Badal stated, “India is one of the largest producers of milk, fruits and vegetables, marine products, meat and poultry and there is an urgent need to create adequate cold chain capacity in the country for preventing wastage.”
The minister informed that the scheme for cold chain, value addition and preservation infrastructure provided financial assistance up to Rs 10 crore for entrepreneurs. A total of 138 integrated cold chain projects were approved by the government, which include 30 new cold chain projects sanctioned recently for implementation and would attract an investment of Rs 470 crore.
Out of 108 projects that are under implementation by the ministry, 52 have already achieved completion and commenced commercial operation. It is expected that operationalisation of these 138 projects would create capacity of (a) 4.76 lakh MT of cold storage, controlled atmosphere (CA)/ modified atmosphere (MA) storage, deep freezer (b) 118.5 MT per hour of individual quick freezing (IQF) (c) 118.05 lakh litre per day (LLPD) of milk processing and storage and (d) 810 reefer carriers.
Badal stated that recently, Reserve Bank of India classified loan to food and agro-based processing units and cold chain under agriculture activities for Priority Sector Lending (PSL) subject to aggregate sanctioned limit of Rs 100 crore per borrower. It will ensure greater flow of credit to entrepreneurs for setting up food processing units and attract investment in the sector.
She informed that an ‘Investors’ Portal’ has been developed by the ministry with the intention to disseminate information on the state-specific resource potential, policy support and fiscal incentives offered to investors in food processing sector.
The minister expressed confidence that such summits would help in understanding the intricacies and complexities of the issues involved and would bring up suggestions which would help in devising a clear and concrete roadmap towards stimulating growth of this sector.
