You are here: Home » Companies » News
Business Standard

PLI scheme for food processing industry well received by companies: Govt

The government on Wednesday said the production-linked incentive scheme for the food processing industry has been well received by companies like Nestle, ITC, Britannia, KeventerAgro and Amul.

PLI scheme | Food processing sector | Indian companies

Press Trust of India  |  New Delhi 

Food processing

The government on Wednesday said the production-linked incentive scheme for the food processing industry has been well received by like Nestle, ITC, Britannia, KeventerAgro and Amul.

The for the food processing industry, to be implemented during 2021-22 to 2026-27 with an outlay of Rs 10,900 crore, was approved by the Cabinet on March 31.

"The scheme has been well received by the Industry, including Nestle, ITC, Britannia, KeventerAgro, and Amul," the government said.

The scheme is essentially meant for and subsidiaries of MNCs operating in India with minimum sales of food products manufactured in India, it added.

The scheme will encourage investment in four food segments: Ready to Cook/ Ready to Eat (RTC/RTE), including millet-based foods, processed fruits and vegetables, marine products, mozzarella cheese, it added.

According to the government, the objective of the scheme is to support the creation of global food manufacturing champions; support Indian brands of value-added food products in the international markets; increase employment opportunities for off-farm jobs and ensure remunerative prices of farm produce and higher income to farmers.

The government aims expansion of food processing capacity, exports and employment generation for 2.5 lakh persons.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, April 07 2021. 20:39 IST