The food processing ministry is in talks with banks and financial institutions to set up a venture capital fund. By the beginning of the next financial year the venture capital fund would be set up with a corpus of around Rs 1,000-1,200 crore.
The fund would lend on a priority basis to units that deal in perishable items like fruits, vegetables, meat, poultry and fish. However, it is not clear how much the stakeholders, including the food processing ministry would contribute towards this fund. The ministry is in talks with banks for a separate fund to be earmarked for the food processing sector.
Even though the food processing sector enjoys priority status for borrowing, the fund allocated to it is a part of the agriculture sector. This fund often gets exhausted before food processing sector can avail of any of it. Rest of the article
500,000 women to get food processing training
The government Wednesday said it will provide food processing training to 500,000 women in collaboration with industrial training institutes (ITI) as part of its efforts to create 10 million jobs by 2015.
‘The training given to the women will strengthen the food processing sector, which has emerged relatively unaffected from the economic slowdown,’ Minister for Food Processing Industries Subodh Kant Sahai said here.
A vision document for 2015 aims to increase the size of the industry to around $210 billion, besides raising the level of perishable processing from the present 6 percent to 35 percent.
The government is also facilitating setting up of 350 food processing units, Sahai said at an interactive session with members of the Merchants Chamber of Commerce.Rest of the article
For more articles on the Food Processing Sector in India
North East Food Processing Summit 2009 at Gangtok calling Sikkim Enteprenurs to attend
Indian Chamber of Commerce co-sponsored by Ministry of Food Processing Industries, Government of India is organizing a summit cum exhibition focusing North East Agri Business- NORTH EAST FOOD PRO 2009 at Chintan Bhawan, Gangtok on September 22-23, 2009.
ICC has asked Sikkim Chamber of Commerce to send a strong delegation comprising of local entrepreneurs, would be entrepreneurs, traders in bakeries, packagers,etc, Unemployed who like to take up entrepreneurship and existing industrial units, farmers, Horticulturists.
This meet will be addressed by experts on food processing and provides a platform for interaction and knowledge sharing. Their will be a round table discussion of representatives of all North East States.
‘States must formulate food processing policies’
The centre wants states to formulate their food processing policies and set up separate agencies for the sector, said Minister for Food Processing, Subodh Kant Sahai here Wednesday.
Inaugurating a seminar on ‘Growth Potential of Food Processing in India and West Bengal in particular, Sahai said: “ The Ministry has been urging the states to formulate their food processing policies and establish separate agencies dedicated to food processing so that the development activities in this sector can be integrated and synergized.”Rest of the Article
Orissa Govt to put food processing policy in force
BHUBANESWAR: Taking into account the immense export potential and employment generation capacity of the agro and food processing sector, the Orissa Government is all set to put in force a comprehensive State Food Processing Policy soon.
The policy formulated after extensive consultations with exporters, varied groups and stake-holders seeks to promote establishment of food processing industries by providing them conducive operational environment and incentives. The draft policy is under consideration of the Government and would be finalised soon, Minister for Industries, Steel and Mines, Raghunath Mohanty said here today.
In 2008-09, as many as 23,026 agro and food processing units were set up with an investment of Rs 939.23 crore and employing 1.20 lakh people. But export turnover has not been significant enough. In 2005-06, 2006-07 and 2007-08, export of processed food products from Orissa has been Rs 39306.78 lakh, Rs 41033.97 and Rs 39312.15 lakh respectively.Rest of the Article