बिज़नेस
Karnataka Finance Department Announces Export Subsidies and Tax Exemptions for Millet-Based Food Products
The state's Finance Department has introduced special export subsidies and tax exemptions for small-scale industries that manufacture and export ready-to-eat food products made from millets.
The Karnataka Finance Department has announced new financial incentives aimed at boosting the millet industry. The initiative specifically targets small-scale industries within the state that produce ready-to-eat food items using millets, also known as cereals or 'siridhanya'.
Under this new policy, eligible small-scale manufacturers will receive a special export subsidy. Additionally, the department has granted tax exemptions to these units to encourage the global marketing of millet-based products.
The move is designed to provide direct support to entrepreneurs in the millet sector, facilitating the growth of the industry by reducing financial barriers associated with international trade. By focusing on ready-to-eat preparations, the state aims to enhance the value addition of local agricultural produce.
This announcement underscores the government's commitment to promoting the consumption and commercial viability of traditional grains, helping local businesses compete in the export market.
Under this new policy, eligible small-scale manufacturers will receive a special export subsidy. Additionally, the department has granted tax exemptions to these units to encourage the global marketing of millet-based products.
The move is designed to provide direct support to entrepreneurs in the millet sector, facilitating the growth of the industry by reducing financial barriers associated with international trade. By focusing on ready-to-eat preparations, the state aims to enhance the value addition of local agricultural produce.
This announcement underscores the government's commitment to promoting the consumption and commercial viability of traditional grains, helping local businesses compete in the export market.