The Cabinet sanctioned the Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) on March 31, 2021, allocating $1.30 billion for implementation from FY 2021-22 to FY 2026-27. The scheme focuses on incentivizing manufacturing in four food product segments, promoting Innovative/Organic products of SMEs, and encouraging global branding and marketing. Additionally, the PLI Scheme for Millet-based Products, initiated in FY 2022-23 with a budget of $95.92 million, utilized the scheme’s savings.
As of April-September 2023, PLI beneficiaries have reported investments totaling $854.46 million, with sales amounting to $5.97 billion. According to scheme guidelines, PLI beneficiaries must submit incentive claims for a specific financial year by December 31 of the following financial year.
During the development of PLISFPI, steps were taken to align it with global best practices and market needs. This involved engaging with stakeholders, including experts and manufacturers, adopting a consultative approach for input. Ongoing collaboration ensures the scheme’s continued relevance.
The program aims to create jobs for about 0.25 million individuals. As of September 30, 2023, Quarterly Review Reports from PLI beneficiaries show the employment creation for 2,37,335 persons.
