Industry association CII welcomed the Government of India’s Production Linked Incentive program, calling it a trailblazer for the food industry. In a survey by CII on the PLI system for the food industry, the CEOs of the food industry said that the program will enable the sector to have modern infrastructure.
Sanjiv Puri, chairman of the CII National Council on Agriculture and chairman and chief executive officer of ITC Limited, said the PLI program has been shown to transform investments in food processing, agricultural exports, farmers’ incomes and building Indian brands for the world market . This is a transformative step forward.
Suresh Narayanan, Chairman of the CII National Food Industry Committee and CMD, Nestle India, said, “The production-based food industry incentive system will enable the creation of a modern infrastructure with efficient supply chain management from farm to retail. This will create an ecosystem that enables aggregation, collaboration and access to export markets. “
Sudhir Sitati, co-chair of the CII National Food Industry Committee and Executive Director of Food and Refreshments, HUL, said, “The Food Industry Production-Linked Incentive System (PLISFPI) will facilitate the expansion of processing capacity to produce a processed food production of Rs 33,494 crore by 2026-27 as a result of increased investment (to meet the specified investment threshold) by the participating industry, which contributes significantly to the creation of value and the reduction of food waste. “
Mayank Jalan, co-chair of the CII National Committee on Allied Sectors in Agriculture and CMD, Keventer Agro, said, “Given the need of the hour, it is to improve the processed food value chain by creating efficient backward links to which one Contribution Can Be Made The Production-Linked Incentive System for the Food Industry (PLISFPI) will help create newer markets for farmers and create nearly 2.5 lakh jobs by 2026-27, as well as paid prices for agricultural products and higher incomes to ensure farmers. “
The chairman of Piruz Khambatta, CII Simple Business Task Force and chairman and general manager of Rasna Private Limited, said: “The Production-Based Incentive System for the Food Industry (PLISFPI) is indeed timely and will create a favorable environment and strong alongside existing agricultural reforms Impetus for production, combined with the growth of food exports and the creation of the India brand for the Indian food industry. “
The proven budget for the Ministry of Food Processing and Industry (MOFPI) over a five year period is Rs 10,900 billion according to the PLI program announced by the Government of India last November.
The cross-industry PLI program was created to make Indian manufacturers globally competitive, attract investment in core competency and cutting-edge technology, ensure efficiency, achieve economies of scale, increase exports and make India an integral part of the global supply chain.