Assessing the economic impact of food processing in Bihar: The role of FCI in driving growth
Ajay Kumar Ram
This paper assesses the economic impact of food processing in Bihar, focusing on the role of the Food Corporation of India (FCI) in driving the sector's growth. Bihar, with its strong agricultural base, has a significant potential for food processing, yet it remains underdeveloped compared to other regions of India. The food processing industry, when expanded, can significantly contribute to Bihar's economic development by creating employment, increasing agricultural productivity, and boosting export opportunities. The study explores how FCI, as a key player in India's food supply chain, contributes to the stabilization of food prices, procurement of food grains, and the promotion of food security in the state. Furthermore, it examines FCI's role in infrastructure development, such as warehouses, cold storage, and transportation facilities, which are crucial for the growth of food processing units. The paper also delves into the financial aspects, including government subsidies, investment trends, and fiscal policies that influence the industry's growth. It highlights the challenges facing the food processing sector in Bihar, such as lack of modern technology, inadequate infrastructure, and limited access to finance. Through this analysis, the paper aims to provide insights into how FCI can further enhance its role to stimulate growth in Bihar’s food processing sector and promote long-term economic benefits.
Ajay Kumar Ram. Assessing the economic impact of food processing in Bihar: The role of FCI in driving growth. Int J Finance Manage Econ 2024;7(2):505-509. DOI: 10.33545/26179210.2024.v7.i2.407