New Delhi, July 11 (IANS). The Central Government on Saturday said that under the ‘Prime Minister Micro Food Processing Enterprises Formalization Scheme’ (PMFME), loans have been sanctioned to more than two lakh micro food processing enterprises.
Food Processing Industries Minister Chirag Paswan said that crossing the figure of 2 lakh loan approvals, this scheme has raised project investment of more than Rs 20,300 crore.
Speaking at an event to celebrate this historic achievement, the Union Minister said that about 90 per cent of the beneficiaries are first generation entrepreneurs and 44 per cent are women entrepreneurs. Also, more than 75,000 enterprises supported by PMFME have joined the formal economy through registrations like Udyam Aadhaar, Udyam Assist, FSSAI and GST.
He said that this scheme has created about 11 lakh direct and indirect employment opportunities.
Paswan said the achievement of two lakh beneficiaries ‘shows that this vision is translating into measurable results across the country.’ She described the participation of women entrepreneurs at about 44 per cent among all beneficiaries as ‘the true spirit of women-led development and the cornerstone of a developed India’.
The Minister also stressed on the ‘seed capital’ support provided under the scheme, under which more than 4.18 lakh Self Help Group (SHG) members have been helped. Also, the Ministry’s network of 80 Common Incubation Centers has been approved in 27 States/Union Territories, of which 32 have become operational.
Under this scheme, more than 1.76 lakh beneficiaries have been trained, out of which 77 percent are women.
Announcing the launch of the countrywide multimedia awareness campaign, Devesh Deval, Joint Secretary, MoFPI, highlighted the importance of the PMFME scheme. This scheme provides all kinds of support to micro-food processing entrepreneurs from financial assistance, training, handholding, branding and marketing to market linkage.
“PMFME is not just helping enterprises, it is also transforming people’s livelihoods, strengthening local value chains and creating sustainable employment opportunities across the country,” Deval said.
Officials also stressed on the ‘One District One Product’ (ODOP) approach of the scheme and its support for 40 common brands comprising around 200 products. Through this, PMFME is creating local value chains around makhana, millets, spices and GI-tagged products across the country.
–IANS
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