India’s leading FMCG conglomerate Nestle India Limited said on Tuesday that the Central government has approved the production-linked incentive (PLI) plan for processed fruits and vegetables.
Nestlé India said in a regulatory filing that it filed its proposal to the Indian government's PLI for the food processing sector in June 2021 under the eligible categories of ready-to-eat/ready-to-cook and processed fruits and vegetables. It went on to say that the company has "received communication from the Government of India that their request with respect to processed fruits and vegetables has been approved" on December 6, 2021. Nestlé India expressed its gratitude to the government for the approval, saying it has "always thought that the PLI plan for the food processing sector will support farmers and the food processing sectors." Overall, it's a positive step for a sector that has one of the best ratios of capital investment to job creation, according to the business.
The food processing ministry announced on Monday that it has approved 60 investment requests from packaged food businesses seeking advantages under the PLI scheme, including Amul, ITC, Hindustan Unilever, Britannia Industries, Parle Agro, Tata Consumer Products, and Nestle India.