India’s Food Processing Potential
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What the editorial is about?
Production-Linked Incentive Scheme for Food Processing Industry.Context:
India has formulated a unique Production-Linked Incentive Scheme (PLIS) which aims to incentivise incremental sales with ₹10,900 crores earmarked for the scheme.What is the scope of the Food Processing Industry in India?
Competitive Advantage
- India is one of the largest producers of fruits and vegetables in the world.
- India has a competitive advantage in terms of resource endowment, large domestic market and scope for promoting value-added products.
Marketplace Stats of Food Processing in India
- This zone is anticipated to generate nine million jobs with the aid of 2024.
- The Indian food industry is increasing at a CAGR of 11% and the food processing region accounts for 32%
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