Production Linked Incentive Scheme for the Food Processing Industry

Production Linked Incentive Scheme for the Food Processing Industry Latest News

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.  

About Production Linked Incentive Scheme for the Food Processing Industry

• 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 with a total financial outlay of ₹10,900 crore.
• The components of the Scheme are 
  • Incentivising manufacturing of four major food product segments viz. 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.

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Objectives of Production Linked Incentive Scheme for the Food Processing Industry

• 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.:
• Support creation of global food manufacturing champions;
• 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.

Source: PIB