The government has disbursed Rs. 474 crores under the Production-Linked Incentive (PLI) scheme to support the food processing industry for the financial year 2022-23. For the ongoing financial year 2023-24, the disbursement target of Rs. 700 crore is on track to be achieved, according to an official statement.
Currently, 171 active beneficiaries are availing incentives across various categories in the food processing sector under the scheme, while six firms have withdrawn their applications.
The PLI scheme aims to attract investments in key manufacturing sectors, boost efficiency, and ensure Indian food processing companies remain competitive on a global scale. The initiative is part of the government’s broader plan to enhance domestic manufacturing and promote high-quality food production.