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"SUFALAM": Start-Up Conclave for Food Processing Inaugurated

Utkarsh Classes 13-02-2024
"SUFALAM": Start-Up Conclave for Food Processing Inaugurated Summit and Conference 4 min read

Union Minister of Food Processing Shri Pashupati Kumar Paras inaugurated "SUFALAM: Start-Up Forum for Aspiring Leaders and Mentors Startup Conclave 2024".

  • He emphasized the importance of events like SUFALAM, highlighting their potential to improve networking, facilitate knowledge sharing, and help startups take advantage of various government schemes. 
  • He stated that this initiative demonstrates the government's unwavering dedication to fostering entrepreneurship and building a supportive ecosystem for startups, which in turn empowers aspiring entrepreneurs in the food processing industry.

About SUFALAM

  • The Startup Conclave for Food Processing Entrepreneurs has the potential to be a game-changing event, driving the sector towards a future marked by innovation, sustainability, and inclusive growth. 
  • As startups come together to exhibit their creativity and foresight, the conclave acts as a source of inspiration, encouraging the upcoming generation of food processing leaders to push the limits of what's possible.

Food processing - 'A Sunrise sector'

  • India's food industry presents lucrative investment opportunities, driven by growth in the food retail sector, favorable economic policies and attractive fiscal incentives. 
  • The Ministry of Food Processing Industries (MoFPI), under the Government of India, is taking all necessary steps to encourage investments in the food processing industry in the country.. 
  • Some of the initiatives include:
    • The Pradhan Mantri Kisan Sampada Yojana (PMKSY) has been introduced to develop modern food processing infrastructure. It is a complete package which will create efficient supply chain management from farm gate to retail outlet. 
    • The Pradhan Mantri Formalisation of Micro Food Processing Enterprises Scheme (PMFME) is designed to enhance existing individual micro-enterprises in the unorganized segment of the food processing industry. 
    • The Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) aims to boost domestic manufacturing, increase exports, and support food manufacturing. 
    • The government is striving to make India the Global Hub for 'Shree Anna' (Millets). 
    • In the food processing industries in India, 100% FDI is permitted under the automatic route. 
    • Additionally, through the government approval route, 100% FDI is allowed for trading, including through e-commerce in respect of food products manufactured or produced in India.

 

 

FAQ

Answer: Startup Conclave for Food Processing Entrepreneurs

Answer: To develop modern food processing infrastructure
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