AP attracts major investment in food processing sector

03 December 2018

Andhra Pradesh has made rapid strides in the food processing sector during the past two years or so, attracting an investment of more than Rs. 4,000 crore in 200 new units, according to Potluri Bhaskara Rao, President of Andhra Pradesh Food Processing Industries Federation.

food processing sector
Source: Google

Speaking at a workshop for entrepreneurs in the food processing sector organised by Agri Products Export Development Authority, SBI and other nodal agencies, he said one lakh new jobs had been generated in the sector, and “12-13 food parks are coming up in the State, each with 10-15 units”.

He complimented the State government for formulating suitable policies and making a separate budgetary allocation of Rs. 300 crore for the sector.

A Ramlingeswara Raju, General Manager of the District Industries Centre, Visakhapatnam, said the State government had announced its intention to set up a MSME (micro, small, medium enterprise) park in each of the 175 Assembly constituencies.

“So far 31 MSME parks have been established in the State, including two in Vizag district, one at Gurrampalem and the other at Rachapalli, and entrepreneurs in food processing sector can apply and obtain land for their units in these parks,” he said and added that clearances were being through a single window system within 21 days.

Sudhakar Peluri, Assistant General Manager, SBI, said MSMEs in the food processing sector as well as other sectors could now obtain sanction for collateral-free loans up to Rs. 1 crore online through public sector banks, providing the requisite information, within 59 minutes.