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An Inter-Ministerial Approval Committee (IMAC) meeting held under the Chairpersonship of Union Food Processing Industries Minister Harsimrat Kaur Badal, has sanctioned 10 projects worth Rs 301.54 crore rupees with total grant-in-aid of Rs 67.29 Cr. The projects were sanctioned under the ‘Agro Processing Cluster Scheme’ of KisanSampadaYojana of Ministry of Food Processing Industries (MoFPI). These projects are likely to generate employment for 10,000 people and benefit nearly 40,000 farmers.
Speaking on the occasion, Badal said, “In the last 15 days, MoFPI has facilitated investments worth Rs 707 crore. The Government through the Ministry of Food Processing Industries is making all efforts to encourage investments in the business. Hundred percent FDI is permitted under the automatic route in food processing industries and 100 percent FDI is allowed through approval route for trading including e-commerce in respect of food products manufactured or produced in India. Hundred percent Income Tax exemption from profit derived from activities such as post-harvest value addition to agriculture by FPOs having annual turnover up to Rs.100 crore is given.
IMAC approved eight projects spread over eight districts of Tamil Nadu under the cluster scheme worth Rs 230 crore in the meeting held on March 4, 2020. These projects envisage the creation of direct and indirect employment for persons along with employment opportunities in rural areas to be the focus area. These projects are likely to generate employment for around 8,000 people and benefit 32,000 farmers in that region.
The ministry has expressed satisfaction over proactive approach of Tamil Nadu government in food processing sector as the state has its own dedicated food processing policy, policy on FPOs and contract farming to encourage setting up of food processing industries by agro-entrepreneurs, availing financial assistance from Union government.
The scheme aims at development of modern infrastructure and common facilities to encourage group of entrepreneurs to set up food processing units based on cluster approach by linking groups of producers and farmers to the processors and markets through well-equipped supply chain with modern infrastructure. The units are set up simultaneously along with creation of common infrastructure.