New Delhi/Hyderabad : Telangana on Saturday launched its food processing policy, aiming to attract Rs.20,000 crore investment in the sector over the next five years.
The policy also aims to make Telangana the number one state in milk production and livestock and generate employment for 125,000 people.
State Minister for Industries K.T. Rama Rao unveiled the policy at World Food India 2017 in Delhi.
He said the policy was aimed at promoting the opportunities available for investment in food processing sector in the state.
“The policy aims to double the incomes of farmers in the state,” said a statement issued by his office in Hyderabad.
The minister said the policy had been drafted with a goal to establish and promote linkages between agriculture and food processing sectors.
He stated that the current initiatives of the state government like sheep distribution and fish fingerling distribution would be linked to the food processing industry and thereby double the incomes of farming and rural communities.
The Industries Minister assured that investors in food processing sector would be extended all possible cooperation. The Telangana government would meet or beat an offer made by any other Indian state, he added.
At the World Food India 2017 event, the Government of Telangana has signed nine MoUs with food processing companies. These companies will bring in investments up to Rs.1,250 crore to the state and create employment for 10,000 people.