PLI scheme for Food Processing Industry:
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The scheme will be implemented over a six-year period from 2021-22 to 2026-27.
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Aim: The scheme aims to support the creation of global food manufacturing champions according to the natural resources of India.
Objectives of the Scheme
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PLI scheme will support food manufacturing org with stipulated minimum Sales.
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Furthermore, It will support Indian brands of food products in the international markets with an outlay of Rs. 10900 crore.
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Moreover, it will increase employment opportunities for nearly 2.5 lakh persons by the year 2026-27.
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The scheme will ensure good prices for farm produce and higher income to farmers.
Salient features of the PLI scheme for Food Processing Industry
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First component of the scheme
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It will incentivize the manufacturing of four major food product segments:
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Marine Products,
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Mozzarella Cheese
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Processed Fruits & Vegetables
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Ready to Cook/ Ready to Eat (RTC/ RTE) foods
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Selected applicants will require investing in Plant & Machinery in the first two years i.e. in 2021-22 & 2022-23.
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The amount of Investment during 2020-21 will be counted for meeting investment requirements.
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The entities selected for making innovative/ organic products will be exempt from the Minimum Sales and mandated investment requirements.
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2nd component of the scheme
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Under this component, support will be provided for branding and marketing abroad.
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The entity will receive grants for in-store Branding, shelf space renting, and marketing.
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