The State Level Inauguration of the Seed Capital Financial Assistance Scheme was held. Shri. P. Rajeev, Minister for Industries, Law and Coir, Government of Kerala inaugurated the function at Hotel Avenue Regent, Ernakulam on 18 October 2021. The Seed Capital Financial Assistance is given as part of the PMFME (PM Formalization of Micro Food Processing Enterprises Scheme-Project for forming food processing enterprises) for extending support to the enterprises functioning in the food processing sector.
The project is formulated by the Ministry of Food Processing Industries, Government of India and is being implemented in Kerala through the Industries Department, Government of Kerala. Approval was received to give Rs 4,30,51,096 to 1440 Kudumbashree entrepreneurs from 14 districts across the state. Ms. S. Renjini, District Mission Coordinator, Kudumbashree Ernakulam District Mission and Kudumbashree entrepreneurs jointly received the amount from the Minister during the function.
The financial assistance is given as interest free loans to the entrepreneurs through the respective CDSs. As per the project, the individual-group enterprises in the food processing sector would get assistance for 4 main factors such as Seed Fund, Credit Linked Capital Grant, Public Basic Amenities, Branding-Marketing.
Shri. M.G Rajamanickam IAS, MD, KSIDC welcomed the gathering. Dr. K Ellangovan IAS, Principal Secretary, Industries Department, Government of Kerala delivered the presidential address. Shri. Biju P. Abraham, General Manager, Ernakulam District Industries Centre extended vote of thanks. After the Inaugural function, classes were given to the entrepreneurs on value addition.