VC Fund for SCs Empowers Onion Value Chain: Khemnand Dairy & Agri Producer Company
UPSC / SSC current affairs note · Economy
Why in news
The Ministry of Social Justice and Empowerment highlighted the transformative impact of the Venture Capital Fund for Scheduled Castes (VCF-SC) in strengthening India's onion value chain. The Khemnand Dairy and Agri Producer Company in Ahilyanagar, Maharashtra, received ₹12 crore in 2023, enabling it to expand post-harvest infrastructure and market linkages, benefiting thousands of farmers.
Background
The Venture Capital Fund for Scheduled Castes (VCF-SC) is a scheme under the Ministry of Social Justice and Empowerment to promote entrepreneurship among Scheduled Castes by providing financial assistance. The Khemnand company established an integrated onion value chain project under PMKSY-Operation Greens in five locations in Maharashtra, with support from the Ministry of Food Processing Industries.
Key facts
Khemnand Dairy and Agri Producer Company Ltd is located in Ahilyanagar, Maharashtra.
The company established an integrated onion value chain project under PMKSY-Operation Greens in five locations.
The project includes procurement, grading, sorting, packaging, cold storage, and a dehydration plant.
VCF-SC provided ₹12 crore in 2023 as venture capital assistance, including equity and optionally convertible debentures.
The farmer network expanded to approximately 8,000 farmers.
The company achieved annual revenue of ₹25.51 crore and total assets of ₹30 crore.
The project improved grading, handling, and storage facilities, reducing post-harvest losses.
Strong market linkages with institutional buyers and organized retail companies were established.
Prelims pointers
- VCF-SC: Venture Capital Fund for Scheduled Castes, under Ministry of Social Justice and Empowerment.
- PMKSY-Operation Greens: Scheme under Ministry of Food Processing Industries for integrated value chain development of agri-horticultural produce.
- Ahilyanagar: District in Maharashtra (formerly Ahmednagar).
- Financial assistance: ₹12 crore in 2023.
- Company: Khemnand Dairy and Agri Producer Company Ltd.
Mains angles
- Discuss the role of venture capital funds in promoting entrepreneurship among marginalized communities.
- Examine the impact of post-harvest infrastructure on reducing agricultural losses and improving farmer incomes.
- Critically analyze the effectiveness of schemes like PMKSY-Operation Greens in strengthening agricultural value chains.