PLI Scheme for food processing formulated with Rs 10,900 cr outlay, says Centre
- IBEF
- February 14, 2022
Minister of State for Food Processing Industries and Jal Shakti Mr. Prahlad Singh Patel mentioned that the Ministry of Food Processing Industries has established the Production Linked Incentive (PLI) programme for the food processing industry with an outlay of Rs. 10,900 crore (US$ 1.44 billion). The initiative aims to improve India's industrial capabilities while also increasing exports.
The scheme is divided into three parts:
- The first component focuses on encouraging the production of four important food product segments: millet-based foods, processed fruits and vegetables, marine products, and mozzarella cheese.
- The second component is designed to encourage SMEs to develop innovative/organic products in all four food product groups mentioned above, including free-range eggs, chicken meat, and egg products.
- The third component is help for branding and marketing in foreign markets to encourage the development of strong Indian brands.
The scheme instructions were published on May 2, 2021, and the EoI for inviting applications under the scheme was published on May 2, 2021, with the application window closing on June 24, 2021. A total of 60 applications were chosen from Category I, 12 applicants from Category II, and 71 applicants from Category III.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
