The Ministry of Food Processing Industries has said that it is pushing for liberalisation of the multi-brand food processing industry in the country.
“Currently 100 per cent foreign direct investment is allowed through the automatic route in the processing sector. I have written to the Prime Minister to allow 100 per cent FDI for food which is produced and processed in India,” Union Minister and Ministry of Food Processing Industries Harsimrat Kaur Badal said during the Make in India Week.
If this is allowed, it will be a game changer and will help control inflation as well, Kaur said, adding that this is different from the earlier proposed policy of the UPA government, as under that policy, only 15 per cent local sourcing was sought.
“Currently 100 per cent foreign direct investment is allowed through the automatic route in the processing sector. I have written to the Prime Minister to allow 100 per cent FDI for food which is produced and processed in India,” Union Minister and Ministry of Food Processing Industries Harsimrat Kaur Badal said during the Make in India Week.
If this is allowed, it will be a game changer and will help control inflation as well, Kaur said, adding that this is different from the earlier proposed policy of the UPA government, as under that policy, only 15 per cent local sourcing was sought.
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