New Delhi, Dec 13 (IBNS) To increase the Foreign Direct Investment (FDI) in food processing sector, Government has permitted 100% Foreign Direct Investment (FDI) in all the processed food items through automatic route.
This information was given by the Minister of State for Food Processing Industries, Charan Das Mahant in a written reply in the Lok Sabha on Tuesday.
Mahant said Ministry of Food Processing Industries has not conducted any study to assess the impact of increased inflow of FDI in retail.
However, Foreign Direct Investment (FDI) not only complements and supplements domestic investment but also brings state-of-art technology and best managerial practices, thereby providing better access to foreign technology to the domestic industry.
Thus enabling easy integration of our Food Processing Industries with the global market, he said.
Ministry is providing financial assistance to various research institutions not only for improvement of quality and development of new products but also for innovative technologies in the Food Processing Sector for moving towards self sufficiency in respect of indigenous technology pertaining to food processing industries/sector, said the minister.
