The Andhra Pradesh government has signed 168 Memorandums of Understanding (MoUs) with the food processing sector on the second day of the three-day CII Partnership Summit.
The food processing industry is proposing to invest Rs 3,424 crore in the sector that will create 48,298 jobs.
Union food processing secretary J P Meena stated that Andhra Pradesh has some of the most progressive policies among Indian states in the food processing sector.
The central government has created a special fund of Rs 2,000 crore, administered by Nabard, to help in the setting up of food parks in the country.