Cabinet earmarks $1.49 bn as incentives for food processing sector

Prime Minister Narendra Modi's cabinet on Wednesday approved a proposal to earmark Rs 10,900 crore ($1.49 billion) in incentives to strengthen the food processing sector, Trade Minister Piyush Goyal said.

The plan would help attract investment in the sector, step up processed food exports from India and boost farmers' income, Goyal told a news conference.