Cabinet approves production linked incentive scheme for food processing industry
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In a big relief to food manufacturing entities, the Union Cabinet has approved the Central Sector Scheme - ‘Production Linked Incentive Scheme for Food Processing Industry (PLISFPI)’ to support creation of global food manufacturing champions commensurate with India's natural resource endowment and support Indian brands of food products in the international markets with an outlay of Rs 10900 crore.
The objectives of the scheme are to 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.
The implementation of the scheme would facilitate expansion of processing capacity to generate processed food output of Rs 33,494 crore and create employment for nearly 2.5 lakh persons by the year 2026-27.
