Government approves Production Linked Incentive Scheme for Food Processing Industry
The Union Cabinet has approved a Central Sector Scheme, "Production Linked Incentive Scheme for Food Processing Industry or PLISFPI" so as to support creation of global food manufacturing champions commensurate with country’s natural resource endowment & support Indian brands of food products in global markets with an outlay of Rs. 10900 crore.
The Union Cabinet has approved a Central Sector Scheme, "Production Linked Incentive Scheme for Food Processing Industry or PLISFPI" so as to support creation of global food manufacturing champions commensurate with country’s natural resource endowment & support Indian brands of food products in global markets with an outlay of Rs. 10900 crore.
Objectives of Production Linked Incentive Scheme for Food Processing Industry
The objectives of the scheme are to support food manufacturing entities with stipulated minimum sales & willing to make minimum stipulated investment for expansion of processing capacity & branding abroad to incentivise emergence of strong brands in India;
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To support creation of global food manufacturing champions
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To reinforce select Indian brand of food products for global visibility & wider acceptance in the global markets
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To increase employment opportunities of off-farm jobs
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To ensure remunerative prices of farm produce & higher income to farmers
In addition, implementation of the scheme will facilitate expansion of processing capacity to generate processed food output of Rs 33,494 crore & create employment for almost 2.5 lakh people by 2026-27.
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