Jammu And Kashmir Launches A Project Of Food Processing For Rs 879 Crore

120
23 Jan 2023
5 min read

News Synopsis

The government of Jammu and Kashmir has started a large-scale project with the goal of revolutionizing the food processing industry and improving the lives of farmers in the UT. An official statement on Sunday described the  "UT Level Food Processing Programme for Development of Clusters for Specific Products of J&K" is a Rs 879.75 crore initiative that aims to maximize farmer income and minimize post-harvest losses,

"This comprehensive project has been designed to increase the competitiveness of seven identified products across categories in terms of cost, quality, branding, and sustainability within five years. The government is investing in value addition, logistics, marketing and branding of various agricultural, horticultural and livestock products to achieve this goal," It continued.

With the building of processing and marketing infrastructure, the project will concentrate on improving 17 districts in J&K, giving stakeholders chances for growth and development, and permitting appropriate economies of scale in production and post-harvest activities.

The government has allocated Rs 879.75 crore for the project, which includes a grant-in-aid of Rs 293.25 crore (33.33%) and Rs 586.50 crore in debt-equity to be raised by entrepreneurs. The project will result in the establishment of 34 enterprises and the creation of 7030 direct employment, with an annual revenue generating expectation of Rs 1,436.04 crore.

One of the 29 projects that were approved by the Jammu and Kashmir administration after being recommended by the UT Level Apex Committee for the comprehensive development of Agriculture and allied sectors in UT of J&K is the "UT Level Food Processing Programme for Development of Clusters for Specific Products of J&K" 

Within five years, this extensive project's goal is to make seven identified items more competitive across categories in terms of price, quality, branding, and sustainability. According to the statement issued on Sunday evening, the government is making investments in value-addition, logistics, marketing, and branding of diverse agriculture, horticulture, and animal goods to meet this objective.

Podcast

TWN Special