Trade Marks Act - Suit cannot survive when main cause of action in suit no longer exists: HC (See 'Legal Desk') Trademarks Act - Injunction can be provided against e-commerce websites for allowing unauthorized third party sellers to latch on and use trademark of authorized seller: HC (See 'Legal Desk') SEBI Act - Penalty can be imposed on Noticee if there is no timely disclosure of financial results as mentioned in LODR Regulations: SEBI (See 'Legal Desk') SARFAESI Act - High Court is not justified in staying operation of order of DRAT which conclude that there is no error apparent on face of record for DRT to invoke review jurisdiction and recall its order: SC (See 'Legal Desk') Competition Act - Restriction of price and using strikes and lock outs that would lead to manipulation of market outcomes would be considered as anti competitive practice: CCI (See 'Legal Desk') Trade Marks Act - Trademark can be registered if there is proper establishment of secondary meaning of trademark: HC (See 'Legal Desk') IBC - Adjudicating Authoriy does not have power under IBC to restrict audit commissioned under RBI circulars: NCLT (See 'Legal Desk') Arbitration Act - Prior notice of invocation of bank guarantee can be provided if there cannot be injunction against invocation: HC (See 'Legal Desk') NIPAM trains 1 mn students on Intellectual Property awareness (See 'Corp Brief') Coal production rises by 11.4 % to 60.42 mn ton in July (See 'Corp Brief') PM praises Indian men & women Chess teams for winning medals at Olympiad (See 'Corp Brief') Fishery: Women as catalyst for change: Experts (See 'Corp Brief') Inflation: Is it really 'Taxation without Legislation'! (See 'THE COB(WEB)' in TIOL) Constitution of India - Due to non-granting of relaxations under circular does not leads to violation of rights of petitioner as conditions imposed in tender is choice of authority and court cannot interfere unless it is arbitrary: HC (See 'Legal Desk') Arbitration Act - Award can be set aside if there is no proper reason provided for coming up with figure of relief amount and if it is ex facie contrary: HC (See 'Legal Desk') TradeMark Act - Person can get relief for passing off of goods and adoption of deceptively similar trademark even if trademark is not registered: HC (See 'Legal Desk') PIT Regulations - Penalty can be awarded for violation of PIT Regulations due to failure to make requisite disclosures with respect to trades within time stipulated: SEBI (See 'Legal Desk') Companies Act - MCA should follow Sec 413 and prescribe tenure of members of NCLT as 5 years: SC (See 'Legal Desk') MoS shares India's roadmap for climate protection (See 'Corp Brief') Companies Act - Appeal can be allowed if previous order does not allow appellants to access register of members which is produced as proof: HC (See 'Legal Desk') IBC - IRP can be suspended from their position if performence is not satisfactory to CoC and if there is allegations of mismanagement: IBBI (See 'Legal Desk') Trade Marks Act - If descriptionary common word which occurs in registered trademark of other party are used does not amounts to infringement of trademark: HC (See 'Legal Desk') IBC - Limitation period of filing CIRP can be extended when there is communication between parties in between even though due date arose earlies: NCLT (See 'Legal Desk') Scindia chairs Advisory Committees for Integrated Steel Plants and Secondary Sector industry (See 'Corp Brief') MoS seeks support of NSF for proposed Integrated Data System (See 'Corp Brief')

Print

Food Processing Industry logs annual growth of 8.1%

Published: Aug 02, 2022

By TIOLCorplaws News Service

NEW DELHI, AUG 02, 2022: AS per latest Annual Survey of Industries(ASI) 2018-19, the total output in food processing sector has been increased from Rs. 9,34,272.19 crore in 2014-15 to Rs.12,76,995.11 crore in 2018-19 at the Compound Annual Growth Rate of 8.13%. The number of persons engaged in the registered food processing sector increases from 17.73 lakh in 2014-15 to 20.05 lakh in 2018-19.As per the National Sample Survey (NSS 73rd round 2015-16), a total of 51.11 lakh persons are engaged in the unincorporated/unregistered food processing sector.

The efforts being made for promoting exports of processed food products are :

(i) A comprehensive "Agriculture Export Policy" has been introduced to harness export potential of Indian agriculture.

(ii) Products Specific Export Promotion Forums set up by Agricultural and Processed Food Products Export Development Authority (APEDA) to give impetus to the export of potential products as well as to remove the bottlenecks in the supply chain.

(iii) APEDA has also formed Export Promotion Forums (EPFs) for the products, viz., Grapes, Onions, Mango, Banana, Pomegranate, Floriculture, Rice,Dairy Products and Nutri cereals.

(iv) A Farmer Connect Portal has been set up for providing a platform for farmers, Farmer Producer Organizations (FPOs) and cooperatives to interact with exporters.

(v) Assistance provided through several other schemes to promote exports, including food export, viz. Trade Infrastructure for Export Scheme (TIES), Market Access Initiatives (MAI) Scheme, Remission of Duties and Taxes on Exported Products (RoDTEP), Export Promotion schemes of APEDA &Marine Products Export Development Authority (MPEDA) etc.

(vi) Under the Production Linked Incentives (PLI) scheme for food products, marketing and branding support is provided by MoFPI for enhancing global visibility of Indian food products.

Further, the Ministry of Food Processing Industries(MoFPI) is implementing a Centrally Sponsored Scheme-PM Formalisation of Micro Food Processing Enterprises (PM FME) from the year 2020-21 for providing financial, technical and business support for upgradation / setting up of 2 lakh micro food processing enterprises based on One District One Product (ODOP) approach. The scheme is being implemented for the period 2020-21 to 2024-25 with an outlay of Rs. 10,000 crores.

MoFPI is implementing Central Sector Scheme–Pradhan Mantri Kisan SAMPADA Yojana (PMKSY) since 2016. PMKSY provides a big boost to the growth of food processing sector in the country helping thereby the farmers in getting better prices for their produces due to higher demand for agricultural produce by the food processing industries as raw material. It is thus a big step towards increasing the farmers' income in addition to creating employment opportunities especially in the rural areas, reducing wastage of agricultural produce and enhancing the export of the processed foods.

This information was given by Minister of State for M/o Food Processing Industries, Prahlad Singh Patel in a written reply in Lok Sabha today.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
taxindiaonline
A Taxongo Website. Copyright © 2016-2022 tiolcorplaws.com All rights reserved.