India readies new PLI round for food processing sector: Joshi

Economic Times
Economic Times
2w ago • 22 views
India is set to introduce a new round of the Production-Linked Incentive (PLI) scheme for the food processing sector, aiming to enhance manufacturing and value addition.
India readies new PLI round for food processing sector: Joshi
A What happened
The Indian government is gearing up to launch a new round of the Production-Linked Incentive (PLI) scheme aimed at the food processing sector. This announcement was made by Food Processing Secretary A P Das Joshi during the 98th Annual General Meeting of the Federation of Indian Chambers of Commerce & Industry (FICCI). The PLI scheme is designed to encourage domestic manufacturing and enhance value addition within the food industry. By providing incentives, the government hopes to boost production capabilities and attract investments in this vital sector. This move signifies a continued commitment to supporting the food processing industry, which plays a crucial role in India's economy and food security.
★

Key insights

  • 1

    New PLI scheme announced: A fresh round of incentives for food processing is on the way.

  • 2

    Focus on manufacturing: The initiative aims to strengthen domestic manufacturing capabilities.

  • 3

    Value addition emphasized: The scheme seeks to enhance value addition in the food sector.

Takeaways

The new PLI scheme for the food processing sector represents a strategic effort by the Indian government to bolster manufacturing and improve value addition, which is essential for economic growth.

Topics

Lifestyle Food Business & Markets Economy World & Politics Policy & Regulation