FarMart appoints Rohit Pajni, to head global processed foods business
The PMFME scheme is catalysing this transformation, providing essential support to micro-food processing enterprises through training, capacity-building, seed capital, and credit linkages
In a monumental boost for India’s burgeoning organic food sector, the PM Formalisation of Micro Food Processing Enterprises (PMFME) scheme, orchestrated by the Director of Industries, MSME Department, Government of Odisha in collaboration with Palladium as the State Project Management Unit, is redefining the landscape of micro food processing.
With the global organic food market poised to reach $546.97 billion by 2032, and India emerging as the fastest-growing market at a projected annual growth rate of 20 per cent, small businesses are at the forefront of this vibrant industry. The PMFME scheme is catalysing this transformation, providing essential support to micro-food processing enterprises through training, capacity-building, seed capital, and credit linkages.
To date, the scheme has significantly impacted over 1500 enterprises, turning them into thriving examples of success. Among these success stories is Chocolaca, an organic chocolate and millet-based snacks brand based in Bhubaneswar. Founded in 2021 by visionary sisters Shanta and Rita, Chocolaca specialises in Beans-to-Bar chocolate using exclusively organic ingredients. Despite early challenges, including limited machinery and marketing reach, the PMFME scheme helped them secure a loan of INR 15 lakh. This financial support, combined with Palladium’s expertise in strategic planning and facilitating credit-linked financial assistance helped the sisters in acquiring advanced machinery. This led to an increase in their annual turnover from INR 4.97 lakh in FY 2021-22 to an impressive INR 40 lakh till March 2024. Today, Chocolaca proudly holds all mandatory licenses like FSSAI (Food Safety and Standards Authority of India), APEDA (Agricultural and Processed Food Products Export Development Authority), ZED (Zero Defect Zero Effect), and UDYAM (Udyog Aadhaar Memorandum).