FDI in food processing: Foreign firms may get govt.'s nod to import key ingredients

| Sunday, May 8, 2016 - 17:05
First Published |
FDI: Foreign cos. may import food ingredients

FDI: Foreign cos. may import food ingredients

New Delhi: The government may soon permit companies wanting to set up units in India, to import ingredients like flavours and preservatives, under a proposal to allow 100 per cent FDI in the food processing sector.
This move is likely to bring in some cheer for the industry. The Centre may also permit players to retail their products online, according to the reports.
The Department of Industrial Policy and Promotion (DIPP) has proposed to allow 100%  foreign direct investment (FDI) through government approval route in marketing and selling of food products produced and manufactured in India.  However, the Food Processing Ministry is insisting on making it mandatory for the foreign players to invest a minimum of about 25% of their total investments in rural areas to create infrastructure like cold chains to benefit farmers.

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