J&K launches Rs 879 cr Food Processing Project

Jammu, Jan 22 (SocialNews.XYZ) 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.

Source: IANS