The state of Andhra Pradesh has received an investment of Rs 1257.47 crores under the PLISFPI, i.e., Production Linked Incentive (PLI) scheme for the Food Processing Industry.
Of this, a whopping Rs 939 crores came in for the marine products segment, i.e., a staggering 74% of the total investments received under the PLISFPI in AP came in towards the marine products sector alone.
This information was recently revealed by the Minister of State for Food Processing Industries, Mr Ravneet Singh, while replying to a question raised by the TDP Lok Sabha member of parliament, Mr Lavu Sri Krishna Devrayalu, on the number of applications approved under the Production Linked Incentive (PLI) scheme in AP and other states.
The minister informed that under the Production Linked Incentive Scheme for Food Processing Industry (PLISFPI), a total of 170 applications with 278 projects (pan India) have been approved, of which 277 projects have started commercial production.
He further mentioned that the committed investment approved under the scheme stood at Rs. 7644.27 crore, against which the actual investment is Rs. 9032.11 crore, which is 118 % of the committed investment.
Andhra Pradesh
Out of the total 278 projects approved, 38 units were approved for the state of Andhra Pradesh, with the Marine products segment getting the highest numbers, with 26.
“This data reveals the strong focus that the marine sector continues to have in Andhra Pradesh. Further, it’s good to see the value addition being undertaken by this sector on a large scale, thereby benefiting farmers too,” said Mr Lavu Sri Krishna, speaking to Vizag Industrial Scan.
East Godavari district was the most sought-after district for the marine products sector for the PLI, with as many as 8 companies establishing units there.
The other districts for the marine products segment included West Godavari, Kakinada, Guntur, Nellore, Krishna, and Prakasm.
A total of nine seafood companies have availed the PLI scheme, which includes the likes of Asvini Fisheries, Avanti Frozen Foods, Choice Trading, Devi Fisheries, Devi Seafoods, ITC Limited, Nekkanti Seafoods, Sandhya Aqua, and Sandhya Marines.
Apart from the marine sector nine units were allocated for fruits and vegetables, two for millets, and one for ready-to-cook/ready-to-eat.
About PLI-SFPI
The Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) was approved by the Union Cabinet on March 31, 2021, with a budget of Rs. 10,900 crs, to be implemented from 2021-22 to 2026-27.
It consists of 3 components: incentivizing manufacturing in four major food product seg- ments, promoting innova- tive and organic products of SMEs, and supporting branding and marketing abroad for Indian brands.
