Ministry says 832 completed projects have processing capacity of 218.43 Lakh MT
The Food Processing sector has attracted US$6.185 billion FDI equity inflow during April 2014-March 2023 while its export share in agri-exports has increased to 25.6% in 2022-23 from 13.7% in 2014-15.
This update was given by Ministry of Food Processing Industries on 28 Dec 2023 in the Year End Review 2023.
Since Jan 2023, 110 projects out of 184 approved under various component schemes have been completed resulting in processing and preservation capacity of 13.19 Lakh MT.
The approved projects, on their completion, are expected to leverage investment of Rs.3,360 crore benefiting about 3.85 lakh farmers and are expected to result in more than 0.62 lakh direct/indirect employment.
In all, so far, a total of 1,401 projects have been approved under various component schemes of Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), since their respective dates of launch. Out of these, 832 projects have been completed resulting in processing & preservation capacity of 218.43 Lakh MT.
The approved projects, on their completion, are expected to leverage investment of Rs.21,217 crore benefiting about 57 lakh farmers and are expected to result in more than 8.28 lakh direct/indirect employment.
Under Atmanirbhar Abhiyaan, the Ministry of Food Processing Industries launched a Centrally Sponsored Scheme named Pradhan Mantri Micro Food Processing Industries in June, 2020, to encourage ‘Vocal for Local’ in the sector with a total outlay of Rs.10,000 crore for 2020-2025.
This is the first ever Government scheme for Micro Food Processing enterprises and is targeted to benefit 2 lakh enterprises through credit linked subsidy and adopting the approach of One District One Product.
Since Jan 2023, a total of 51,130 loans have been sanctioned under the credit linked subsidy component of the PMFME scheme, which is highest achievement during any calendar year since launch of the scheme.
An amount of Rs 440.42 crore has been released as seed capital assistance to 1.35 Lakh Self Help Group (SHG) members. Four Incubation Centres have been completed and inaugurated during the period providing product development support to grass-root Micro Enterprises.
Since the inception of the scheme, so far, a total of 65,094 loans have been sanctioned under the credit linked subsidy component of the PMFME scheme to individual beneficiaries, Farmer Producer Organizations (FPOs), Self Help Groups (SHGs) and Producer Cooperative Societies.
An amount of Rs.771 crore has been released as seed capital assistance to 2.3 Lakh Self Help Group (SHG) members.
The Ministry has approved 76 Incubation Centers to be set up in ODOP processing lines and allied product lines with an outlay of Rs.205.95 crore.
A Rs.10,900 crore Scheme is being implemented over a six-year period from 2021-22 to 2026-27 to support creation of global food manufacturing champions commensurate with India’s natural resource endowment and support Indian brands of food products in the international markets. The Central Sector Scheme – “Production Linked Incentive Scheme for Food Processing Industry (PLISFPI)” was approved by the Cabinet on 31 Mar 2021.
On 10 Aug 2023, the proposal of the Ministry has been approved for inviting EoI for manufacture of Millet-based products (Millets 2.0) with an outlay of Rs.1,000 crore arising out of the savings from the other segments.
A total of 176 proposals under different categories of Product Linked Incentive scheme for Food Processing sector (PLISFPI) have been approved so far. The scheme was likely to lead to investment of Rs.7,722 Crore, increase in processed food sales turnover worth Rs.1.20 Lakh crore.
With Incentives of Rs.584.30 crore released till date to the supported companies under the scheme, processed food sales turnover of about Rs.2.01 lakh crore, investment of Rs.7,099 crore. Fiinews.com
