The fruits and spices processing industry in Andhra Pradesh and Telangana is poised for a significant growth. Bountiful availability of raw material along with positive policy environment that will build supply chain infrastructure is likely to create many new enterprises. This blog discusses the new opportunities, policy initiatives and funding availability for the industry.
What are the opportunities?
Pic: 1 – Food Processing Industry: Government Policy
Note: Enclosed is a link to the Food Processing Policy of AP
Creation of Infrastructure for Food Processing Industry
GOI as part of its Mega food park scheme has sanctioned four food processing parks in Telangana. The details are as under
Andhra Pradesh has SRINI Food Park in Chittoor, which is operational. Further, the state government has proposed to set up 8 mega food parks. Five of these parks will be located in the coastal districts of Srikakulam, Vizianagaram, Visakhapatnam and East Godavari. Three more parks are proposed in the Rayalaseema in Chittoor, Kurnool and Anantapur.
Funding for Food Processing Industry
A fund of Rs. 2000 crore has been created under NABARD to fund the term loan for food processing industry. The fund is available for food parks as well as units that are located in food parks. Key features of loan are as under:
- The loan is available to food processing units located in designated food parks
- The list of activities that would be funded include fruits/vegetable/dairy/meat/aqua/herbs/nutraceutical/food flavours, colours, detailed list is available in the link here
- Maximum 75% of the project cost would be funded through term loan. Project cost would include site development/machinery/consultancy charges/capitalised working capital/pre-operative interest etc. If the individual is purchasing land (not leasing), 10 % of the land cost would also be included
- Term loan would be for a period of 7 years, The rate of interest would be linked to the prevailing interest
- Collateral would be required
How can we help you:
If you are interested in setting up a food processing industry, there is no better time than now. We at FineTrain can assist you in starting a fruit/spices processing unit. Our services include
- Market viability assessment
- Detailed project report preparation
- Technical support
Call us: 800 888 4932 /9032398367
Visit us: www.finetrain.com
 Food parks and mega food parks promoted by Ministry of food processing, food parks/food processing industrial estates promoted by State governments, Food processing SEZ, Any other area that has related infrastructure and has been designated as food park, the MOFPI has provided a list of such entities