If planning to set up a cold storage business in India, this blog will help you know about the prerequisites. This is a capital-intensive investment and will require an amount ranging from 4 crores and can go as high as 35 crores. Cold storage businesses are important and very much required for the preservation of foodstuffs, which have relatively low shelf-life. Inside the cold storage, the temperature is maintained quite low, which helps in the prevention of any contamination, that can be caused possibly by the microbes in the environment. It’s a great responsibility to handle cold storage, yet very profitable.
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What Other Users Does Cold Storage Serve?
Cold storage units are used for extending the shelf life of the foodstuffs, mainly used to preserve fruits and vegetables. The benefit of using cold storage is that, even after months, the stuff remains healthy to eat. Thus, wherever there are manufacturing, consuming centers, the cold storages tend to flourish in those areas. Nowadays, there are so many fast foods, canned foods, and dairy products that can be easily stored up into these and made available to access even after several days or months. Thus, cold storages help in preventing the loss of food as well.
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Why is There Need for Cold Storage Business?
The main advantage of cold storage can be offered and attained by the farmers. It is so as they get a storage issue for their produce. It is really very good for them to dispatch their produce at the right time. It often happens with them that the time they bring their produce from the farm but the time they take it to the market, the quality degrades. This not only is a great loss to the farmers, but also a loss to food produce, time invested, and efforts.
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The setup of cold storage helps farmers to preserve the food products for a long time, and hence don’t have to face losses. The investment in cold storage is high and involves the following such as acquiring land, building infrastructures, arranging utilities, permission grants, and many more.
Is Cold Storage Profitable Business in India?
Owing to the fact that the food losses are huge in the country, we should not forget that this occurs due to the negligence of food safety. This can be assured with the help of cold storage across the manufacturing units. Thus, the cold storage setup requires good investment in the beginning but will be profitable in giving out the returns.
All the people who are willing to start a cold storage business can take the help of government subsidies for cold storage.
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Government Subsidies for Cold Storage in India
In India, subsidies are provided to entrepreneurs through the National Horticulture Board of India. For setting up a multi-commodity storage unit, around 10,000 tonnes of the capacity unit is required, for which the grants can be accessed by the subsidies with a payback period of 7 years maximum. Amount of Rs. 20 crores can be benefitted from the government-initiated subsidies.
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Collaboration / Proprietary firms, businesses, corporate entities, co-ops, self-help groups (SHG), farmer producer organizations (FPO), non-governmental organizations (NGOs), state and central PSUs, etc. are eligible to participate in the incorporated post-harvest cold chain venture.
Besides this, the government provides financial assistance to the people and also provides grant-in-aid to the entrepreneurs. The provision of 35 to 50% of the total cost of machinery installation and equipment is provided by the government. Cold storage can be set up taking the help of government loans which can be granted up to 80%, and if the land is rented, you may get an extra 10%, making it a total of 90% of loan help.
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