PLIs is being implemented for minting global food manufacturing champions
A total of 1,002 food processing industries related project proposals from state governments and entrepreneurs, under various sub-schemes of Pradhan MantriKisanSampadaYojana (PMKSY), have been approved.
Giving this update on 23 Dec 2022, Minister of State for Food Processing Industries Prahlad Singh Patel said that a new Production Linked Incentive scheme (PLIs) for Food Processing Sector is being implemented to support creation of global food manufacturing champions.
He pointed out that the Gross Value Addition (GVA) in food processing sector has increased to Rs.2.37 lakh crore in 2020-21 at a Compounded Annual Growth Rate (CAGR) of 7.27 % from Rs.1.79 lakh crore in 2016-17.
In a written reply to a question in Rajya Sabha, Patel explained that the Ministry implement various schemes to boost value addition in the food processing sector, generate employment opportunities, augment income of farmers etc.
In addition, the Ministry is also implementing the PM-Formalization of Micro Food Processing Enterprises (PMFME) Scheme for providing financial, technical and business support for setting up and or upgradation of two lakh existing micro food processing enterprises across the country.
Although no target is set for employment generation, the food processing sector contributes 12.2% of employment in the registered manufacturing sector.
Further, he said the Ministry implements the Pradhan Mantri Kisan SAMPADA Yojana (PMKSY) which inter–alia aims at creation of modern post-harvest infrastructure, boosting value addition, providing better returns to farmers, creation of employment opportunities etc. fiinews.com
