India's government invites EoI latest by June 17 for Rs 11k-cr food processing PLI scheme

Published 2021년 5월 4일

Tridge summary

The Indian food processing industries ministry has launched the operational guidelines for its Production Linked Incentive (PLI) scheme, inviting expressions of interest by June 17. The scheme, which was approved with an estimated cost of Rs 10,900 crore to the exchequer over the next six years, aims to boost processed food manufacturing, increase farmers' incomes, and attract foreign investment. The scheme has eligibility criteria for large entities and SMEs, and covers a wide range of food products. The total incentives under the PLI schemes are estimated at Rs 1.97 lakh crore over a 5-6 year period, with the government potentially seeing a boost in tax revenue due to increased domestic manufacturing and sales.

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Original content

Issuing detailed operational scheme guidelines for its Production Linked Incentive (PLI) scheme, the food processing industries ministry Monday invited an expression of interest latest by June 17 so that it takes off at the earliest. The Cabinet on March 31 had cleared a production-linked incentive (PLI) scheme to promote processed food manufacturing, with an estimated cost of Rs 10,900 crore to the exchequer over the next six years.Announcing the Cabinet decision, minister for commerce, railways and food and public distribution Piyush Goyal had said that the scheme for food processing would contribute to the government’s efforts to increase farmers’ incomes through better processing of agricultural produce and attract huge foreign investments in the high-potential sector.According to the guidelines, large entities under category-I should have minimum sales (all food products during 2019-20) turnover of Rs 500 crore for ready to cook/ready to eat (RTC/RTE) food, Rs 250 crore for ...

Source: Financialexpress