Food Processing PLI Sees Rs 9,207 Cr Investment, Rs 2,162 Cr Incentives Disbursed

New Delhi, Jan 31 (KNN) A total of 169 applications have been approved under various categories of the Production Linked Incentive Scheme for Food Processing Industries (PLISFPI) implemented by the Ministry of Food Processing Industries (MoFPI).

This information was provided by the Minister of State for Food Processing Industries, Ravneet Singh, in a written reply to Lok Sabha.

According to the Ministry, approved applicants under the scheme have made a cumulative investment of around Rs 9,207 crore so far. The government has also disbursed incentives amounting to Rs 2,162.55 crore to eligible beneficiaries under the scheme.

The PLISFPI has contributed to the creation of nearly 35 lakh metric tonnes per annum of processing and preservation capacity across the country. The scheme has also led to employment generation of about 3.39 lakh persons, including both direct and indirect jobs, the Ministry said.

To promote Indian food brands in international markets, the scheme provides financial incentives for branding and marketing of Indian-branded consumer food products abroad.

Under this component, beneficiaries are reimbursed 50 percent of eligible branding and marketing expenditure, subject to a cap of 3 percent of annual food product sales or Rs 50 crore per year, whichever is lower.

The Ministry noted that exports of agricultural processed food products approved under PLISFPI have recorded a compound annual growth rate (CAGR) of 13.23 percent in 2024–25 compared to the base year 2019–20.

For effective implementation and monitoring, MoFPI has appointed Industrial Finance Corporation of India (IFCI) Limited, a Government of India undertaking, as the Project Management Agency (PMA).

IFCI is responsible for appraisal of proposals and scrutiny of incentive claims, including verification of invoices, statutory auditors’ certificates, reconciliation with GST filings, chartered engineers’ certifications and physical inspections.

The Ministry added that Standard Operating Procedures (SOPs) have been prescribed to ensure compliance with minimum sales and investment thresholds required for claiming incentives under the PLISFPI.

(KNN Bureau)