Do we get any government subsidy when we start packing business?
Yes, there are a few government subsidies available for starting a packing business in India. Some of these subsidies include:
- Credit Linked Capital Subsidy Scheme (CLCSS) for Technology Upgradation of Small Scale Industries (https://clcss.dcmsme.gov.in/) by the Ministry of Micro, Small and Medium Enterprises (MSME):
- This scheme provides capital subsidy to MSMEs for the purchase of new plant and machinery, including packaging machinery. The subsidy amount is up to 35% of the cost of the plant and machinery, and is higher for certain categories of MSMEs, such as women entrepreneurs and those located in backward areas.
- New Plant upto 35%
- Scheme of Cold Chain, Value Addition and Preservation Infrastructure (https://www.mofpi.gov.in/Schemes/cold-chain) by the Ministry of Food Processing Industries: This scheme provides financial assistance to set up cold chain and preservation infrastructure, including pack houses. The subsidy amount is up to 50% of the cost of the infrastructure, and is higher for certain categories of beneficiaries, such as those located in backward areas.
- 50% of infrastructure cost
- Assistance to registered exporters of fresh fruits & vegetables, flowers and eggs (https://www.mofpi.gov.in/sites/default/files/Guidelines_Agriculture_Export_Promotion_Plan_Scheme.pdf) by the Agricultural and Processed Food Products Export Development Authority (APEDA): This scheme provides financial assistance to exporters for the purchase of packaging material. The subsidy amount is up to 25% of the cost of the packaging material, subject to a ceiling of Rs. 5 lakh per beneficiary per annum.
- 25% upto max of Rs 5
To be eligible for these subsidies, you must meet certain criteria, such as being a registered MSME or exporter. You must also submit a detailed proposal to the relevant government agency.
In addition to these specific subsidies, there are also a number of general government schemes that can help new businesses, such as the Pradhan Mantri Mudra Yojana (PMMY) and the Startup India initiative. These schemes can provide loans and other financial assistance to help you start and grow your business.
I recommend that you contact the relevant government agency for more information on the specific subsidies that are available to you. You can also find information on government schemes for businesses on the websites of the Ministry of MSME and the Ministry of Food Processing Industries.