Schemes for Food Processing Sector Development Launched
The Ministry of Food Processing Industries has launched schemes to develop India's food processing sector. The initiatives provide financial support and infrastructure development, aiming to increase the sector's productivity and competitiveness.
Thu, 08 Aug 2024
The Ministry of Food Processing Industries (MoFPI) has launched several schemes aimed at developing India's food processing sector. These schemes include the Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), Production Linked Incentive Scheme for Food Processing Industry (PLISFPI), and Prime Minister Formalization of Micro Food Processing Enterprises (PMFME) scheme.
The PMKSY sub-schemes provide credit-linked financial assistance, also known as capital subsidy, to entrepreneurs. This support is crucial in helping the food processing sector grow and become more competitive. The total outlay for this cycle is a significant Rs. 5520 crore.
Schemes being implemented by Ministry of Food Processing Industries for development of food processing sector @MOFPI_GOI is implementing Central Sector Schemes of Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), and Production Linked Incentive Scheme for Food Processing Industry… pic.twitter.com/EGF7zc3ROH
— PIB India (@PIB_India) August 8, 2024
MoFPI has made substantial progress under these schemes. As of June 30th, 2024, the ministry has sanctioned 41 Mega Food Parks, 399 Cold Chain projects, 76 Agro-Processing Clusters, 588 Food Processing Units, 61 Backward & Forward Linkages Projects, and 52 Operation Greens projects.
These initiatives are expected to have a positive impact on the food processing sector. By providing financial support and infrastructure development, these schemes aim to increase the sector's productivity and competitiveness, ultimately benefiting consumers through improved access to quality food products.
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