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MFIL was a wholly owned Central Government-owned PSU. This was the first privatisation of public sector unit by the government of India. Modern Foods had over 40% of the bread market in India. [3] HUL was the sole bidder for Modern Foods. It paid Rs 10.5 million, as per the valuation exercise undertaken by its valuer ICICI, for 74% of the shares.
Confederation of Indian Food Trade and Industry (CIFTI) caters to the Indian food Industry. It deals with policies, trade affairs and capacity building. [9] CIFTI provides institutional support and partners with the Government and the Indian private sector in promotion and development of Indian food processing industry.
The Agricultural and Processed Food Products Export Development Authority (APEDA) is a statutory body established in 1986 under the Ministry of Commerce and Industry, Government of India, to promote the export and development of agricultural and processed food products in India. It also monitors the import of sugar.
The FMCG industry is the fourth largest sector in the Indian economy. [1] Household and personal care products accounts for 50% of the sales in the industry, healthcare accounts for 31-32% and food and beverage accounts for the remaining 18-19%. [1]
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.
A sanction of 42 food parks has been planned, out of which 25 in various states have already been sanctioned [1] [3] with 17 pending, expression of interest is available from companies with the government. According to the Government, as of October 2016, 8 mega food parks have become operational and all 42 would be operational in the next 2 years.
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