AP attracted Rs 4000 cr investment in food processing sectorAP attracted Rs

first_img COMMENT November 30, 2018 food processing industry SHARE SHARE SHARE EMAIL Andhra Pradesh has made rapid strides in the food processing sector during the past two years or so, attracting an investment of more than Rs 4,000 crore in 200 new units, according to Potluri Bhaskara Rao, President of Andhra Pradesh Food Processing Industries Federation.He was speaking here on Friday at a workshop for entrepreneurs in the food processing sector organised by Agri Products Export Development Authority, SBI and other nodal agencies. He said one lakh new jobs had been generated in the sector, and “12-13 food parks are coming up in the State, each with 10-15 units”. He complimented the State Government for formulating suitable policies and making a separate budgetary allocation of Rs 300 crore for the sector. “This is the opportune time for investing in the sector, as both the State and Centre are supporting it and the banks are ready to give collateral-free loans up to Rs 1 crore,” he said.A Ramlingeswara Raju, general manager of the District Industries Centre, Visakhapatnam, said the State Government had announced its intention to set up a MSME (micro, small, medium enterprise) park in each of the 175 Assembly constituencies. “So far 31 MSME parks have been established in the State, including two in Vizag district, one at Gurrampalem and the other at Rachapalli, and entrepreneurs in food processing sector can apply and obtain land for their units in these parks,” he said and added that clearances were being through a single window system within 21 days.AP stood first in ease of doing business in the country, Raju said.Sudhakar Peluri, Assistant General Manager, SBI, said MSMEs in the food processing sector as well as other sectors could now obtain sanction for collateral-free loans up to Rs 1 crore online through public sector banks, providing the requisite information, within 59 minutes. “Prime Minister launched the programme on November 2, for the benefit of MSMEs and they should make full use of it,” he said and then explained the process of obtaining the online sanction through the e-portal – www. psbloans in 59 minutes.com.He also spoke about the contact-less lending platform for MSMEs launched by the PM. Dharma Rao, representing the Agri Products Development Authority, explained the various schemes for setting up agri processing units. Alok Dwivedi, Deputy Director-General of Foreign Trade, said MSMEs should also focus on exports and foreign trade and not confine themselves to domestic markets.K. Srinivasulu, an expert from the Central Food Technology Research Institute (CFTRI), spoke about the potential for setting up units in various segments of the sector. Andhra Pradesh Published on COMMENTSlast_img

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