Performance of Food Processing Industries (FPI) in India

Y Ebenezer; N Savitha

doi:10.34293/economics.v12i1.6710

Y Ebenezer Assistant Professor of Economics, School of Law, Vel Tech University, Chennai, Tamil Nadu, India https://orcid.org/0000-0002-4010-0431
N Savitha Associate Professor of Economics, School of Social Science, VIT, Vellore, Tamil Nadu, India

DOI: https://doi.org/10.34293/economics.v12i1.6710

Keywords: COVID-19, Food Processing Industries, Export Value, FDI, GVA, Indian Economy

Abstract

Food processing industries are a crucial component of the Indian economy’s industrial sector. They play a pivotal role in ensuring food security, providing employment opportunities in both rural and urban areas, contributing significantly to the country’s GDP, and generating significant export revenue. The performance of the food processing industry plays a crucial role in shaping the Indian economy. The objective of the study is to analyze the Gross Value Added, Revenue, and FDI of the food processing industry in India’s current scenario. The study has been conducted using secondary information and measurable tools. According to the study, food processing industries have managed to maintain a similar level of performance in terms of Gross Value Added (GVA) and revenue generation. However, the growth value of exports and Foreign Direct Investment (FDI) inflow has shown a decline in performance during the post-COVID-19 period under review. Finally, the study suggested that the Indian government should make legislative policy and fiscal policies for assistance to improve the performance of food processing industries.