World’s largest food and beverage company– Nestle in India has received assent from the government for the production-linked incentive (PLI) scheme for processed fruits and vegetables, it announced on December 7.
In June this year, the company sent a proposal to the Indian government for the PLI scheme for the food processing sector under the eligible groups of ready-to-eat/ready-to-cook and processed fruits and vegetables, Nestlé India said in a regulatory filing.
It further said that Monday, the company has ”received communication from the Government of India that its proposal with respect to processed fruits and vegetables has been approved”.
Showing thankfulness towards the acceptance, Nestlé India said the company ”always believed that the PLI scheme for the food processing sector will help farmers and the food processing industries”.
It is an appreciable step for an industry that has “one of the ratios of capital investment and employment generation,” the company said in a letter to BSE.
The food processing ministry announced on Monday that it has given its nod for 60 investment requests from packaged food businesses like Amul, ITC, HUL, Britannia Industries, Parle Agro, Tata Consumer Products, and Nestle India seeking PLI advantages.
In March 2021, the government gave assent to the PLI scheme for the food processing sector, which would cost Rs 10,900 crore.