Jammu and Kashmir govt launches Rs 879-crore food processing project

The project shall create 7,030 direct jobs and lead to establishment of 34 enterprises with expected revenue generation to the tune of Rs 1,436.04 crore every year

food processing
The government has allocated a budget of Rs 879.75 crore for the project including a grant-in-aid of Rs 293.25 crore (33.33 per cent) and a debt-equity of Rs 586.50 crore to be raised by entrepreneurs
IANS Jammu
2 min read Last Updated : Jan 22 2023 | 8:37 PM IST

The Jammu and Kashmir government has launched an ambitious project targetted to revolutionise the food processing sector and transform the lives of farmers in the UT.

The "UT Level Food Processing Programme for Development of Clusters for Specific Products of J&K" is a Rs 879.75 crore initiative that aims to maximise farmer income and minimise post-harvest losses, an official statement said on Sunday.

"This comprehensive project has been designed to increase the competitiveness of seven identified products across categories in terms of cost, quality, branding, and sustainability within five years. The government is investing in value addition, logistics, marketing and branding of various agricultural, horticultural and livestock products to achieve this goal," it said.

The project will focus on developing 17 districts in J&K with establishment of processing and marketing infrastructure, providing growth and development opportunities to stakeholders, and facilitating suitable economies of scale in production and post-harvest activities.

The government has allocated a budget of Rs 879.75 crore for the project including a grant-in-aid of Rs 293.25 crore (33.33 per cent) and a debt-equity of Rs 586.50 crore to be raised by entrepreneurs.

The project shall create 7030 direct jobs and lead to establishment of 34 enterprises with expected revenue generation to the tune of Rs 1,436.04 crore every year.

"UT Level Food Processing Programme for Development of Clusters for Specific Products of J&K" is one among the 29 projects, which were approved by the Jammu and Kashmir administration after being recommended by the UT Level Apex Committee for holistic development of Agriculture and allied sectors in UT of J&K.

--IANS

zi/vd

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Jammu and KashmirJammu and Kashmir government

First Published: Jan 22 2023 | 8:37 PM IST

Next Story