171 Firms Approved Under Food Processing PLI, Over 2.89 Lakh Jobs Created

The PLISFPI scheme was approved by the Union Cabinet in March 2021, with an outlay of Rs 10,900 Crore. The Scheme is being implemented over a six-year period from 2021-22 to 2026-27

As of October 31, 2024, the scheme has reportedly generated employment of over 2.89 lakh

Source : Pexels

A total of 171 food processing companies have been approved for assistance under the Production-Linked Incentive Scheme for Food Processing Industry (PLISFPI) and incentives worth Rs 1,155.296 crore has been disbursed, out of which Rs 13.266 crore has been disbursed to MSMEs in 20 eligible cases (as of February 28), the government has informed.

The PLISFPI scheme was approved by the Union Cabinet in March 2021, with an outlay of Rs 10,900 Crore. The Scheme is being implemented over a six-year period from 2021-22 to 2026-27.

According to data reported by the scheme's beneficiaries, an investment of Rs 8,910 crore has been made across 213 locations.

As of October 31, 2024, the scheme has reportedly generated employment of over 2.89 lakh.

The scheme has significantly contributed to the country's overall growth and development by scaling up domestic manufacturing, enhancing value addition, boosting the domestic production of raw materials, and creating employment opportunities.

It supports large companies, millet-based products, innovative and organic products, as well as small and medium enterprises, while also promoting Indian brands globally, according to the Ministry of Food Processing Industries.

The government has also sanctioned 1,608 projects including 41 Mega food Parks, 394 Cold Chain projects, 75 Agro-processing Clusters projects, 536 Food Processing Units, 61 Creation of Backward & Forward Linkages and 44 Operation Greens projects under corresponding component schemes of PMKSY across the country.

A total sum of Rs 6,198.76 crore has been disbursed as grants in aid/ subsidy since inception of component schemes of PMKSY (as of February 28), the ministry informed.

The umbrella Central sector scheme SAMPADA — Scheme for Agro-marine processing and Development of Agro-processing Clusters — was approved in May 2017, with a total allocation of Rs 6,000 crore for the implementation period.

The continuation of the SAMPADA Yojana with an allocation of Rs 4,600 crore has been further approved until March 31, 2026.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)