India, Jan. 29 -- The Government of India has issued a release:
A total of 169 applications have been approved under various categories of the Production Linked Incentive scheme for Food Processing Industries (PLISFPI) implemented by Ministry of Food Processing Industries (MoFPI) across the country. A cumulative investment of about Rs. 9207 Crore has been made by the approved applicants as on date.
The total incentive disbursed to eligible beneficiaries under the scheme as on date is about Rs.2,162.55 crore. Further, around 35 lakh metric tonnes per annum of processing and preservation capacity has been created under the scheme. The scheme has also generated employment of about 3.39 lakh persons, including both direct and indirect employment.
Under the PLISFPI, the Government provides financial incentives to promote Indian food brands abroad, supporting branding and marketing activities for Indian-branded consumer food products in global markets. Applicants are reimbursed 50% of their expenditure on branding and marketing abroad, capped at 3% of their annual food product sales or Rs.50 crore per year, whichever is lower. Total export of agricultural processed food products approved under PLISFPI has increased with a CAGR of 13.23% as on 2024-25 with reference to 2019-20.
MoFPI has appointed the Industrial Finance Corporation of India (IFCI) Limited (A Government of India Undertaking) as a Project Management Agency (PMA) for evaluation / appraisal of proposals, scrutiny of incentive claims submitted by the approved applicants after examining the invoices, Statutory Auditors certificate certifying sales, reconciliation with GST filings, Chartered Engineers certificates and physical inspections. In addition, the Standard Operating Procedures (SOPs) have been prescribed to ensure compliance with the minimum sales and investment limits required for claiming PLI incentives.
This information was given by the Minister of State for Food Processing Industries Shri Ravneet Singh in a written reply in Lok Sabha today.
Disclaimer: Curated by HT Syndication.
