Food Processing Industry
The Indian food industry is considered as one of the sunrise sectors due to its high growth potential and profitability. The Indian food processing industry accounts for 32 per cent of the country’s total food market and is ranked fifth in terms of production, consumption, export and expected growth. It contributes 8.8% of GVA in Manufacturing, 13% of India’s export and almost 6% of Industrial Investment.
India is not only is a large producer of food but also has vast and growing consumer base along with. But Despite its strong agricultural production base, a significant amount of food produce gets wasted in India due to inadequate infrastructure such as packaging facilities, storage, transportation, cold chain, and low levels of processing. According to the Ministry of Food Processing Industry (MoFPI), post-harvest losses account for US$1.5 billion (Rs 92,000 crores) annually..
There is great potential of attracting foreign investment and creating employment opportunities. Ministry of Food Processing Industries, GoI has launched Pradhan Mantri Kisan SAMPADA Yojana with an outlay of Rs. 6000 crores with the focus on creating modern infrastructure with efficient supply chain management to give boost to the food processing sector in the country and reduce wastage of agriculture produce, increase the processing level and increase export of processed foods. Such initiatives by the government to enhance value addition and increase India’s share in global food market, are set to make food processing a promising sector for investment.
PM Formalisation of Micro Food Processing Enterprises Scheme (PMFME Scheme)
The unorganized food processing sector in the country comprises nearly 25 lakh food processing enterprises which are unregistered and informal. This scheme is centrally sponsored scheme that is designated to address the challenges faced by the micro enterprises and to tap the potential of groups and cooperatives in supporting the upgradation and formalization of these enterprises. The scheme adopts One district one product (ODOP) approach to reap the benefit of scale. One of the most significant components of the scheme is capacity building of these existing micro entrepreneurs. For more details please click here.
Skilling for A Better Future
Globalization and increased competition have intensified the need for highly skilled workforce in the economy to meet global standards of quality.
Skill India seeks to give all Indians an opportunity to aspire and achieve better future for themselves and their families. A combination of demographic, economic and social factors make skill development an urgent policy priority for India. The challenge is immense. 54% of India’s population is below 25 years of age and above 62% of population is in the working age group. Yet, only 4.69% of the Indian population has undergone formal skills training.