The government on Thursday said it has sanctioned 32 projects in the food processing sector leveraging an investment of Rs 406 crore under the Pradhan Mantri Krishi Sampada Yojana (PMKSY). These projects are spread in 17 states and aim to create employment for 15,000 people.
They were cleared under the 'unit' scheme of PMKSY by the Inter-Ministerial Approval Committee chaired by Food Processing Minister Harsimrat Kaur Badal, an official statement said.
Meetings of the Inter-Ministerial Approval Committee (IMAC) to sanction these projects were held on February 21 and 26, it said, adding that the projects approved are running across quadrilaterals of the country covering over 100 agro-climatic zones.
The main objective of the scheme is creation of processing and preservation capacities and modernisation/expansion of existing food processing units with a view to increasing the level of processing and value addition, leading to reduction of wastage.
According to the ministry, the processed food market is expected to grow to $543 billion by 2020 from $322 billion in 2016.
The period of implementation of PMKSY is 2016-20 and total outlay is Rs 6,000 crore.It has seven component schemes -- mega food parks, integrated cold chain and value addition infrastructure, infrastructure for agro-processing clusters, creation of backward and forward linkages, creation/expansion of food processing and preservation capacities, food safety and quality assurance infrastructure, and human resources and institutions.