1. Budget 2016: Food processing sector gets $385.45 mn FDI till Dec in FY16

Budget 2016: Food processing sector gets $385.45 mn FDI till Dec in FY16

India attracted USD 385.45 million FDI in the food processing sector during April-December period of the current fiscal, Parliament was informed.

By: | New Delhi | Published: March 5, 2016 1:45 PM

India attracted USD 385.45 million FDI in the food processing sector during April-December period of the current fiscal, Parliament was informed.

In the previous fiscal, foreign direct investment (FDI) inflows in the food processing sector stood at USD 515.86 million.

According to the data shared by Minister of State for Food Processing Sadhvi Niranjan Jyoti in a written reply in Rajya Sabha, the sector has attracted USD 5,285.66 million FDI during April 2012 to December 2015.

“In the Budget 2016-17, the government has announced 100 per cent FDI in marketing of food and food products produced and manufactured in India,” Sadhvi Niranjan Jyoti said in a written reply to Rajya Sabha.

Earlier this week, while tabling the Union Budget, Finance Minister Arun Jaitley had said that 100 per cent FDI will be allowed through FIPB route in marketing of food products produced and manufactured in India.

He added that this will benefit farmers, give impetus to food processing industry and create vast employment opportunities.

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