Sep 29, 2018
To give a boost to the food processing sector, the government will ease the foreign direct investment (FDI) regulation which has attracted $ 8.7 billion of investment. At present, 100 per cent FDI in food processing sector is allowed in setting up of manufacturing unit. There is no permission required for wholesale business in the sector too.
Ministry of commerce and industry DIPP joint secretary, Rajiv Aggarwal said that MNCs and investors were facing some hurdles, which has now been removed in terms of modifications, harmonization and hoped to provide ease of doing business in the sector.
India needs technology and investment in supply chain mechanism to boost the industry; hence the government is expected to announce a new industrial policy soon. The proposed policy will encompass the use of new technologies such as artificial intelligence and IoT which will open new avenues for investments in India