The Ministry of Food Processing Industries has reported that the Production Linked Incentive (PLI) Scheme for the Food Processing Industry (FPI) has been a game-changing initiative, creating over 2.89 lakh job opportunities and attracting investments worth Rs 8,910 crore across 213 locations as of October.
The scheme has been particularly beneficial for micro, small, and medium enterprises (MSMEs), with 70 MSMEs directly enrolled and 40 others serving as contract manufacturers for larger companies. This has not only boosted the growth of SMEs but also fostered innovation, increased competitiveness, expanded market reach, and supported the overall food processing value chain.
The PLI scheme has also extended its support to large companies, millet-based products, organic and innovative offerings, and SMEs, while promoting Indian brands globally. One of its key features is the requirement to use domestically grown agricultural produce (excluding additives, flavours, and edible oils) in manufacturing, which has significantly increased local procurement, benefiting farmers and uplifting rural and underdeveloped regions.
The emphasis on using local raw materials has not only supported agricultural incomes but also created a significant number of off-farm employment opportunities, driving rural economic development. The scheme also provides financial incentives to encourage Indian food brands in global markets, covering up to 50% of branding and marketing expenses abroad, with a cap of 3% of annual sales or Rs 50 crore per year, whichever is lower. To be eligible, applicants must invest at least Rs 5 crore over five years.
Currently, 73 beneficiaries are availing of this component, further strengthening India’s presence in the global food processing arena, as per the ministry’s release.
In other news, the Cabinet has approved the Rithala-Kundli Corridor of Delhi Metro Phase-IV, which will boost connectivity in the National Capital Region (NCR). This move is expected to have a positive impact on the region’s economic growth and development.
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