Food Processing sector gets Rs.10,900cr PLI scheme
The Government has recently launched Rs.20,900 crore incentive and initiative schemes to increase private sector investment for overall development of Food Processing sector of the country and promote value addition in agricultural and allied sector as well as reduce wastage, Minister of State for Food Processing Industries Prahlad Singh Patel said in Rajya Sabha on 23 July 2021.
First, the Government has approved the introduction of “Production Linked Incentive scheme” for Food Processing sector with an outlay of Rs.10,900 crore to support creation of global food manufacturing champions and support Indian brands of food products in international market.
Secondly, with a view to extend incentives to the private micro food enterprises, Self Help Groups (SHGs), Farmer Producer Organizations (FPOs) and Cooperatives, spread all over the country, Ministry of Food Processing Industries (MoFPI) is implementing centrally sponsored “PM Formalisation of Micro Food Processing Enterprises Scheme”. The scheme aims to provide financial, technical and business support for upgradation and setting up of two lakh micro food processing units based on One District One Product (ODOP) approach in a period of five years from 2020-21 to 2024-25 with an outlay of Rs.10,000 crores.
Thirdly, in the 2021-2022 budget, the Government has announced expansion of scope of “Operation Greens scheme” from Tomato, Onion & Potato (TOP) to 22 perishable products, so as to boost value addition in agriculture and allied products and their exports.
So far, 792 projects out of a total of 818 projects have been approved for setting up food processing Industries by the private sector with approved Grants in Aid of Rs.5,792 crores, he said in a written reply to the Rajya Sabha. #investment #agriculture #manufacturing /fiinews.com
