New Delhi: The Union Ministry of Food Processing is continuously encouraging private sector companies to invest in the food processing sector. To promote the food processing industry with the participation of private sector companies, the Union Ministry of Food Processing has been implementing the Pradhan Mantri Kisan Sampada Yojana since 2016.
The Union Ministry of Food Processing is also providing financial assistance in the form of subsidies for private sector entrepreneurs to start food processing industries. The central government is trying to encourage the private sector to invest in the food processing sector which will further increase the income of farmers. So far, 792 private sector companies have got approval to start food processing industries. Financial assistance of Rs 5791.71 crore has also been provided to these private sector companies by the central government. The main purpose is to encourage the companies to develop basic infrastructure related to food processing.
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For maximum participation of private sector companies, the government is working on three main points this year. The government started the Production Linked Incentive Scheme for production, for which a provision of 10900 crores has been made. Its main objective is that Indian products can be promoted as much as possible in the international market as a brand.
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Financial, technical, and business support is being provided to the private sector, micro food traders, self-help groups, farmers, producer unions, and cooperative institutions under the Ministry of Food Processing's approved scheme - 'PM Formalization of Micro Food Processing Enterprises Scheme'. The goal is to establish two lakh micro food processing units, based on 'one district, one product'. For this, a provision of Rs 10 thousand crores has been made in 5 years. Operation Green Scheme has also added 22 perishable products including Tomato, Onion, and Potato for food processing so that their export can be promoted.
