Goverment Of Andhra Pradesh

Andhra attracted Rs 4,000 crore investment in food processing sector

Potluri Bhaskara Rao, President of Andhra Pradesh Food Processing Industries Federation, has said the state 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.

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.

Lauding the state government for formulating suitable policies and making a separate budgetary allocation of Rs 300 crore for the sector, he said, “This is the opportune time for investing in the sector, as both the State and Centre are supporting it and the banks are ready to give collateral-free loans up to Rs 1 crore.”

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

Image Credit : images.newindianexpress.com