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Nestle India receives approval under the PLI scheme for processed fruits and vegetables

In June this year, Nestle had submitted its proposal towards the Government of India’s production linked scheme for the food processing sector under the eligible categories i.e., ready to eat / ready to cook and processed fruits & vegetables.

December 08, 2021 10:32 IST | India Infoline News Service
Nestle India
In major good news, FMCG-giant Nestle India has received approval under the Production Linked Incentive (PLI) scheme for processed fruits & vegetables.

Earlier, in June this year, Nestle had submitted its proposal towards the Government of India’s production linked scheme for the food processing sector under the eligible categories i.e., ready to eat / ready to cook and processed fruits & vegetables.

On December 06, Nestle received communication from the Government of India that its proposal w.r.t. processed fruits & vegetables has been approved.

In its regulatory filing, on Tuesday, the company said, "Nestlé India Limited would like to thank the Government of India for approving its application under the Production Linked Incentive (PLI) Scheme."

"The Company has always believed that the PLI scheme for the food processing sector will help farmers and the food processing industries," Nestle added.

Finally, Nestle said, "It is overall a good step for an industry that has one of the better ratio of capital investment and employment generation."

At around 10.29 am, Nestle was trading at Rs19332.10 per piece flat compared to the previous closing on Sensex.

The stock has touched an intraday high and low of Rs19411.55 per piece and Rs19310.65 per piece respectively.

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