• Mon. Feb 26th, 2024

Food processing industry has invested ₹7,427 crore under PLI scheme so far: Govt

Food processing industry has invested ₹7,427 crore under PLI scheme so far: Govt

New Delhi: Invested in food processing industry 7,427 crore under the Production-Linked Incentive (PLI) scheme so far, Union Minister of State for Food Processing Industries Prahlad Singh Patel said in a written reply in the Lok Sabha.

New Delhi: Invested in food processing industry 7,427 crore under the Production-Linked Incentive (PLI) scheme so far, Union Minister of State for Food Processing Industries Prahlad Singh Patel said in a written reply in the Lok Sabha.

“Under the scheme, 158 applications have been approved for availing incentives. 7,427.22 crores (as on 31st March 2023) has been invested by the beneficiaries under the scheme, as per the information received. So far, incentives 517.604 crore has been disbursed for the financial year 2021-22,” the minister said.

“Under the scheme, 158 applications have been approved for availing incentives. 7,427.22 crores (as on 31st March 2023) has been invested by the beneficiaries under the scheme, as per the information received. So far, incentives 517.604 crore has been disbursed for the financial year 2021-22,” the minister said.

PLI Scheme for Food Processing Industries (PLISFPI), which has a cost 10,900 crore, was approved in March 2021 It will be implemented for seven years till 2026-27

PLI Scheme for Food Processing Industries (PLISFPI), which has a cost 10,900 crore, was approved in March 2021 It will be implemented for seven years till 2026-27

The scheme consists of three components: four main food product categories (ready-to-cook/ready-to-eat, processed fruit and vegetables, seafood and mozzarella cheese); Promotion of innovative/organic products of SMEs; and supports branding and marketing for Indian brands in overseas markets.

The scheme consists of three components: four main food product categories (ready-to-cook/ready-to-eat, processed fruit and vegetables, seafood and mozzarella cheese); Promotion of innovative/organic products of SMEs; and supports branding and marketing for Indian brands in overseas markets.

Additionally, PLI Scheme for Millet-based Products (PLISMBP) was introduced in FY 2022-23. 800 crore using savings under PLISFPI.

Additionally, PLI Scheme for Millet-based Products (PLISMBP) was introduced in FY 2022-23. 800 crore using savings under PLISFPI.

Recently, a KPMG report stated that the Indian food processing market is expected to grow to $470 billion by 2025, from $263 billion in 2019-20.

Recently, a KPMG report stated that the Indian food processing market is expected to grow to $470 billion by 2025, from $263 billion in 2019-20.

(TagstoTranslation)Food Processing

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