New Delhi, May 21 (IANS) The Centre’s production linked incentive (PLI) scheme for the food processing sector has succeeded in attracting investments to the tune of Rs 7,000 crore and creating over 2.5 lakh jobs so far, according to a senior official of the Union Ministry of Food Processing Industries (MoFPI).
“Till date, the ministry has funded almost 1,600 projects leading to the creation of 41 lakh tonnes of food processing capacity and benefiting almost nine lakh farmers,” said Ranjit Singh, joint secretary, MoFPI, in his address at FICCI’s ‘Foodworld India’ event here.
He pointed out that food processing plays a pivotal role in agricultural diversification, value addition, reduction in post-harvest losses, and creation of surpluses for exports.
Singh said, “The immense untapped potential of the Indian farm sector highlights the important role that domestic manufacturing can play when adequately supported by enabling government policies. With targeted interventions, this sector can contribute to India becoming self-reliant and a global food basket.”
He highlighted the food processing sector’s role in enhancing the value of agricultural produce as well as driving favourable demand for Indian products in global markets. “Therefore, to realise its potential, we must continue to upgrade processing, packaging, storage and distribution, so that we’re able to meet both domestic and international standards,” he added.
Singh further stated that the MoFPI is implementing initiatives, such as Kisan Sampada Yojana, an umbrella scheme to build cold chains, agro-processing clusters, food testing bodies, and support R&D in the sector. The ministry is also running the PM’s formalisation of micro food processing enterprises (PMFME) scheme to promote infrastructure development, innovation and entrepreneurship in the food processing sector across the country.
He said that these schemes have also helped transform many small companies into medium ones. The PMFME scheme has supported close to two lakh micro enterprises through credit-linked subsidies and infrastructure creation in the last five years.
–IANS
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