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June 25, 2020

Indian government to set up dairy and meat development fund

The government of India has launched a INR150bn (US$1.98bn) agricultural infrastructure fund in an attempt to boost the country's dairy and meat sector.

By Leonie Barrie

The government of India has launched a INR150bn (US$1.98bn) agricultural infrastructure fund in an attempt to boost the country’s dairy and meat sector.

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It is hoping to incentivise private companies to get involved in developing projects for the sector by offering them loans.

Emphasising the importance of the sector to economic growth in the country, the Animal Husbandry Infrastructure Development Fund (AHIDF) has been approved at the highest level, by the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi.

The government said that while it has been backing various schemes to develop dairy infrastructure from the dairy cooperative sector, it has realised that private companies “also need to be promoted and incentivised for their involvement in processing and value addition infrastructure”.

It added: “AHIDF would facilitate much needed incentivisation of investments in establishment of such infrastructure for dairy and meat processing and value addition infrastructure and establishment of animal feed plant in the private sector.”

It said that eligible beneficiaries under the scheme would include farmer-producer organisations, private companies and individual entrepreneurs.

They would need to put 10% into approved schemes with the remaining 90% coming by way of a loan through “scheduled banks”.

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Innovation Update Q2 2022: Meat and Meat Alternatives

Meat alternatives continue to push boundaries, as companies explore 3D printed, plant-based, and precision fermentation-based alternatives. As a result, shoppers are more open to experimental formulations that introduce new flavors to meat products, blur traditional food categories, or swap in new ingredient types. It is vital for their development that retailers acknowledge this range of emerging trends during these increasingly uncertain times. Brands must continue to understand how consumer needs and desires change, and offer a range of products that reflect the world around them, therefore developing purchasing and consumption decisions. Exciting non-traditional formulations are hitting the market - following the trajectories and target audiences of these launches will help other brands find their niche. Consult our report on Meat and Meat Alternatives, from the collection of >17,000 reports on GlobalData Explorer, to:  
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  • Assess strategies implemented by companies to better penetrate the market
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  • Marketing / Advertising strategies being used by these players for specific products
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