Government Initiatives for Food Tech Companies in India

The Indian government has been taking various initiatives to support and promote the growth of the food tech sector in the country. These initiatives are aimed at fostering innovation, improving infrastructure, and creating a conducive environment for the development of food tech companies.

Startup India: The Startup India initiative, launched by the government, provides a platform for nurturing and promoting startups across various sectors, including food tech. It offers benefits such as tax exemptions, funding support, and easier compliance procedures to encourage entrepreneurship and innovation.

Make in India: The Make in India campaign focuses on promoting domestic manufacturing and production. Food tech companies can benefit from this initiative, which aims to enhance the ease of doing business and attract investment in the manufacturing sector.

Digital India: The Digital India program aims to transform India into a digitally empowered society. It provides support for the digitisation of various sectors, including food and agriculture. This can benefit food tech companies by creating a digital infrastructure and facilitating online transactions.

National Innovation Foundation (NIF): NIF supports grassroots innovations and traditional knowledge. Food tech companies involved in innovative solutions can explore support from NIF for research and development initiatives.

Pradhan Mantri Kisan SAMPADA Yojana: This scheme focuses on the development of the food processing sector in India. It aims to reduce postharvest losses and enhance value addition in the agricultural and food processing industry, providing opportunities for food tech companies to collaborate and contribute to this sector.

Agri-export Policy: The government has introduced policies to boost agricultural exports, which can indirectly benefit food tech companies involved in processing and value addition. Increased exports can lead to higher demand for processed and packaged food products.

Ease of Doing Business Reforms: The government has been consistently working on improving the ease of doing business in India. Streamlining regulations and reducing bureaucratic hurdles can positively impact the growth and operations of food tech companies.