Millennium Post
Business

Centre okays 100% FDI in marketing of food products

With a view to benefit farmers and reduce wastage of fruits and vegetables, the government on Monday allowed 100 per cent foreign direct investment in marketing and processing of foods products. Finance Minister Arun Jaitley in Budget for 2016-17 said the FDI policy has to address the requirements of farmers and food processing industry as a lot of fruits and vegetables grown by farmers either do not fetch the right prices or fail to reach the market. "Food processing industry and trade should be more efficient," he said. 

"100 per cent FDI will be allowed through FIPB route in marketing of food products produced and manufactured in India. This will benefit farmers, give impetus to food processing industry and create vast employment opportunities,” he said in his speech.
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