Most components of the ingenious FMCG index were negotiated on the green on December 7, one day after the Government, said that it had approved requests from 60 companies under the incentive scheme linked to production (PLI) for food processing .

The Ministry of Food Processing, said requests for investment proposals by packaged food companies, such as Amul, ITC, HUL, Britannia Industries, Parle Agro, Tata Consumer Products and Nestle India, had been approved.

Although ITC was marketed 0.6 percent higher in RS 219.10 at BSE, HUL was 0.8 percent in RS 2,326.55 and Britannia Industries rose 1 percent in RS 3,528.55.

In March 2021, the Cabinet approved a PLI scheme for the food processing sector, with a disbursement of RS 10,900 million rupees. The scheme would help create 2.5 jobs in Lakh, promoting exports and would guarantee the availability of a wider range of value-added products for consumers, the Government said.

The Ministry had invited expressions of interest (EOI) and proposals to take advantage of these incentives with the last date of submission of proposals as of June 24.

“In response to EOI, the Ministry had received a total of 91 requests in category 1. The Approval Committee under the Presidency of the Minister, FPI (Food Processing Industries) has granted approval to 60 applicants in the Category 1, “he said in a prayer.

According to the list, 12 requests have been approved in segment ready to eat and ready to cook, including the Britannia Industries, Haldiram Snacks, Milk Marketing Federation of Gujarat (AMUL), Parle Cookies, Balaji, Balaji Wafers, Hindustan Unilever , Prataap Snacks and others.

In the fruit and vegetable segment, 18 requests from companies including Parle Agro Agro, tasty dining rooms, ITC, Hindustan Unilever, Beverages Varun, India, Dabur India, Tata and others consumer products.

In the marine food category, 11 proposals have been approved, including those of Falcon marine exports, Avanti frozen foods and ITC.

Four proposals have been approved in the Mozzarella cheese segment of Milk Foods from Parag, Amul, Sunfresh Agro Industries and Indapur Lecomery and Milk Products.

At 9.50 am, the ingenious FMCG index was 0.6 percent higher at 37,024.20 points.