Investment proposals during World Food India 2023

February 13, 2024 1 min read

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13 February 2024, New Delhi: Ministry of Food Processing Industries (MoFPI) organized World Food India-2023 during 3rd to 5th November,2023 at Bharat Mandapam, Pragati Maidan, New Delhi. The total amount of Investment interests announced and MoUs signed during the World Food India 2023 is Rs. 33,129 Crore.

In order to provide boost to the Food Processing Industries, Ministry promotes investment in Food Processing Sector through its schemes (i) Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), (ii) Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) and (iii) PM Formalization of Micro Food Processing Enterprises (PMFME). Projects assisted under these scheme have resulted in estimated Investment leverage of more than Rs. 25869 Cr.

Under component schemes of PMKSY, the Ministry provides mostly credit linked financial assistance (capital subsidy) in the form of grants-in-aid to the entrepreneurs including individual entrepreneurs.

The Ministry also provides financial, technical and business support for setting up/ upgradation of individual micro food processing enterprises through credit linked subsidy under PMFME scheme.

Ministry is implementing the Central Sector Scheme- “Production Linked Incentive Scheme for Food Processing Industry (PLISFPI)” to support creation of global food manufacturing champions commensurate with India’s natural resource endowment and support Indian brands of food products in the international markets with an outlay of ₹10,900 crores, to be implemented from 2021-22 to 2026-27. PLISFPI is targeted to facilitate expansion of Food Processing capacity by creating champion brands in Food Processing Sector.

An incentives amount of ₹584.3 Crore has been disbursed so far to the 41 eligible cases for the FY 2021-22. Investment to the tune of ₹7696.58 crore has been reported by the PLI beneficiaries

Also Read: World Pulses Day 2024: Will India become self-sufficient in Pulses?

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