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Rice is a significant commercial crop with the highest rate of consumption in India. Revenue in the Rice segment amounted to US$84.43bn in the year 2022. The expected annual growth of the market is 7.16% (CAGR 2022-2027), and expected volume of 164,888.1mkg by 2027 along with a volume growth of 5.2% in 2023.
The statistical data proves that having a business in this segment can be profitable for the businesses but the entrepreneurs hesitate to invest in the same due to lack of awareness about the legalities associated with it, the most important being the set up of Rice Mill Industry . The article discusses the process of setting up a Rice Mill Industry in India to help businessmen start such business without any hassle.
Table of Contents
The following procedure must be followed to set up a Rice Mill Industry in India.
The first and foremost step to set up a Rice Mill Industry in India is to register the company by obtaining a certificate of incorporation from the appropriate authority. There are various business models which can be opted for by the businessman, such as
The selection of the type of company can be based on certain important factors, such as the scope of operation and the capital investment by the business owner.
The MSMEs can be classified into the following types –
The Udhyog Aadhar MSME Registrations offer numerous productive benefits to the rice mill industry owners together with other entrepreneurs as well
Such registrations can be obtained by filing an application with the concerned authority and following the procedure prescribed by the authority.
Another step involved n setting up a rice mill industry in India is to obtain a factory licence as per the provisions of the Factories Act 1948. The applicant must submit the following documents along with the application to obtain a factory license.
Any entrepreneur operating business in an establishment emitting pollutants in the water resources or surroundings is obligated to obtain consent for carrying out such business from the pollution control board as per section 25 of the Water (Prevention and Control of Pollution) Act, 1974, the 2 types of NOC that are required to be obtained by the owner are –
Consent to Establish – This type of NOC is granted by the State Pollution Control Board prior to setting up the rice mill industry
Consent to Operate – This NOC must be obtained after the establishment of the rice mill industry, and the same is required to be renewed per the prescribed timeline. The following documents must be provided along with the application.
Any establishment comprising employees as per the prescribed threshold under various labour laws is mandated to obtain the PFA and ESIC Registration. It must be noted that the following criteria is required to be met in order to become eligible for this registration ie
The business owner must obtain this license in any food business. The applicant must file the application with the appropriate authority, submit documents, and pay the requisite fees.
The essential documents required for obtaining this license are
GST Registration plays a vital role when businessmen want to carry out interstate sales, as GST registration acts as an identification number for the business. The following documents are required for getting the GST Registration
The high demand for rice in India makes the rice business quite lucrative for the businessmen making it important for them to be aware of all the licenses and formalities required to be fulfilled for setting up a rice mill industry in India which can be completed seamlessly with the highly qualified team of Enterslice.
Read Our Article: Different Types of Milling Business in India
Shubhangi has completed her B. A.LLB (H) with specialization in Business Laws from Amity University. She is particularly interested in legal research and writing and wishes to utilize her knowledge to create informative legal content. She has prior experience in corporate and criminal litigation and has great drafting skills. She has also published various research papers in reputed journals.
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