Cabinet okays Rs 10,900 cr PLI for food processing units under 4 buckets

Indian FMCG majors like ITC, Adani Wilmar & Marico, apart from MNCs like Nestle are expected to benefit

The Union Cabinet on Tuesday approved the much-anticipated production-linked incentive scheme for the food processing sector, paving the way for a rapid expansion of Indian packaged food majors. With an approved outlay of Rs 10,900 crore, the scheme aims to boost local production and export of food items in four categories, apart from special support for innovative items and small and medium enterprises (SMEs) in the sector.

Effective from the financial year 2021-22, the scheme has been designed to offer incentives to select food producers from India to expand their presence in foreign markets by growing production base, retail presence, and