Industry body CII welcomed the Production Linked Incentive scheme of Government of India and called it a game changer for the food processing industry. Food Industry CEOs in a survey of CII on PLI Scheme for Food Processing Industry expressed that the scheme will enable the sector with modern infrastructure.
Sanjiv Puri, chairman, CII National Council on Agriculture and Chairman and Managing Director ITC Limited, said that the PLI Scheme approved will be a game changer in boosting food processing investments, agri-exports, farmer incomes and in building Indian brands for the global market. This is a transformative step forward.
Suresh Narayanan, chairman, CII National Committee on Food processing Industries and CMD, Nestle India, said, “The Production Linked Incentive Scheme for Food Processing Industry will enable the creation of modern infrastructure with efficient supply chain management from farm gate to retail. This will create an enabling ecosystem for aggregation, collaboration and access to export markets.”
Sudhir Sitapati, co-chairman, CII National Committee on Food processing Industries and Executive Director – Foods and Refreshments, HUL said, “Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) will facilitate expansion of processing capacity to generate processed food output of Rs 33,494 crore by 2026-27, as a result of enhanced investments (towards meeting the stipulated investment threshold) by the participating industry, thereby significantly contributing to value addition and reduction in the food wastage.”
Mayank Jalan, co-chairman, CII National Committee on Allied sectors in Agriculture and CMD, Keventer Agro, said, “Given that the need of the hour is to move up the value chain in processed food products by establishing efficient backward linkages to contribute to nation’s food security as well as contribute towards improving the income level of the farmers, the Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) will help create newer markets for the farmers, create employment for nearly 2.5 lakh persons by the year 2026-27, as well as ensure remunerative prices of farm produce and higher income to farmers.”
Piruz Khambatta chairman, CII Task Force on Ease of Doing Business and chairman and Managing Director, Rasna Private Limited, said, “Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) is indeed timely and along- side the existing agricultural reforms, will create an enabling environment and strong impetus for output linked growth of the food exports and creation of brand India for the Indian food processing industry.”
The Approved financial outlay over a five-year period for the Ministry of Food Processing and Industries-MOFPI is Rs 10900 crore, under the PLI scheme announced by Government of India in November last year.
The PLI scheme across the specific sectors was initiated for making Indian manufacturers globally competitive, attract investment in the areas of core competency and cutting-edge technology, ensure efficiencies, create economies of scale, along with enhancing exports and make India an integral part of the global supply chain.