Proposal for upscaling of the central sector scheme of Infrastructure Development for Food Processing : Mega Food Parks approved
The Cabinet Committee on Economic Affairs today approved setting up of five more Mega Food Parks under the ongoing Infrastructure Development Scheme in addition to 10 on going projects, involving a total Government grant of ` 250 crore.
The Scheme which was approved by the Government in September, 2008 envisages raising the processing of perishables in the country from the existing 6% to 20%, value addition from 20% to 35% and the share in global food trade from 1.5% to 3% by the year 2015. It aims at providing excellent infrastructure facilities for food processing industries along the value chain from the farm to the market.
Each Mega Food Park is expected to generate the following financial outcomes:
i. Expected to benefit 6000 farmers / producers directly and 25000-30000 farmers indirectly,
ii. Estimated investment in each project will be about ` 100 crore in Common facilities and will leverage an additional investments about of ` 250 crore
iii. Expected annual turnover of each project will be ` 500 crore
iv. Each Mega Food Park will generate about 40,000 direct and indirect jobs.
v. In each Project, an estimated number of 30-40 food processing industries are expected to be setup.
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HS/VBA/SKS