PLI Scheme for Food Processing Industry: Key Facts
The Union Cabinet has approved a production-linked incentive scheme for the food processing industry with an outlay of Rs 10,900 crore.
- The scheme was announced by the Minister for Consumer Affairs, Food and Public Distribution, Piyush Goyal.
- The scheme is a fitting tribute to farmers and it will be helpful in generating employment for 2.5 lakh people.
- The scheme would also lead to additional exports of Rs 30,000 crore to Rs 35,000 crore.
- The aim of the scheme is to strengthen select Indian brand of food products for global visibility, support the creation of global food manufacturing champions, increase employment opportunities of off-farm jobs, ensuring remunerative prices of farm produce and higher income to farmers and wider acceptance in the international markets.
- The scheme would cover ready-to-eat, ready-to-cook, marine products, processed fruits and vegetables, and mozzarella cheese.
- Organic products, poultry meat, egg products, and free-range eggs were also covered.
- The implementation of the PLI scheme will be helpful in the expansion of processing capacity for generating processed food output of Rs 33,494 crore.
- It will also create employment for nearly 2.5 lakh persons by the year 2026-27.
The selected applicants for the scheme will have to invest in plant and machinery in the first two years – 2021-2022 and 2022-2023.