In a bid to technologically upgrade/set up/modernize or expand the food processing industries the central government provides various range of subsidies under the Food Processing Technology Up-gradation Fund Scheme (FPTUFS). However, the government decentralized the scheme in 2007 and made SIDBI (Small Industries Development Bank of India) as one of the Nodal Agencies to implement the said scheme.
Objectives and Scope:
- The scheme aims to upgrade the processing capabilities of the industries
- The scheme provides financial assistance to food processing industries in order to modernize/upgrade them
- Fruits and vegetables, milk products, meat, poultry, fishery, cereal /other consumer food products, oilseed products and other agricultural and horticultural sectors including food flavours, colours are covered under the Scheme
Food processing industries are entitled to the amount of the cost of plant & machinery and other technical/civil works.
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