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Cabinet Approves $ 11k CR Scheme for Food Processing Sector | India News

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NEW DELHI: The Union Cabinet approved a Rs 10,900 Production Linked Incentive (PLI) scheme for the food processing industry on Wednesday as the Center sought to curb waste from farms, increase income from farms farmers, boost employment and establish India’s own food brands. in international markets.
The government has authorized a Rs 2 lakh crore PLI package for 13 sectors, including electronics, pharmaceuticals, air conditioners and special steel, with the money to be spent over the next five years. Trade and Industry Minister Piyush Goyal, whose ministry did the groundwork for the plan, said the plan for food processing was part of the Modi government’s effort to strengthen the agricultural sector and support farmers.
He said the plan will help create 2.5 million jobs by 2026-27, boost exports and facilitate the expansion of food processing capacity to generate processed food production worth 33.494 million. rupees. The effort is to take India’s food processing to the next level amid growing global demand for ready-to-eat foods, organic produce, processed fruits and vegetables, seafood and mozzarella cheese, Goyal said.
The government said the first component of the scheme is related to incentivizing the manufacture of four main segments of food products: ready-to-cook and ready-to-eat foods, processed fruits and vegetables, seafood and mozzarella cheese.

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