New Delhi: In a significant move to revamp Fair Price Shops (FPSs) across India and align them with the vision of a skilled, developed, and digital India, the Department of Food and Public Distribution has inked two Memorandums of Understanding (MoUs) with the Ministry of Skill Development and Entrepreneurship (MSDE) and the Small Industries Development Bank of India (SIDBI).
The first MoU, signed between the Department of Food & Public Distribution (DoF&PD) and the National Institute for Entrepreneurship and Small Business Development (NIESBUD) under the Ministry of Skill Development and Entrepreneurship (MSDE), aims to address skill development challenges encountered by FPS dealers. This partnership will focus on enhancing digital literacy, financial literacy, and entrepreneurial skills among FPS owners to adapt to market changes and explore new business avenues.
Speaking at the signing ceremony, Shri Sanjeev Chopra, Secretary of the Department of Food & Public Distribution, emphasized the importance of enhancing entrepreneurial capabilities among FPS owners to expand services, improve customer satisfaction, and seek additional sources of income. He highlighted the significance of digital and entrepreneurial skills in leveraging technology, streamlining operations, and enhancing customer-oriented practices.
The second MoU, signed between DoF&PD and SIDBI, aims to provide working capital assistance to FPSs through SIDBI’s GST Sahay application. This initiative will enable FPSs to operate on a credit model for selling non-PDS commodities, addressing the challenge of lack of credit for working capital hindering FPS dealers’ ability to stock and sell non-PDS commodities.
Shri Prakash Kumar, Deputy Managing Director of SIDBI, underscored SIDBI’s commitment to promoting entrepreneurship and supporting micro and small businesses. He highlighted SIDBI’s use of digital technology and the Digital Public Infrastructure (DPI) of the country to create a customized credit program for FPSs.
These MoUs mark a breakthrough in capacity building and investment opportunities for FPSs in the country, aiming to enhance the employability and livelihoods of FPS dealers. The Department of Food and Public Distribution continues to focus on strengthening food security in the country through various initiatives, including the pilot project to onboard FPSs on the Open Network Digital Commerce (ONDC), providing numerous benefits for FPS dealers and beneficiaries alike.
