New Delhi, April 21 (SocialNews.XYZ) The Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) has driven capacity expansion in food processing, job creation, and export growth, with beneficiaries receiving a total incentive of Rs 2,162.55 crore, the government said on Tuesday.
Food processing and preservation capacity has grown by 34 lakh MT per annum, the official statement said, highlighting the scheme’s impact.
A total of 165 applications have been approved, corresponding to 274 project locations, and the scheme has mobilised investments of Rs. 9,207 crore and created about 3.39 lakh direct and indirect jobs, outperforming the employment target of 2.5 lakh.
The scheme has also supported MSMEs, with 69 of the 165 approved applicants being MSMEs. Additionally, 40 contract manufacturing units associated with the main approved applicants fall within the MSME category, indicating their integration across the value chain.
Incentives of Rs 13.26 crore were disbursed to 20 eligible MSMEs, the statement noted.
With an outlay of Rs 10,900 crore, PLISFPI is being implemented from 2021-22 to 2026-27 and seeks to generate processed food output of Rs 33,494 crore.
India’s food processing sector has witnessed steady growth in recent years, with Gross Value Added (GVA) increasing from Rs 1.34 lakh crore in 2014-15 to Rs 2.24 lakh crore in 2023-24 as per the first revised estimates.
Its rising global footprint is reflected in the share of processed food exports in agricultural exports, which grew from 13.7 per cent in 2014-15 to 20.4 per cent in 2024-25.
From savings under PLISFPI, a new component — the Production Linked Incentive Scheme for Millet-Based Products — was carved out in FY23 with an outlay of Rs 800 crore to encourage millets in ready-to-cook and ready-to-eat products.
The Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) is designed to promote manufacturing, encourage innovation among SMEs, and support the global branding of Indian food products.
Source: IANS
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