The Pradhan Mantri Micro Food Processing Enterprises Upgradation Scheme (PMFME) is an important initiative aimed at empowering micro food processing industries across the country. This scheme offers a great opportunity for entrepreneurs in the food industry. The central government has launched this scheme to support micro food processing businesses by providing financial, technical, and business assistance. It gives millions of youth and small entrepreneurs the chance to create their employment opportunities.
Features of the Scheme
The Pradhan Mantri Micro Food Processing Enterprises Upgradation Scheme offers several benefits to micro food industries. Under this scheme, a credit-linked capital subsidy of up to 35% of the project cost is provided. Additionally, seed capital of ₹40,000 is given to members of self-help groups (SHGs). Producer cooperatives and FPOs/SHGs also receive a 35% credit-linked grant for capital investment.
The scheme also offers support for marketing and branding, access to shared infrastructure, and training for capacity building. The main goal is to develop and formalize micro food processing industries across the country.
A step towards economic resilience #aatmanirbharbharat, the FME scheme-with an outlay of 10,000 Crores shall seek to leverage investment worth 25000 Crore and generate gainful #employment for 9 lac people over the next 5 years.
Get ready to script your food story. pic.twitter.com/JC4Jk7xsLY
— Ministry of Food Processing Industries (@MOFPI_GOI) May 20, 2020
Application Process and Eligibility
Anyone involved in the food industry can benefit from this scheme. To apply, the applicant must have at least an 8th-grade education. There is no requirement for a civil fine or RTR (Registration-Trade-Register), which makes the scheme accessible to more people.
To apply, entrepreneurs should contact their nearest District Horticulture Officer office. The government also offers a discount of up to ₹10 lakh on projects of up to ₹30 lakh for setting up an industry under this scheme.
Self-Employment Opportunities
The biggest benefit of this scheme is that it offers small and medium-level entrepreneurs the chance to set up their own self-employment in the food processing sector. It is especially useful for those who are unemployed or wish to start a small business. This scheme is a great opportunity for the youth to start a business near their homes. So far, 47 entrepreneurs have set up small food industries under this scheme, with 40 more in the process. This demonstrates the scheme’s success in generating employment.
