Narendra Modi government considering demands to permit non-food items under FDI policy

By: |
New Delhi | Published: February 27, 2017 10:05:20 PM

After food-products, the Narendra Modi-led central government is considering the demands made by forign retailers to allow no-food items under the Foreign Direct Investment (FDI) policy.

Dollar, Rupees, Financial Year 2017, GST, Union Budget, Geo PoliticsLast year, the government had allowed 100 per cent foreign direct investment (FDI) in marketing of food products which are produced and manufactured in India.(Reuters)

After food products, the Narendra Modi-led central government is considering the demands made by foreign retailers to allow no-food items under the Foreign Direct Investment (FDI) policy. Confirming the government’s consideration on the demand, Union Minister Harsimrat Kaur Badal has today stated that the central government might also allow the sale of other products like those for home care, manufactured by foreign retailers in the country.

“Many big global retailers are keen to set up their stores in India after we allowed 100 per cent FDI in food processing sector. But they are demanding they should be allowed to sell non-food items such as home care products,” Badal told PTI.

Last year, the government had allowed 100 per cent foreign direct investment (FDI) in marketing of food products which are produced and manufactured in India.

Also Watch:

The Minister today held a meeting with representatives of 22 countries for inviting them to participate in World Food Fair to be organised here in October this year. In the meeting, she said the representatives also sought that foreign retailers should be allowed to import food products for initial 6-8 months to test these items in Indian market before establishing manufacturing facility here.

Badal said she will take up the concerns of foreign retailers and all other stakeholders with Prime Minister’s Office and other departments including DIPP. Speaking on the upcoming global food fair, Badal said that countries like UAE have expressed their desire to be part of this event. The Minister further said that she is aiming to make this event a global platform for all stakeholders of food industry with special focus being given to India.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition