 2015 by this plan.
National Institute of Food Technology, Entrepreneurship and Management, Thanjavur (NIFTEM-T), formerly Indian Institute of Food Processing Technology (IIFPT), is an academic institution with Institute of National Importance (INI) status, functioning under the Ministry of Food Processing Industries (MoFPI), Government of India [4] located at Thanjavur, Tamil Nadu.
The first convocation of the institute, held in February 2018, was attended by the President of India, Ram Nath Kovind. [7] In 2018, the Minister of Food Processing Industries Harsimrat Kaur Badal inaugurated four incubation centres for product testing and development and a food-testing laboratory, with an investment of ₹ 50 crore (US$5.8 ...
Media industry in India also boomed during the same time which gave new companies even more incentive to make their business profitable. [citation needed] Prior to 1991, when globalisation and liberalisation occurred in India, western apparels and foreign food products were not available to local customers. Common people weren't very aware of ...
In October 2020, Nestle India announced investment of ₹ 2,600 crore for a new plant at Sanand in Gujarat. Initial phase of production commenced from 1 October 2021. [12] In 2023, the company announced that it would set up a food processing unit at Mundamba in Odisha with an investment of ₹ 894 crore. [13]
Induction of modern technology into the food processing industries from both domestic and external sources. Maximum utilization of agricultural residues and by-products of the primary agricultural produce as also of the processed industry. To encourage R&D in food processing for product and process development and improved packaging.
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Usually, the goal of a structure is to increase foreign direct investment by foreign investors, typically an international business or a Multi National Corporation (MNC). In December 2022, Union Minister of State for Electronics and IT Rajeev Chandrasekhar, in a written reply to a question in Rajya Sabha informed that Special Economic Zones ...