Category: Entrepreneurship

Tourism Industry welcomes the schemes announced by the Ministry of Finance for augmenting the tourism sector in fight against COVID-19 pandemic

Posted on by Business So Simple in Entrepreneurship

Union Finance Minister Smt. Nirmala Sitharaman announced the relief package Rs 6,28,993 crore to support Indian economy in fight against COVID-19 pandemic on 28th June 2021.  The financial support to revive tourism in the country was announced with support to many other sectors to stimulate the economic growth.

Scheme for Travel and Tourism Stakeholders and Registered Tourist Guides

Financial support to more than 11,000 registered Tourist Guides / Travel and Tourism Stakeholders. Under the new Loan Guarantee Scheme for Covid Affected Sectors, working capital / personal loans will be provided to people in tourism sector to discharge liabilities and restart after being impacted due to COVID-19. The scheme will cover 10,700 Regional Level Tourist Guides recognised by the Ministry of Tourism and Tourist Guides recognised by the State Governments and Travel and Tourism Stakeholders (TTS) recognized by the Ministry of Tourism. TTS’s will be eligible to get a loan upto Rs. 10 lakh each while tourist guides can avail loan upto Rs 1 lakh each. There will be no processing charges, waiver of foreclosure / prepayment charges and no requirement of additional collateral. Scheme to be administered by the Ministry of Tourism through NCGTC.

Free Tourist Visa to 5 Lakh Tourists

As per the announcement, once Visa issuance is restarted, the first 5 lakh Tourists Visas will be issued free of charge. The benefit of free of charge visa will be available only once per tourist during the issuance of the first 5 lakh tourist visas (free of charge visas). The scheme will be applicable till 31st March 2022 or till 5,00,000 visas are issued, whichever is earlier.

Ministry of Finance gives concurrence to release SEIS scrips on 16.06.2021

Ministry of Finance has given concurrence to release SEIS scrips on 16.06.2021.  Earlier, several Industry stakeholders had flagged appeals to the government to release SEIS Scrips for 2019-20 and DGFT had put a detailed proposal for the allocation for SEIS for exports made during 2019-20. Taking all circumstances into account, the Department of Expenditure, Ministry of Finance has given concurrence to the proposal of Department of Commerce for continuation of SEIS for 2019-20 with a financial allocation of Rs.2061 crores subject to the condition that the amount will be provided through Expenditure Budget following the procedure of providing a New Minor Head.

These above moves are expected to immensely help the stakeholders in the sector by providing them much required liquidity and gear up for the operations in near future. Similarly, it is also expected to provide much needed relief to the government approved tourist guides who have been affected by the ongoing slowdown in the sector due to the pandemic.

Tourism Industry welcomed these measures announced by the Government. “The tourism focussed announcements are very welcome. This is a step in the right direction. We however do request that the sum of Rs 10 lakhs be increased. The industry has been damaged very deeply and we need greater support not only to survive but to work on recovery. On the Visas, a very good gesture, but let us show the world the true spirit of Atithi Devo Bhava and make it free for all till December 2022. Today’s announcements are a positive start for sure, but more assistance is needed very quickly to help with our recovery” opined Rajeev Kohli, Joint Managing Director, Creative Travel & Past Senior Vice Present IATO and Vice Chairman ICPB

Mr. Rajiv Mehra, President, Indian Association of Tour Operators (IATO), the apex association of tour operators in the country said “We are grateful to the Prime Minister and  Finance Minister for giving some relief to the tourism industry including 5 lakh free visas applicable till 31st March 2022, whenever visas are open, and we are grateful to the Tourism Minister for supporting the industry, giving relief to the affected sector including Tour Operators and registered tourist guides in tourism sector. IATO thanked the Government for considering loan to the tour operators and the guides but requested that the Government should also consider giving one-time financial grant to all recognised tour operators.”

Reacting to the announcement, Mr. Ashok Sharda, Past President, Tourist Guides Federation of India said, “Decision by the tourism ministry to provide some financial assistance to regional guides and exempt visa fee to first 5 lac tourists is a welcome step Regional guides who have been unemployed for the last 15 months were hoping for some relief from the ministry. It may not be substantial but good to know that we have not been orphaned”

Expressing satisfaction on this move of the Government, Ms. Ekta Watts, Executive Committee member of Association of Domestic Tour Operators of India (ADTOI) & Chairperson Women empowerment CSR activity and LEO Initiator said “A very positive step by Finance Ministry to announce financial support for the tourism sector under reviving tourism scheme. This surely is appreciated and long awaited move by the government which will definitely give travel industry revitalization”

*******

Shri Piyush Goyal calls upon the Chartered Accountants of the country to think big and scale up

Posted on by Business So Simple in Entrepreneurship

Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution Shri Piyush Goyal today called upon the Chartered accountants of the country to think big and scale up to the global levels. Speaking at 73rd Chartered Accountants’ Day Programme organised by the Institute of Chartered Accountants of India, he said that we need a complete mindset change, a reset of ambitions in our profession. The companies should look at mergers, acquisitions, partnerships and larger ventures, and become world class, he added.

Shri Goyal said “When theICAIturns 75, can we look at having our first set of global world class chartered accountancy firms serving clients worldwide.” The Minister said that the institute must look at the world class ethics, technical know-off and stringent standards as it grows. He said that if we have to earn the goodwill, respect & trust of the world, we will need 100% credibility ingrained in every single one of us. Heurged each& every CA & CA student, as part of their collective responsibility to maintain the flag of the institute high. “We will do it, we can do it & we certainly are committed to doing it. For us to be a partner in the nation’s progress, we will all have to start seeing how we can be engaged in the startup ecosystem.”

Lauding the profession of CAs, Shri Goyal said that it is great to see a profession which is recognised & respected. There is a yearning for people to be Chartered Accountants. It has taken it upon itself to continue to serve the economy, carry out our professional duties & continue to educate our students. He said that the Institute has 72 years of accomplishments, achievements and trust. They have been in the service of the nation, service of business and contributing to the nation’s economy. He said “To me, the I.C.A.I should reflect Integrity, Commitment, Accountability, and Intellect.We are amongst the top accounting bodies in the world. The world has seen in our institute high standards of ethics, technical know-how& very stringent examination standards.”

Shri Goyal called upon the institute to be an active participant in the nation’s vaccination campaign, and play a role in helping people overcome vaccine hesitancyby generating awareness and even adopting a few villages or certain areas for providing the vaccination. He said that the vaccination drive is proceeding rapidly across the country.

****

Ministry of Commerce & Industry Press release dated 01st July 2021

YB

India will be playing a much greater role in the post pandemic world in creating resilient supply chains

Posted on by Business So Simple in Entrepreneurship

Ministry of Commerce & Industry, Press Release dated 30th June 2021

Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution Shri Piyush Goyal today said that India will be playing a much greater role in the post pandemic world in creating resilient supply chains. Speaking at the India Global forum today, he said that we are looking at a greater degree of engagement with countries that are democratic in their political system with which we can relate& trust as a partner. He added that India is working towards greater engagement with countries with which we have a shared ecosystem, countries which believe in transparent rules based trading mechanisms. He said that India is talking to UK, Australia, Canada and EU for trade related matters, and is keen to speed them up.

Shri Goyal said that our trusted partners can look for a greater role for India, and we are opening our doors wider. The Minister said that we are looking at investments, technology, high quality goods, equipment, machinery. “We will be looking at providing high quality technology support to our services & IT sector”.

Shri Goyal said that India has tried in WTO to promote a waiver on TRIPS so that vaccines & other medicines can be available to everyone across the world. He said that it is unfortunate that some European countries are not supporting the initiative and have preferred profit over prudence.

Shri Goyal said that we are confident that India will continue to maintain precautions & COVID protocols. He said that we are going to maintain our safeguards & masks. The Minister highlighted that despite being a developing nation, India has already crossed about 340 million vaccines. “We are currently doing 5 million a day which we hope to ramp up further in the days to come. We are happy to share our learnings with other countries. Our COWIN app through which we have done the vaccination programme has been a remarkable success & now large parts of the world are asking us for the COWIN app to be implemented in their countries.”

Shri Goyal said that India has done a record growth in exports in our first quarter despite the second wave of COVID. Similarly, the Railway freight from April-June 2021 is the highest ever in the history of Indian Railways,

Yb/SS

*****

Atal Innovation Mission concludes first fintech cohort of ‘AIM-iLEAP’(Innovative leadership for entrepreneurial agility and profitability)as major step to accelerate Tech Start-ups across India

Posted on by Business So Simple in Entrepreneurship, Science & Technology, Startups

In a move to give a major push to tech startups across the country, Atal Innovation Mission, NITI Aayog Wednesday concluded its first fintech cohort of AIM-iLEAP- an initiative to back tech start-ups with much-needed access to industry, markets and investors.

The fintech cohort was done through a series of thematic virtual demo days organised AIM in partnership with Startup Réseau and Visa as part of AIM-iLEAP (Innovative leadership for entrepreneurial agility and profitability) initiative.

The program had kickstarted with the inaugural four-day bootcamp for “FinTech” start-ups (the chosen few from among the several AIM supported Fintech start-ups) from 14th to 17th June, 2021.

The Fin-Tech cohort consisted of start-ups from a wide range of areas such as- payments, international money transfers, personal finance, consumer banking, insurance, neo bank etc. In the bootcamp they got an opportunity to fine-tune their pitches, work on their GTM strategy, understand more about the fintech ecosystem, ask questions to sectoral experts and so on.

After going through rigorous polishing, the start-ups showcased their solutions to various enterprises for market access and investors for funding via the inaugural virtual Demo Day on 30th June 2021. The Demo Day saw participation from a large number of corporates and investors. Fintech giants such as Visa, Paytm etc as well as big investors attended the program.

As per the AIM’s mission, AIM-iLEAP bootcamp and demo day is the first among the many more to come initiatives to push startups in the country. Future cohorts shall be focussed on different sectors such as Agri-tech, Defence Tech, Smart Mobility, AI and so on.

While speaking on the virtual event today, Mission Director AIM, NITI Aayog Dr Chintan Vaishnav said that the main mandate of AIM is to catalyse India’s start-up and innovation ecosystem and the AIM-iLEAP program is a step in that direction.

 “It gives a structured yet lite-weight approach to bring together the start-ups, enterprises, investors and financers to come together and create partnerships that would help these start-ups to take a leap forward in achieving more scalable and sustainable solutions,” he asserted.

He further said that this will help to build trust and confidence among all the stakeholders which are the vital ingredients of a vibrant start-up and innovation ecosystem. Fintech community is at the forefront of building an ecosystem where everyone wins; such platforms catalyze movement towards reaching such a goal. It is AIM’s main objective to culminate into reality the vision of an Indian innovation ecosystem that runs sustainably on an auto-pilot mode.

Partnered with AIM, Startup Réseau aims to attract participation from 80 – 100 corporates for a series of 12 thematic bootcamps and Virtual Demo Days, over the course of the program.

 It has developed a structured, result-driven model, for providing an environment to the corporations to set up new rules, enabling a possibility to proactively spot new ideas on the edge, as well as at the core of its business, and a place where such disruptive ideas can be protected from the organization while also being supported by it.

Founder & CEO, Startup Réseau Ajay Ramasubramaniam while speaking during the virtual event said “We firmly believe that successful models of incubation and acceleration of start-ups require broader participation of the industry at large. Atal Innovation Mission is a fantastic enabler of incubators and the infrastructure supporting innovation and entrepreneurship.”

He added that Startup Réseau brings a strong global network of mentors, enterprise connections and investors that can be leveraged by these start-ups supported under Atal Incubation Centres. Through AIM iLEAP, the AIM is to enable next-gen start-ups in India, through a series of bootcamps and demo days that will open up access points.

AIM has also onboarded an industry partner Visa-a corporation known globally for backing entrepreneurship. The digital payments company will be extending their API’s and services to the start-ups. They will also provide the B2B and B2C start-ups their platform for digitized payments.

Commenting on the partnership, Arvind Ronta, Head – Products, India and South Asia, Visa said, “Visa has always been a reliable partner for fintech’s across the world and in India, whether by opening our APIs to them or through programs like Visa Everywhere Initiative. Now, we are excited to collaborate with the AIM for the AIM iLEAP program and work with tech start-ups across India. Through this partnership, we hope to enable opportunities for India’s innovative start-up ecosystem to take secure, scalable solutions to market faster.” 

Meanwhile, the Demo Day started off with a keynote address on maximising customer experiences for the fintech players by a seasoned fintech expert, Jitendra Gupta, founder of neo-banking start-up Jupiter and Citrus Pay.

This was followed by a panel discussion on ‘Facilitating innovation for corporates and start-ups in Fin-tech sector’.

It was a riveting and insightful discussion presided by prominent and distinguished personalities from some of the national and international fin-tech giants, Including Pramod Mulani, head digital of India and South Asia at Visa, Lincy Therattil, Head – Open Innovation at Barclays, Dr Chintan Vaishnav, Mission director of Atal Innovation mission and Ajay Ramasubramaniam, founder and CEO of Startup Réseau.

A closed-door pitching session by the eight AIM supported fintech start-ups to the investors and enterprises from was also held today. The demo day was concluded with the closed room networking session between the start-ups and investor/enterprises. The Demo Day saw participation from some marquess names in the fin-tech enterprise and investor ecosystem including fintech giants such as Visa, Paytm amongst others.

The start-ups that were showcased includes FinOS, VillPay, Kutumba, Mudracircle,  Earnhance (Mkix Pvt Ltd) , Yottol , Strafox Consulting India Pvt Ltd, and Finaara Technologies Pvt Ltd.

The objective of the AIM-iLEAP program is to invite technology start-ups across a broad range of functions and have them present their solutions to the corporate leadership and innovation team for enabling market access and industry partnerships. On the other hand, individual and institutional investors participating in this program shall consider investing in the curated set of AIM supported start-ups.

Working as an apex body for innovation and entrepreneurship in the country, AIM has access to over 2000+ tech start-ups pan-India through its member base of 65+ business incubators, 24 ACICs, 15 ARISE-ANIC and over 7200+ATLs.

Niti Aayog Press release dated 30 June 2021

DS /AKJ

Entrepreneur dossier-30th June 2021

Posted on by Business So Simple in Entrepreneurship, Thought of the day

Entrepreneur dossier-30th June 2021

Thought of the day

“The question I ask myself almost every day is, ‘Am I doing the most important thing I could be doing?’’— Mark Zuckerberg

Spiritual Economics from Bhagavad Gita As It Is https://krishna.org/spiritual-economics-from-bhagavad-gita-as-it-is/

Chanakya’s taxation https://www.thenews.com.pk/print/497114-chanakya-s-taxation

7 Lessons from Ramayana for every entrepreneur https://ourownstartup.com/7-lessons-from-ramayana-for-every-entrepreneur/

Management Learnings From “Vidur Niti” in Mahabharata http://thepeoplemanagement.com/management-learnings-from-vidur-niti-in-mahabharata-aparna-sharma-consulting-editor-the-people-management/

7 Entrepreneurship Lessons To Be Learnt From Old Fables https://inc42.com/entrepreneurship/startups-stories-lessons/

Regards,
Bipul Kumar

MOU BETWEEN INDIAN NAVY AND M/s BEL FOR TECHNOLOGY INCUBATION FORUM (TIF)

Posted on by Business So Simple in Entrepreneurship, Science & Technology

Ministry of Defence Press release dated 29th June 2021

A Memorandum of Understanding (MoU) was signed between the Indian Navy and M/s Bharat Electronics Limited, Bangalore on 29 June 21at Integrated Headquarters, Ministry of Defence (Navy), New Delhi forcreation of a joint Technology Incubation Forum (TIF).

The Technology Incubation Forum reflects the joint vision of Indian Navy and Bharat Electronics Limited towards innovative and creativethinking and fostering development of Emerging Technologies. The broadcharter of the TIF includes technology development in the domain of Weapons & Sensors, Information Technology and Emerging Technologiessuch as Artificial Intelligence & Machine Learning, Quantum Computing,Autonomous Platforms/ Robotics, Image Processing and Cognitive Radio.The TIF will spearhead mission mode development of deployable productsunder the Government’s ‘Atmanirbhar Bharat’ initiative with involvement of Industry, Academia and Start-Ups.

ABBB/VM     

Manufacturing sector needs to be strengthened for employment generation

Posted on by Business So Simple in Entrepreneurship, MSME

Ministry of Micro,Small & Medium Enterprises Press Release dated 29th June 2021

Shri Nitin Gadkari says Manufacturing sector needs to be strengthened for employment generation

Posted Date:- Jun 29, 2021

Minister for MSME and Road Transport and Highways Shri Nitin Gadkari has said that the Manufacturing sector needs to be strenghtened for employment generation and eradicate poverty. Addressing the commerce and industry fraternity of Maharashtra during  the 16th Dr Gadgil Memorial lecture he said we have to make vision for the future in an integrated manner where conversion of knowledge into wealth takes place.

Shri Gadkari said talented young skilled manpower is the strength of the country. He said we need to reduce our imports and increase our exports. The Minister said policies have to be planned for socially and  econimically  backward areas to support entrepreneurs. He said decentralisation of industry is very important for development.

Full event link https://youtu.be/XFxoJYqWGW4

*****

Online licensing for use of Spectrum to conduct Experiments, Demonstrations, etc. now a reality

Posted on by Business So Simple in Entrepreneurship

Ministry of Communication Press release dated 29 June 2021

Online licensing for use of Spectrum to conduct Experiments, Demonstrations, etc. now a reality


Department of Telecommunications expands Saral Sanchar Portal

Applications will be online, no physical interface necessary

Time bound processing: Deemed approval in certain cases

In an important initiative to encourage spectrum based applications and for experiment, demonstration and testing requirements, Department of Telecommunications (DoT), Wireless Planning and Coordination Wing (WPC) today launched the initiative to facilitate online licensing for use of Spectrum to conduct Experiments, Demonstrations, etc.  The scope of existing Saral Sanchar Portal of DoT, on which application for Access Services, Internet Services and other licenses are being received, was expanded for receipt, processing and grant of licenses for spectrum to conduct experiment, demonstration, testing, manufacturing, etc.  With this addition, nearly all the permissions required from the WPC Wing, which include permissions for equipment type approval, satellite licenses, amateur licenses, allocations by Standing Committee of Radio Frequency Allocation, etc. have become online.

Launching these online licenses for experiments, Secretary Telecom, Shri Anshu Prakash expressed hope that this would boost the ecosystem of design and applications in wireless technologies.  The approval process will be faceless, transparent and also time bound.  The said permissions in the form of licenses will include the clearances for possessing wireless equipment, import of necessary modules & subsystems and demonstration of R&D products.  Hence separate permissions for related activities will not be required.  All permissions are now bundled together.

The following are the key features:

(i) Self-declaration (instant issue of licenses) for Indoor  Experimentation (R&D), Indoor Demonstration and  Manufacturing.

(ii) Just One license including all the licensing requirements of the  user – Use of Spectrum, Import of related products and sub- assemblies, demonstration, possession of wireless equipment  etc.

(iii) Deemed approval within 6 to 8 weeks from the date of  application for all outdoor radiating licenses.

(iv) The Spectrum is offered on “Non-interference and non- protection basis” and on “No commercial services”.

These measures would facilitate the Indian companies to strengthen R&D and manufacturing ecosystem and for creating Indian IPRs and Global solutions. This will also promote India as hub of wireless products and applications with potential of enhanced Indian contribution in global technology value chain.

****

SERB-DST partners with Intel India to launch first-of-its-kind initiative to advance deep tech-based research in India

Posted on by Business So Simple in Entrepreneurship

The Indian research community will soon be able to pursue industry-relevant research opportunities in the areas of deep technologies that are novel, transformative, and can have a ground-breaking impact on a national scale.

The opportunities will be offered by the first-of-its-kind research initiative called ‘Fund for Industrial Research Engagement (FIRE)’ launched by the Science and Engineering Research Board (SERB), a statutory body of Department of Science and Technology (DST), Government of India, in collaboration with Intel India on June 29, 2021.

It will increase research opportunities in the space of Artificial Intelligence (AI)/Machine Learning (ML), platform systems, circuits & architecture, Internet of Things (IoT), materials & devices, security, and so on from edge to cloud.

“It is our vision to promote research in the upcoming critical areas of science and engineering with Public-Private Partnerships as elaborated in the draft Science, Technology and Innovation Policy 2021,” said DST Secretary Prof Ashutosh Sharma, speaking at the launch.

SERB-FIRE is a novel initiative to bring together industry and academia on a common platform to exchange ground-breaking ideas and co-promote innovative research. I believe this collaboration will open many new doors for exploration in scientific research, which could make India a key player in technology-based solutions,” he added.

Prof Sandeep Verma, Secretary, SERB, emphasized that SERB-FIRE promises to bring support for strong ideations, especially in futuristic S&T thematic areas, and aims to bring expertise in academia and industry together with a new model of cooperation.

“SERB-Intel collaboration will be an excellent opportunity for the scientists to join hands with Intel and together create a stimulating atmosphere for research in science and engineering. There is a synergy that could be built upon through this programme which would be governed by industry-specific problems,’’ Prof Verma said.

The FIRE program is a joint government and industry initiative with a co-funding mechanism to promote innovative technology solutions and strengthen academic research through collaboration with key research and development (R&D) organizations in India. Having been conceived in collaboration with Intel India, it is also being extended to other industry members, which would increase its impact and reach.

Jitendra Chaddah, Country Manager, Global Supply Chain, Intel India, pointed out that FIRE is a one-of-its-kind collaborative initiative that aims to transform the culture of research in India and strengthen the technology ecosystem. This is a critical program that will lead to impactful research outcomes in key technology areas like AI, ML, cloud, edge, and security at the national and global scale.”

The program intends to select highly impactful research projects in every cycle (typically once or twice a year), which have breakthrough potential at a national or global level. It will support the best researchers in academia with funding, mentoring, and industry connect.

As the next step, the FIRE program will share a Request for Proposal (RFP) and invite the Indian research community to submit research proposals.

Ministry of Science & Technology Press release dated 29 July 2021

SS/RP (DST Media Cell)

Micro food processing Enterprises (PMFME) Scheme

Posted on by Business So Simple in Entrepreneurship, Miscellaneous, MSME

Ministry of Food Processing Industries Press release dated 29th June 2021

Pradhan Mantri Formalisation of Micro food processing Enterprises (PMFME) Scheme under Aatmanirbhar Bharat Abhiyan Completes One Year


Seed Capital worth Rs. 25.25 Cr. disbursed to State Rural Livelihood Mission under the scheme

‘One District One Product’ of 707 districts approved for 35 States/UTs

54 Common Incubation Centres approved in the 17 States/UTsPosted Date:- Jun 29, 2021

The centrally sponsored Pradhan Mantri Formalisation of Micro food processing Enterprises (PMFME) Scheme, launched under the Aatmanirbhar Bharat Abhiyan, to enhance the competitiveness of existing individual micro-enterprises in the unorganized segment of the food processing industry and promote formalization of the sector, marks the completion of its one year.

सूक्ष्म उद्यमों के संबल की कहानी #PMFME योजना कह रही है अपनी ज़ुबानी।

आत्मनिर्भर भारत अभियान के तहत @MOFPI_GOI की महत्वकांक्षी योजना @PMFMEScheme के एक वर्ष पूरे होने पर, योजना से जुड़े सभी लोगों को ढेर सारी बधाई।#OneYearofPMFMEScheme pic.twitter.com/AGCpETnKxp— FOOD PROCESSING MIN (@MOFPI_GOI) June 29, 2021

Launched on 29th June 2020, the PMFME Scheme is currently being implemented in 35 States and Union Territories. The online portal for the application of the PMFME Scheme was made live on 25th January 2021. More than 9000 individual beneficiaries have registered on the portal, out of which more than 3500 applications have been successfully submitted under the scheme.

Milestones achieved under the PMFME Scheme

  1. One District One Product

Under the One District One Product (ODOP) component of the PMFME Scheme, the Ministry of Food Processing Industries approved ODOP for 707 districts for 35 States and UTs, including 137 unique products as per the recommendations received by States/UTs. 

The GIS ODOP digital map of India has been launched to provide details of ODOP products of all the States and UTs. The digital map also has indicators for Tribal, SC, ST, and aspirational districts. It will enable stakeholders to make concerted efforts for its value chain development.

  1. Convergence

Under the PMFME Scheme, the Ministry signed three joint letters with the Ministry of Rural Development, the Ministry of Tribal Affairs, and the Ministry of Housing and Urban Affairs. 

The Ministry of Food Processing Industries has signed six Memorandum of Understanding (MoUs) with the Indian Council of Agricultural Research (ICAR), the National Cooperative Development Corporation (NCDC), the Tribal Cooperative Marketing Development Federation of India (TRIFED), the National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED), National Scheduled Castes Finance and Development Corporation (NSFDC), and Rural Self Employment Training Institutes (RSETI).

An agreement has been signed with the Union Bank of India as the Nodal Bank of the scheme and MoUs with 11 banks as official lending partners for the PMFME Scheme.

  1. Capacity Building and Incubation Centres

Under the Capacity Building component of the PMFME Scheme, the National Institute of Food Technology Entrepreneurship and Management (NIFTEM) and the Indian Institute of Food Processing Technology (IIFPT) have been performing a key role in providing training and research support to selected enterprises/groups/clusters in partnership with the State Level Technical Institutions. The training of 371 Master Trainers has been conducted under the Entrepreneurship Development Programme (EDP) & various food domains.

NIFTEM & IIFPT have prepared training modules on 137 ODOPs which include 175 Presentations, 157 Videos, 166 DPRs, and 177 Course Content/Handbooks. Training of 469 District Level Trainers has been conducted in 18 States/UTs and in progress in other States. 491 District Resource Persons have been appointed across 302 districts. 

Under the scheme, 54 Common Incubation Centres have been approved in the 17 States and UTs like Karnataka, Uttar Pradesh, Rajasthan, J&K, Madhya Pradesh, Tamil Nadu, Telangana, Chhattisgarh, Himachal Pradesh, Kerala, Sikkim, Andaman & Nicobar, Andhra Pradesh, Meghalaya, Mizoram, Odisha, and Uttarakhand. The Ministry of Food Processing Industries in collaboration with the IIFPT has developed an online portal for submission of Common Incubation Centre proposals and an online common incubation centre map for the facilitation of details of incubation centres across the country.

  1. Seed Capital

The component under PMFME for providing seed capital to SHGs is being implemented with the support of the National Rural Livelihood Mission (NRLM) and its network of State Rural Livelihood Mission (SRLMs) operating at the state level. The PMFME Scheme envisages financial support of Rs. 40,000 for working capital and purchase of small tools for each member of SHGs engaged in food processing activities. To date, NRLM has recommended 43,086 SHG members to State Nodal Agencies (SNA) for an amount of Rs. 123.54 Cr. SNA has approved the seed capital of 8040 members and disbursed the amount of Rs. 25.25 Cr. to SRLM.  

  1. Marketing and Branding

Under the scheme, MoUs have been signed with NAFED and TRIFED to take up the marketing and branding support for 10 products each. NAFED has selected products like Pineapple, Millet based products, Coriander, Makhana, Honey, Ragi, Bakery, Isabgol, Turmeric, and Cherry for branding and marketing support. TRIFED has selected products like Honey, Tamarind, Spices, Amla, Pulses/Grains/Millets, Custard Apple, Wild Mushroom, Cashew, Black Rice, and Wild Apple under the scheme.

  1. Institutional Mechanism

All the 35 participating States and UTs have constituted/ identified their respective State Nodal Agencies, State Level Approval Committees, District Level Committees, and State Level Technical Institutions. Moreover, a call centre has been established at NIFTEM to address queries and guide the stakeholders of the Scheme.

  1. Promotion and Publicity of the PMFME Scheme

The Ministry of Food Processing Industries in collaboration with States/UTs and Agricultural Universities is conducting nationwide promotion and publicity of the PMFME Scheme to sensitize the stakeholders via radio, print media, offline workshops, webinars, regional language brochures/booklets, outdoor publicity, and over digital media via website, apps and social media platforms. The PMFME Scheme monthly e-newsletter is being sent to more than 5 lakh stakeholders. The PMFME Podcast series has been launched to interact with Agri-business incubators, industry experts, and startups.  

To commemorate 75 years of India’s Independence, under the Azadi Ka Amrit Mahotsav initiative, the Ministry of Food Processing Industries is conducting 75 Unique One District One Product (ODOP) webinars/offline workshops across the country in collaboration with States/UTs, NIFTEM, and IIFPT. A weekly series of success stories titled “Kahaani Sukshma Udyamon Ki” has been launched to bring 75 stories of existing micro food processing enterprises.  

About the PMFME Scheme

Launched under the Aatmanirbhar Bharat Abhiyan, the Pradhan Mantri Formalisation of Micro food processing Enterprises (PMFME) Scheme is a centrally sponsored scheme that aims to enhance the competitiveness of existing individual micro-enterprises in the unorganized segment of the food processing industry and to promote formalization of the sector and provide support to Farmer Producer Organizations, Self Help Groups, and Producers Cooperatives along their entire value chain. With an outlay of Rs. 10,000 crore over a period of five years from 2020-21 to 2024-25, the scheme envisions to directly assist the 2,00,000 micro food processing units for providing financial, technical, and business support for upgradation of existing micro food processing enterprises.

For more details, visit:

https://pmfme.mofpi.gov.in/pmfme/#/Home-Page 

*****

APS/JKRelease Id :-1731151

Read this release in

Hindi