Ministry of Food Processing Industries (MoFPI) launched a centrally sponsored “PM formulation of Micro Food Processing Enterprise scheme” as part of Atmanirbhar Bharat Abhiyan.
- To provide financial technology and business support for the expansion of existing micro food processing enterprises.
- The goal is to generate a total investment of Rs. 35000 crores, 9 lakh skilled and semi-skilled jobs, and benefit 8 lakh units through access to information, training, better exposure, and formulation.
Recommended Read: PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme
Features of PM Formulation of Micro Food Processing Enterprises Scheme
- The plan is put into action for a specific district. One product approach to scale reading benefit. The state would specify specific food items for each district, such as perishable foods or items made of cereal.
- It would also focus on wealth generation, minor forest products, and aspirational districts. Support will be provided for the shared infrastructure as well as the branding and marketing of ODOP products.
- With a ceiling of Rs 10 lakh for capital investment along the value chain, printer prices on project cast will receive a 35 percent subsidy.
- Seed capital of Rs 40000 would be provided per SHG member for working capital and the purchase of small tools.
- Internship and management at the Institute of Food Technology Sonipat, Haryana, and an Indian Institute of Food Processing Technology, Thanjavur, Tamil Nadu, both under Mospi, would receive support for unit product development training, with a special emphasis on capacity building and research.
- Funding pattern outlet of Rs. 10000 crores with sharing mechanism as 90 10 for North in East done and Himalayan stairs 6040 for another state 6040 with you teach with the legislator and 100% by center for other UTs.
- A five-year period, from 2021 to 2025, will see the implementation of games.
Recommended Read: Garib Kalyan Rojgar Abhiyaan Scheme
What’s In Future?
In terms of production, consumption, and exports, the food processing industry is one of India’s most important industries. Though, the food processing industry faces several major challenges, including gaps in supply chain infrastructure, access to modern technology and equipment, and a lack of marketing and branding expertise. However, it is anticipated that these issues will be resolved in the next years by the national and state governments through the broad acceptance of continuing reforms and business-friendly policies to advance the nation’s unorganized food processing sector, advancing sector.