The authorities has earmarked funds value Rs 406 crores for the projects. They had been authorised in the course of the assembly of the Inter-Ministerial Approval Committee, chaired by Food Processing Minister Harsimrat Kaur Badal in New Delhi on February 26, 2020.
The primary focus space of the projects is to spice up employment alternatives in rural areas and create direct and oblique employment for about 15000 folks.
• The authorities has sanctioned 32 projects under the unit scheme of PMKSY of Ministry of Food Processing Industries. The new projects will cowl 17 states with an funding value Rs 406 crore.
• The projects purpose to create employment alternatives and direct and oblique employment for roughly 15000 folks within the rural areas.
• The primary focus space can be creating extra processing and preservation capacities and enlargement and modernizing the prevailing meals processing models.
• This can be undertaken to extend the extent of processing, leading to worth addition and enhancing the shelf lifetime of the product and cut back wastage.
What is Pradhan Mantri Kisan Sampada Yojana (PMKSY)?
The PMKSY scheme goals to create processing and preservation capacities and modernise current meals processing models to extend the standard of processing and cut back wastage. The introduction of contemporary processing methods is predicted to extend the shelf-life of the processed meals or agricultural produce. It will guarantee regular earnings to the farmers, decreasing farmer misery.
The implementation interval of the PMKSY scheme is 2016-20 and it has a complete outlay of Rs 6,000 crore. Overall, the scheme has seven element schemes:
1. Mega Food Parks
2. Integrated Cold Chain and Value Addition Infrastructure
3. Infrastructure for Agro-Processing Clusters
4. Creation of Backward and Forward Linkages
5. Creation/Expansion of Food Processing and Preservation Capacities
6. Food Safety and Quality Assurance Infrastructure
7. Human Resources and Institutions
Importance of Food Processing
Food processing performs an necessary position in linking Indian farmers to shoppers in home and worldwide markets. The Food processing trade hyperlinks the farmers with the federal government in addition to the unemployed youth. The authorities is at present making all efforts to encourage funding in meals procession. It has authorised a number of proposals for international collaborations and joint ventures within the meals sector.
The Indian meals sector has emerged as a high-profit and development sector on account of its immense worth addition potential, particularly throughout the meals processing trade as it’s stated to have Compound Annual Growth Rate(CAGR) of roughly eight p.c within the final 5 years.
The authorised projects are at present operating efficiently throughout India, protecting over 100 agro-climatic zones.
The processed meals market is predicted to develop from $ 322 bn in 2016 to $ 543 bn by 2020 at a CAGR of 14.6 p.c.