Inflation is common these days. The price of each necessary element increases. Everyday products such as tomato, ginger and lemon have seen their prices skyrocket recently. Onion prices have also increased and are now at 40 rupees per kilogram. Onion and its paste are commonly used in Indian dishes. Indian cuisine is not complete without onions. Due to the high price of onion, its paste is often preferred. So why not start an onion paste business?
For the production of onion paste factories, simple technology should be used to create a unit. The Khadi Village Industries Commission has prepared a report outlining the profile of the Gramodyog Rojgar Yojana project. This KVIC report stated that Rs 4.19 lakh could be used to develop an onion paste business. You will need 300 to 500 square yards to set up this business, with an investment of up to one lakh rupees to build a shed. The shed will help to set up a factory and produce onion paste.
To produce the paste, buying a frying pan, steamer autoclave, diesel oven, sterilization tank, small kitchen utensils, cups and other items can cost around Rs 1.75 lakh. Also, you need Rs 2.75 lakh to service this company. This will be used for things such as purchasing raw materials, packaging, transportation, and workers’ salaries.
Please note that all figures listed may vary by state and may include taxes.
You can also take a loan from Pradhan Mantri Mudra Yojana. Pradhan Mantri MUDRA Yojana (PMMY) offers loans to small and micro businesses that are neither farms nor corporations up to Rs 10 lakh. According to PMMY, these loans are classified as Mudra loans. Commercial banks, RRBs, small finance banks, MFIs and NBFCs offer these loans.
The borrower can contact any of the above mentioned lending organizations or apply online at www.udyamimitra.in. Three products, Shishu, Kishore and Tarun, have been developed to determine the degree of development and financial requirements of a micro-unit recipient or entrepreneur. This will serve as a benchmark for your next stage of graduation or growth.
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