The Union Government today (31 March) approved a production-linked incentive (PLI) scheme for the food processing sector, entailing an outlay of Rs 10,900 crore.
The scheme aims to support creation of global food manufacturing champions, promote Indian brands of food products in the international markets, enhance employment opportunities of off-farm jobs and ensure remunerative prices of farm produce and higher income to farmers.
The first component of the scheme will incentivise manufacturing of four major food product segments viz. Ready to Cook/Ready to Eat (RTC/RTE) foods, Processed Fruits & Vegetables, Marine Products, Mozzarella Cheese. The selected firms will be required to undertake investment in Plant & Machinery in the first two years i.e. in 2021-22 & 2022-23.
The second component relates to support for branding and marketing abroad to incentivise emergence of strong Indian brands. For promotion of Indian Brand abroad, the scheme will grant to selected entities for in store branding, shelf space renting and marketing.
PLI Scheme will be implemented over a six year period from 2021-22 to 2026-27.
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