Govt to relax FDI regulations in food processing
In a bid to give a fillip to industry and an impetus to trade and industry, the government is expected to announce a new industrial policy soon.
The proposed policy will encompass the use of new technologies such as Artificial Intelligence and IoT which will open new avenues for investments in India.
Rajiv Aggarwal, Joint Secretary, Department of Industrial Policy and Promotion, said “the Food Processing Sector is one of the emerging sectors in our country. The government of India’s policy regime and robust business environment have ensured that foreign capital keeps flowing into the country. The government will relax FDI regulations to give a boost to the Food Processing Sector.
Aggarwal was speaking at the 13th edition of ‘Annapoorna World of Food India 2018’, organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) in association with Koelnmesse GmBH on 27 Sept 2018.
While sharing his views via a video message Commerce and Industry Minister Suresh Prabhu pointed out that India produces 600 million tonnes of agriculture and horticulture products.
“We are working on different areas like agriculture policies, export and import policies, and food parks to boost the growth of the industry. Annapoorna World of Food India 2018 is a great platform which gives an opportunity to connect with all the stakeholders and explore various possibilities of growth,” he said.
The three-day event is being attended by buyers and sellers from 30 countries with 297 exhibitors showcasing the latest technologies and trends in the food and beverage industry. fiinews.com