Make In india Scheme Feeds Food Processing Sector's Appetite For Boom, Employment Surges
India's meal processing industry is experiencing good-data-sized growth, spurred by the Make in india scheme. government figures spotlight the arena's capability for further growth.
Statistics well-known shows that the gross cost introduced has risen from 1.61 lakh crore in 2015-16 to at least 1.92 lakh crore in 2022-23. This translates to an average annual boom price of about 5.35% during the last eight years.
Encouragingly, this boom has created jobs, with employment figures rising from 17.73 lakh in 2014-15 to twenty-sixty-eight lakh in 2021-22.
The government attributes this increase to the Make in india initiative's emphasis on food processing. The program has introduced several incentives to foster local and indigenous meal production and expertise. This surge in meal processing will directly advantage the agricultural quarter that's navigating uncertainties related to US tariff guidelines.
However, government assets emphadata-size that there is no reason for the situation. They factor into the sector's progressively increasing contribution to India's exports. In 2023-24, agri-food exports constituted about 23.4% of total exports, as compared to 13.7% in 2014-15.
Several landmark projects had been instrumental in revitalizing the sector. In the past 12 months by myself, 1,608 new tasks have been launched, encompassing forty-one mega food parks, 394 bloodless chain tasks, and 75 agro-processing cluster projects. These endeavors aim to improve farmer incomes, minimize agricultural waste, and raise processed meal exports, in the long run leading to a doubling of farmers' income.
Moreover, these tasks have generated employment for 2.84 lakh people. The encouragement of recent industries, which include makhana (fox nut) production, diversifies India's financial sectors and complements its global competitiveness within the superfood market.
This success tale provides treasured insights for destiny innovation inside the meals processing enterprise.
India's meal processing industry is experiencing good-data-sized growth, spurred by the Make in india scheme. government figures spotlight the arena's capability for further growth.
Statistics well-known shows that the gross cost introduced has risen from 1.61 lakh crore in 2015-16 to at least 1.92 lakh crore in 2022-23. This translates to an average annual boom price of about 5.35% during the last eight years.
Encouragingly, this boom has created jobs, with employment figures rising from 17.73 lakh in 2014-15 to twenty-sixty-eight lakh in 2021-22.
The government attributes this increase to the Make in india initiative's emphasis on food processing. The program has introduced several incentives to foster local and indigenous meal production and expertise. This surge in meal processing will directly advantage the agricultural quarter that's navigating uncertainties related to US tariff guidelines.
However, government assets emphadata-size that there is no reason for the situation. They factor into the sector's progressively increasing contribution to India's exports. In 2023-24, agri-food exports constituted about 23.4% of total exports, as compared to 13.7% in 2014-15.
Several landmark projects had been instrumental in revitalizing the sector. In the past 12 months by myself, 1,608 new tasks have been launched, encompassing forty-one mega food parks, 394 bloodless chain tasks, and 75 agro-processing cluster projects. These endeavors aim to improve farmer incomes, minimize agricultural waste, and raise processed meal exports, in the long run leading to a doubling of farmers' income.
Moreover, these tasks have generated employment for 2.84 lakh people. The encouragement of recent industries, which include makhana (fox nut) production, diversifies India's financial sectors and complements its global competitiveness within the superfood market.
This success tale provides treasured insights for destiny innovation inside the meals processing enterprise.
