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Production Linked Incentive Scheme For Food Processing Industry (PLISFPI)

Production Linked Incentive Scheme For Food Processing Industry (PLISFPI):

The Union Cabinet has approved the Central Sector Scheme – “Production Linked Incentive Scheme for Food Processing Industry (PLISFPI)” entailing an outlay of Rs. 10,900 crore.

PLI Scheme:

  • In order to boost domestic manufacturing and cut down on import bills, the central government in March 2020 introduced a PLI scheme that aims to give companies incentives on incremental sales from products manufactured in domestic units.
  • Apart from inviting foreign companies to set shop in India, the scheme also aims to encourage local companies to set up or expand existing manufacturing units.
  • PLI Scheme has also been approved for sectors such as automobiles, pharmaceuticals, IT hardware including laptops, mobile phones & telecom equipment, white goods, chemical cells and textiles, etc.

Objectives of the PLISFPI:

  • To support the creation of global food manufacturing champions.
  • To strengthen select Indian brands of food products for global visibility and wider acceptance in the international markets.
  • To increase employment opportunities of off-farm jobs.
  • To ensure remunerative prices of farm produce and higher income to farmers.