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FDI in trading of Food Products - Govt holds meeting with foreign missions

By TIOL News Service

NEW DELHI, MAR 14, 2017 : MINISTRY of Food Processing Industries has held three meetings with Ambassadors and High Commissioners in India of various foreign countries namely Australia, China, Canada, France, Indonesia, Japan, Korea, Netherland, Poland, Russia, Singapore, UK, New Zealand, UAE, Thailand, Germany, Belgium, Brazil, USA, Malaysia, Mexico, Switzerland, Spain and Italy.

In the first two meetings, the foreign Missions were apprised about the recent path breaking policy initiatives of Government of India allowing 100% FDI in manufacturing under automatic route and 100% FDI in trading, including e-commerce, in respect of food products manufactured and/or produced in India. The Ministry of Food Processing Industries further explained them the opportunities available as a result of these policies for the investors of their country to invest in India in the Food Processing sector for exploring new food business tie-ups as well as expansion of their food business already existing in India. They were also asked to further disseminate the information in this regard to the investors of their country.

In the latest meeting held on 27.02.2017, Ministry of Food Processing Industries invited all the foreign Missions present in the meeting to participate in the mega international food event, World Food India 2017, to be held in New Delhi from 3rd – 5th November 2017 to showcase the various investment opportunities in India in the food processing and food retail sector.

Ministry of Food Processing Industries has already sanctioned new Mega Food Parks, Cold Chains infrastructure and Food Testing Laboratories, which are normally equipped with latest technology and modern infrastructure in their units/plants.

The Ministry is also encouraging organization of seminars, workshops and conferences to exhibit opportunities in the food processing sector and Make in India initiative in all fields including latest equipments and technologies. New policy initiatives such as Ease of doing business, Make in India and 100% FDI policy in manufacturing of food products and trading of food products manufactured/produced in India, will also help to bring latest technologies to this sector.

Ministry of Food Processing Industries is attending various food related international events from time to time and also interacting with foreign investors, which would further facilitate transfer of latest technologies to food processing sector in India.

The Ministry is organizing mega international event, World Food India 2017 from 3rd to 5th November 2017 which is also likely to attract latest technologies in Food Processing sector.

The increase in FDI in the Food Processing sector and retailing of food products will encourage creation of more food processing infrastructure including backward and forward linkages, cold storages, etc. which will in turn benefit the farmers in realizing remunerative prices for their produce and will create opportunities for generating more employment.

This information was given by the Minister of State for Food Processing Industries Sadhvi Niranjan Jyoti in a written reply in Lok Sabha today.


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