Some of the links in this article are "affiliate links", a link with a special tracking code. This means if you click on an affiliate link and purchase the item, we will receive an affiliate commission.
The price of the item is the same whether it is an affiliate link or not. Regardless, we only recommend products or services we believe will add value to our readers.
By using the affiliate links, you are helping support our Website, and we genuinely appreciate your support.
PLI Scheme Powers Job Growth (Image Source: iStockphoto)
The production-linked incentive (PLI) scheme for the food processing industry has been a significant driver of employment, creating over 2.89 lakh jobs as of October 31, 2024, according to a statement from the Ministry of Food Processing Industries. The program, approved by the Union Cabinet in March 2021, intends to strengthen the country’s food processing sector and has produced an investment of Rs 8,910 crore across 213 locations.
With a total budget of Rs 10,900 crore, the PLI scheme is set to run from 2021-22 to 2026-27, and its beneficiaries include 171 applicants, many of which are small and medium enterprises (SMEs). The scheme has not only promoted domestic manufacturing and value addition but also significantly boosted employment, particularly in rural areas. By mandating the use of domestically grown agricultural products in food processing (excluding certain additives and oils), the scheme has driven local procurement, thereby supporting farmers’ incomes and fostering rural economic growth.
“Furthermore, the emphasis on local production of raw materials for processed food has generated additional off-farm employment opportunities, significantly contributing to the economic development of rural regions,” the Ministry said.
The PLI scheme is part of a larger government initiative to help the food processing industry, which includes the Pradhan Mantri Kisan Sampada Yojana (PMKSY) and the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) scheme. These projects give financial, technical, and marketing assistance to SMEs, encouraging innovation, growth, and formalization in the sector.
Under the PLI scheme, the beneficiaries of the PLI plan can receive reimbursement for up to 50% of their international branding and marketing costs, subject to a maximum of Rs 50 crore per year. Currently, 73 participants benefit from this component of the system, reflecting its rising impact on the sector.
(With Inputs From IANS)
#Jobs,#JobSearch,#Hiring,#Job,#Work,#Career,#Employment,#JobSeekers,#HiringNow,#JobOpening,#TechJobs,#Technology,#MachineLearning,#DataScience,#AIJobs,#Cybersecurity,#TechCareer,#SoftwareEngineering,#ITJobs,#AI,#RemoteJobs,#RemoteWork,#WorkFromHome,#WFH,#RemoteWorking,#WorkFromAnywhere,#DigitalNomad,#RemoteLife,#OnlineJobs,#VirtualAssistant,#JobMarket,#EmploymentTrends,#LaborMarket,#CareerTrends,#JobMarket2025,#Workforce,#HiringTrends,#JobOpportunities,#CareerDevelopment,#FutureOfWork,#ArtificialIntelligence,#MachineLearning,#DeepLearning,#AIEngineer,#NLP,#Robotics,#Automation,#JobLoss,#Layoffs,#Unemployment,#JobCuts,#EmploymentChallenges,#WorkforceReduction,#JobSecurity,#EconomicTrends,#CareerChange,#Redundancy,#EntryLevelJobs,#EntryLevel,#FirstJob,#GraduateJobs,#NewGrad,#CareerStart,#JuniorJobs,#JobForGrads,#YoungProfessionals,#CareerBeginner,#FinanceJobs,#FinancialCareers,#Fintech,#Finance,#BankingJobs,#FinancialServices,#InvestmentJobs,#FinanceCareer,#MoneyJobs,#WealthManagement,#German
