In 2024, the Ministry of Food Processing Industries (MoFPI) achieved significant milestones, driving growth in farm incomes, job creation, and reduction of post-harvest losses.
The ministry’s focus on improving infrastructure for preservation and processing, along with its various schemes, has been crucial to developing the food processing sector.
Here’s a recap of the key achievements and initiatives undertaken by MoFPI during the year.
Sectoral Growth and Increased Exports
The processed food sector saw notable growth, with the share of processed food in agri-food exports increasing to 23.4% in 2023-24, a jump from 13.7% in 2014-15.
Additionally, the sector remains one of the largest employment generators in the organized manufacturing segment, contributing 12.41% of total employment in the sector, according to the Annual Survey of Industries (ASI) report for 2022-23.
To further support the sector, the Government of India increased the budget allocation for the ministry by 30.19%, raising it to Rs. 3,290 crore for the fiscal year 2024-25.
This financial boost is aimed at enhancing food processing infrastructure and promoting investments across the country.
Pradhan Mantri Kisan Sampada Yojana (PMKSY)
The Pradhan Mantri Kisan Sampada Yojana (PMKSY) continued to be a flagship scheme for the ministry, with 143 new projects approved in 2024.
These projects have already created processing and preservation capacities of 14.41 lakh metric tons, benefiting approximately 3.53 lakh farmers and generating over 57,000 jobs.
Since its inception, 1,646 projects have been approved under PMKSY, resulting in processing capacities of 241.94 lakh metric tons and investment commitments worth Rs. 22,778 crore.
PMKSY has also played a significant role in reducing food wastage. Studies revealed that 70% of completed cold chain projects showed a substantial reduction in wastage, especially in fisheries and dairy products, where wastage was reduced by 70% and 85%, respectively.
Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Scheme
Under the PMFME scheme, introduced as part of the Atmanirbhar Bharat initiative, 46,643 loans were sanctioned in 2024. Additionally, Rs. 254.87 crore was provided as seed capital to 71,714 Self-Help Group (SHG) members.
The scheme, extended until FY 2025-26, aims to formalize and support two lakh micro food processing enterprises with a focus on “One District, One Product.”
A total of 1,14,388 loans have been sanctioned since the launch of the scheme, and Rs. 1,032 crore has been distributed as seed capital assistance.
The ministry also approved 76 incubation centers, with 15 already operational, to assist micro-enterprises with product development.
Production Linked Incentive Scheme (PLISFPI)
The Production Linked Incentive Scheme for Food Processing Industries (PLISFPI) has also shown promising results.
A total of 171 proposals were approved in 2024, leading to an investment of Rs. 8,910 crore and creating 2.89 lakh jobs.
The scheme supports the manufacturing of Ready-to-Eat (RTE) and Ready-to-Cook (RTC) foods, millet-based products, marine products, and mozzarella cheese, among other categories.
World Food India 2024
The global event “World Food India 2024,” held from September 19-22 in New Delhi, showcased India’s food processing potential.
The event attracted over 2,390 foreign delegates, 1,557 exhibitors, and 809 buyers from 108 countries.
Key features included the display of 1,100 pickle varieties and the promotion of 550 ODOP products.
During the event, Rs. 245 crore was sanctioned to support 70,000 SHG members, and Rs. 701 crore in subsidies was disbursed to 25,000 beneficiaries under the PMFME scheme.
Conclusion
The Ministry of Food Processing Industries’ efforts in 2024 have resulted in significant growth in exports, employment, and investments while reducing post-harvest losses.
These achievements have strengthened India’s position as a global leader in food processing, promoting self-reliance and creating opportunities for farmers, micro-enterprises, and industries alike.