These few months have been quite a nightmarish time for manufacturing Industry & Economy as a whole . Our food & food processing industry also shared quite some sleepless nights wondering about the future , but as luck would have it they say that ‘Every Cloud Has A Silver Lining’ and silver lining it was for the food processing industry... after a series of msme packages offered by the Indian Government including credit guarantee bank funding Schemes . A few other benefits namely......
1. Launch of 59-minute loan portal to enable easy access to credit for MSMEs. In-principle approval of loans up to Rs. 1 crore through the portal. Portal link through GST portal.
2. subvention interest @ 2% for all GST registered MSMEs, on incremental credit. 3. Increase in interest rebate from 3% to 5% for exporters who receive loans in the pre-shipment and post-shipment period.
4. Now Food processing industry can avail 35 % subsidy up to Rs. 5.00 Crore as subsidy from Central Govt. 5. The pattern of assistance is planned to be 35% of the total project costing general areas or 50% of total project cost if the project is situated in the northeast areas, Himalayan states, Islands and other notified areas. The amount of assistance will be subject to a maximum of Rs. 5.00 Crore.
Boy o Boy with these type of business boosters and Indian businesses looking towards food industry as a weather proof option in these turbulent times sky is the limit.
We at Qtronic Equipments one of the leading manufactures of food processing and food related machines are itself receiving more than 20 new queries a day for these type of plants.
So Ladies and gentlemen, boys and girls.... it is time to earn some big Mullah....