Harsimrat holds discussion to promote FDI in food processing

Union minister Harsimrat Kaur Badal today hold comprehensive discussions with various departments and other stakeholders to sort out issues impacting smooth flow of FDI in the food processing sector.
"Discussions were held on how to facilitate foreign investments and sort out their issues related to various ministries and departments," the food processing minister said after the meeting.
She said that the concerned ministries and departments have been told to work towards "transforming the Indian food economy and at the same time simplify the laws to attract more investments from across the globe".
The meeting assumes significance as the government is considering certain relaxations in the FDI policy for the food processing sector.

The government is considering allowing stores which would attract FDI to sell personal and home care products up to 25 per cent of their total turnover, sources said.
In June, the government allowed 100 per cent FDI in trading of food products, including through e-commerce, to boost food processing sector in the country.

As per the policy, foreign retailers can sell food products produced and manufactured in India.
Representatives from the commerce and industry ministry, Department of Revenue, FSSAI and micro small and medium enterprises were among others who attended the meeting.
FDI in the country grew by 29 per cent to USD 40 billion in 2015-16 as against USD 30.94 billion in the previous financial year.