Unlock India’s food processing potential
Smart financing alternatives such as peer-to-peer (P2P) lending hold potential for micro-food processors as can be observed by the United Kingdom Government-owned British Business Bank (akin to India’s MUDRA Bank, or Micro Units Development and Refinance Agency Bank) which has helped more than 1,18,000 small businesses get access to more than U.S.$17.88 billion (https://bit.ly/3Aziz4T). Access to working capital has in theory been addressed by the Trade Receivables Discounting System (TReDS), a platform for facilitating the financing/discounting of trade receivables of MSMEs through multiple financiers.
However, the platform requires considerable scaling-up and simultaneous enforcement of stringent measures for corporates to comply with. Integrating the TReDS platform with the Goods and Service Tax Network’s e-invoicing portal will make TReDS more attractive and give relief to financiers.
A sustainable food ecosystem
With growing populations, changing food habits and unrestricted use of natural resources, nations must come together and lay out a road map for a common efficient food value chain. New alternatives are being explored which have immense potential in replacing the staples of rice and wheat in the form of Nutri-cereals, plant-based proteins, fermented foods, health bars and even fresh fortified foods for pets. By welcoming the new brands in the category, PLIS aims to create an enabling ecosystem for innovation in both food products and processes. Post the 1929 Great Depression, hemlines of a skirt were indexed to predict the financial state. Almost a century later, luminosity and night lights data obtained from satellites indicate the extent of economic progress. No wonder, 50 years hence, the progress of nations will be benchmarked to their ability to sustainably feed their populations.
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