India to make life easier for food producers
This is 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 Center 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. ■