The Cabinet Committee on Economic Affairs has approved the revised cost estimates from Rs.244.60 crore to Rs.479.91 crore with a foreign exchange component of US $ 8.1 million for setting up of the National Institute of Food Technology, Entrepreneurship and Management (NIFTEM) at Kundli, Haryana.
NIFTEM will be a global centre of excellence integrating all facets of food science, technology, entrepreneurship, research and management and will be recognized as the focal point for catalyzing the growth of the food processing industries in India in the global context. The Institute will cater to the needs of various stakeholders such as entrepreneurs, industry, exporters, policy makers, the government and existing institutions. It will develop world-class managerial talent and entrepreneurship with advanced know-how in food science and technology, increase the importance of food hygiene and safety standards, facilitate business incubation services, collect and disseminate information on national and international market trends for food products.
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