FDI in trading of Food Products
She said that her department has held three meetings on Mar 17 and August 3 last year and on Feb 27 this year with various countries on the issue of FDI.
She said that meeting were held with India-based Ambassadors and High Commissioners 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.
These meetings were facilitated by the Ministry of External Affairs.
In the first two meetings, the foreign Missions were apprised about the Government's policy initiatives such as 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 opportunities existed 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, the minister said that Ministry of Food Processing Industries has 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 November 3-5, 2017, to showcase the various investment opportunities in India in the food processing and food retail sectors.
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 equipment 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, the minister said.
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