The Cabinet Committee on Economic Affairs today gave the green light for the new projects and announced that grants totaling Rs7.85bn (€115m) would be made available. The approval comes on top of the 15 schemes currently underway.
Since 2009, India has highlighted the development of its food processing sector as a major factor in driving economic growth.
Supply chain management crucial
Each Mega Food Park is expected to contain between 30 and 40 plants, benefitting thousands of farmers and producers, said the committee in a statement.
Each of the 15 developments is forecast have an annual turnover of Rs5bn and create up to 40,000 direct and indirect jobs.
“The setting up of 15 new Mega Food Parks will result in creation of state of the art infrastructure in major parts of the country with efficient supply chain management from farm gate to retail outlets,” said the Economic Committee. “The projects are expected to bring about substantial reduction of wastage, value addition, employment generation and increased income for the farmers.”
The Government has invited expressions of interest.
The Cabinet committee added: “The Scheme will be implemented in a market driven manner commensurate with both global and national demands. Innovative supply chain management will be the key to implementation of this scheme.”