60 Large Packaged Food Companies Gets Nod Under PLI Scheme For Food Processing

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Several large packaged food companies have been accorded approval under the government’s PLI scheme for food processing industry. In all, 60 companies which applied for investment in categories such as ready-to-eat products, fruits and vegetables, marine and mozzarella cheese have been granted approval.

The companies include Britannia Industries Ltd, Haldiram Snacks Pvt. Ltd, Gujarat Co-Operative Milk Marketing Federation Ltd (Amul), and ITC Ltd, according to a notice uploaded on the website of the ministry of food processing industries on Dec 6.

The ministry said it received applications from 91 consumer goods companies in response to the invitation for expressions of interest between May and June. Investment details of each company, however, were not disclosed. The selected applicant will be required to invest in plant and machinery in the first two years, i.e. in 2021-22 and 2022-23.

The government announced the PLI scheme for food processing sector on 31 March, with an outlay of ₹10,900 crore. The incentive is linked to local production and sale of products. The scheme was launched to support the creation of global food manufacturing champions commensurate with India’s natural resource endowment and to support Indian brands of food products in international markets.

Also, Read This: 52 Global and Domestic Firms Have Applied Under PLI scheme For White Goods

The scheme covers four segments—ready-to-cook or ready-to-eat foods, processed fruits and vegetables, marine products and mozzarella cheese.

The category of ready-to-eat foods companies include Britannia Industries Ltd, Haldiram Snacks Pvt. Ltd, Gujarat Co-Operative Milk Marketing Federation Ltd, Parle Biscuits Pvt. Ltd, Bikaji Foods International Ltd, Bikanervala Foods Pvt. Ltd, Balaji Wafers Pvt. Ltd, Anmol Industries Ltd, and Hindustan Unilever Ltd.

Under the category of fruits and vegetables, over 30 applications have been approved, including Tata Consumer Products Ltd, Capital Foods Pvt. Ltd, Nestle India Ltd, DS Spice Pvt. Ltd, Dabur India, Parle Agro, MTR Foods Pvt. Ltd, Mccain Foods India, and Tasty Bite Eatables.

The four approvals granted for making mozzarella cheese are to Parag Milk Foods Ltd, Gujarat Co-Operative Milk Marketing Federation Ltd, Sunfresh Agro Industries Pvt. Ltd and Indapur Dairy and Milk Products Ltd. Another 11 applicants have been approved under the marine category, including ITC Ltd.

The scheme will be implemented over a six-year period from 2021-22 to 2026-27.

Also, Read This: How PLI Scheme For ACC Battery Manufacturing Could Help India Cut Its Import of USD 100 billion

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