 "Grofers India seeks government approval for FDI in food trading")
Grocery delivery start-up Grofers has sought government's approval for foreign direct investment to carry out trading in food products.
The government has recently permitted 100 per cent FDI under government approval for trading, including through e-commerce, in respect of food products manufactured or produced in India.
According to the information on the website of the Department of Industrial Policy and Promotion (DIPP), Grofers India Pvt Ltd has sought approval "to undertake trading including through e-commerce in food products manufactured and/or produced in India".
Union Minister Harsimrat Kaur Badal has said India's food processing industry is expected to treble in coming years on the back of a higher economic growth.
The size of the industry is about Rs 1.5 lakh crore.
The food processing ministry has proposed to organise the World Food Summit in 2017 that would act as a single platform for investors, technology solution providers, processors, manufacturers and all other relevant national and international stakeholders.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%