Major Achievements and Initiatives of the Ministry of Food Processing Industries in 2024

The Ministry of Food Processing Industries (MoFPI) achieved remarkable progress in 2024, bolstering India's food processing sector—a critical industry that enhances farmer incomes, generates employment, and minimizes post-harvest losses. Through targeted strategies and impactful initiatives, the Ministry has solidified the sector's contribution to the nation's economic growth.

Key Achievements in 2024

Boost in Processed Food Exports

• The share of processed food exports within agri-food exports rose significantly from 13.7% in 2014-15 to 23.4% in 2023-24.

Employment Growth

• The food processing sector emerged as a leading employer in organized manufacturing, contributing 12.41% of total employment as per the Annual Survey of Industries 2022-23.

PMFME Scheme Success

• Since January 2024, 46,643 loans have been sanctioned under the credit-linked subsidy component of the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Scheme.

Increased Budget Allocation

• The government allocated a ₹3290 crore budget for 2024-25, marking a 30.19% increase from ₹2527.06 crore in 2023-24.

Sectoral Growth

• Gross Value Added (GVA) in food processing rose from ₹1.34 lakh crore (2014-15) to ₹1.92 lakh crore (2022-23).
• Foreign Direct Investment (FDI) inflows reached USD 6.793 billion between April 2014 and March 2024.

Achievements under Key Schemes

1. Pradhan Mantri Kisan Sampada Yojana (PMKSY)

• 143 new projects approved in 2024, with 69 operationalized, adding 14.41 lakh MT of processing capacity.
• Since inception, 1646 projects have been approved, benefiting 51 lakh farmers and creating 7.46 lakh employment opportunities.

2. Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME)

• The first scheme targeting micro enterprises, benefiting 1.14 lakh entrepreneurs with credit-linked subsidies.
• ₹1032.31 crore disbursed as seed capital to 3.10 lakh SHG members.
• 76 incubation centers approved, with 15 operational.

3. Production Linked Incentive Scheme for Food Processing Industries (PLISFPI)

• Investments worth ₹8910 crore have been reported, creating 2.89 lakh jobs.
• Total incentives of ₹1084.01 crore disbursed to 85 beneficiaries.

World Food India 2024

• Dates: September 19-22, 2024
• Venue: Bharat Mandapam, Pragati Maidan, New Delhi
• Scale: Covered 70,000 sq. m with 1557 exhibitors, 20 country pavilions, and 809 buyers from 108 countries.
• Highlights:
  • 18,000 B2B and B2G meetings.
  • Launch of QR-coded displays for 1100 pickle varieties and 750+ ODOP products.

Farmer and Enterprise Impact

• Post-harvest Loss Reduction: Cold chain projects have cut losses by 70% in fisheries and 85% in dairy products.
• Improved farm gate prices through PMKSY and PMFME initiatives.

The Ministry's sustained focus on innovation, sustainability, and inclusivity has positioned the food processing sector as a key driver of India's economic growth and rural empowerment. MoFPI remains committed to furthering this progress for a prosperous and sustainable future.