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FNB News - CII calls Production Linked Incentive scheme of Government of India a game changer

Monday, 05 April, 2021, 08 : 00 AM [IST] Ashwani Maindola, New Delhi Industry body CII welcomed the Production Linked Incentive scheme of Government of India and called it a game changer for the food processing industry. Food Industry CEOs in a survey of CII on PLI Scheme for Food Processing Industry expressed that the scheme will enable the sector with modern infrastructure. Sanjiv Puri, chairman, CII National Council on Agriculture and Chairman and Managing Director ITC Limited, said that the PLI Scheme approved will be a game changer in boosting food processing investments, agri-exports, farmer incomes and in building Indian brands for the global market. This is a transformative step forward. 

Cabinet OKs ₹11k cr scheme for food processing sector | India News

NEW DELHI: The Union Cabinet on Wednesday approved a Rs 10,900 crore Production Linked Incentive (PLI) scheme for the food processing industry as the Centre sought to rein in farm wastage, ramp up farmer incomes, boost employment and establish India’s own brands of food products in international markets. The government has cleared a Rs 2 lakh crore PLI package for 13 sectors, including electronics, pharma, air conditioners and speciality steel with the money to be spent over the next five years. Commerce and industry minister Piyush Goyal, whose ministry did the groundwork for the scheme, said the scheme for food processing was part of the Modi government’s effort to strengthen the farm sector and support farmers.

Indian man-made fibre garment exports expected to grow in 2021: TexPro

01 Pic: Shutterstock The exports of garments, made using man-made fibre (MMF), from India are expected to move up in 2021 with government support and efforts of industry experts. It is expected to surge to $430.66 million in June 2021 with a CAGR of 8.00 per cent from the $271.39 million in December 2020, according to   Likewise, the average monthly exports of MMF garments from India are expected to grow to $358.36 million in the first half of 2021 with a rise of 39.88 per cent from the monthly average of 2020.   The MMF garments exports of India has been recovering with considerable growth rates after the ease in impact of COVID-19. The Government of India (GoI) has been working on the strategies to boost the exports of the country which can sustain the country’s economy in this difficult time of pandemic. The GoI and industry stakeholders have targeted to achieve approximately 10.00 per cent market share in the global market of MMF garments.

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