The Production Linked Incentive Scheme for Food Processing Industry (PLISFPI), implemented in 2021-22 by Ministry of Food Processing Industries (MoFPI), has shown strong performance.
About PLISFPI
- Type: Central Sector Scheme
- Ministry: MOFPI
- Total outlay: ₹10,900 crore
- Duration: 6 years (2021-22 to 2026-27)
- Objectives: Create global food manufacturing champions, Promote Indian food brands internationally, Generate off-farm employment, Ensure better prices to farmers & higher income.
About Food Processing Sector In India
- It involves the transformation of raw agricultural products into consumable food items through various physical, chemical, and mechanical processes.
- This sector plays a crucial role in enhancing the shelf life, safety, and quality of food, thus meeting the demands of a growing global population.
- According to Annual Survey of Industries (ASI) report,
- Gross Value Added (GVA) increased from ₹1.61 lakh crore (2015-16) to ₹1.92 lakh crore (2022-23).
- The sector recorded an Average Annual Growth Rate (AAGR) of ~5.35% over the last 8 years.
- Employment rose from 17.73 lakh (2014-15) to 20.68 lakh (2021-22).
- Other Key Government initiatives: PM Kisan SAMPADA Yojana (PMKSY), Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME), Mega Food Parks Scheme, etc.
