Production Linked Incentive Scheme for the Food Processing Industry:
The Production Linked Incentive Scheme for the Food Processing Industry (PLISFPI) has shown encouraging results, with cumulative investment exceeding nine thousand crore rupees against a committed investment of around seven thousand crore rupees.
- It was launched by the Ministry of Food Processing Industries.
- It is a major initiative aimed at strengthening India’s food processing sector, promoting Indian brands in global markets, and creating global food manufacturing champions.
- It focuses on increasing value addition in the food processing sector, expanding processing capacity, and generating employment, particularly in rural areas and off-farm sectors.
- Financial Outlay and Time Period: The scheme is being implemented for a period of six years from FY 2021–22 to FY 2026–27.
- Objectives:
- Support Food manufacturing entities with stipulated minimum Sales and willing to make minimum stipulated investment for expansion of processing capacity and Branding abroad to incentivise emergence of strong Indian brands.
- Strengthen select Indian brand of food products for global visibility and wider acceptance in the international markets;
- Increase employment opportunities of off-farm jobs,
- Ensuring remunerative prices of farm produce and higher income to farmers.
- The components of the Scheme are:
- Incentivising manufacturing of four major food product segments Ready to Cook/ Ready to Eat (RTC/RTE) foods, Processed Fruits & Vegetables, Marine Products and Mozzarella Cheese.
- To production of Innovative / Organic products of SMEs
- To support branding and marketing abroad to incentivize emergence of strong Indian brands for in-store Branding, shelf space renting and marketing.
- Under the scheme, a total of 128 companies have been approved, covering 274 units across the country.
