Govt to announce setting up of 17 mega food parks next week

Image
Press Trust of India New Delhi
Last Updated : Mar 20 2015 | 8:42 PM IST
The government is likely to soon announce allocation of 17 mega food parks, entailing a total investment of Rs 2,100 crore, to various firms for development.
A mega food park provides various facilities to food processors, farmers, retailers and exporters, helping achieve faster growth of food processing industries.
According to sources, Food Processing Minister Harsimrat Kaur Badal is likely to announce next week the sanctioning of these 17 mega food parks in states including Punjab, Haryana, Andhra Pradesh, Karnataka, Kerala, Telangana, Odisha, Gujarat, Maharashtra, Madhya Pradesh, Tamil Nadu and Bihar.
The total investment in these mega food parks is estimated at Rs 2,100 crore, of which the government's contribution would be to the tune of Rs 850 crore, they added.
In these mega food parks, 50,000 people are expected to get employment while 80,000 farmers would also be benefitted.
Under the scheme (2008-09) of mega food parks, the Food Processing Ministry had sanctioned 42 projects throughout the country. Of these, 25 parks have already been allocated.
"...We have received proposals for allocations of food parks, we are in the process of evaluating those proposals and I think very soon we would be able to allocate these food parks," Badal had said earlier this month.
The Minister had also said that it would be ensured that at least one Mega Food Park is established in every state.
The Food Processing Ministry has received 72 proposals from various firms including Adani Group, ITC and Future Group for 17 food parks. These mega food parks will attract a minimum investment of about Rs 125 crore each.
Badal had further said only 2 per cent of total fruits, vegetables and grains produced in the country are processed.
The Mega Food Park Scheme, based on cluster approach, is modelled on hub and spoke architecture. It aims at facilitating the establishment of a strong food processing industry backed by an efficient supply chain, which includes collection centres, central processing center (CPC) and cold chain infrastructure.
The scheme envisages one time capital grant of 50 per cent of the project cost (excluding land cost) subject to a maximum of Rs 50 crore in general areas, and 75 per cent of the project cost (excluding land cost) subject to a ceiling of Rs 50 crore, in difficult and hilly areas including north east region and J&K.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 20 2015 | 8:42 PM IST

Next Story