Investment Facilitation Cell handholds investors, says Teli
The Government has allowed 100% FDI under the automatic route in the food-processing sector which recorded US$904.7 million commitment in 2019-20, up from US$628.24 million in 2018-19.
The Ministry of Food Processing Industries has also set up a dedicated Investment Facilitation Cell with Invest India to facilitate all investment interests received in the food processing sector, Rajya Sabha was told on 12 Feb 2021.
The Cell handholds investors throughout the investment phases in a structured manner by providing relevant sectoral & sub-sectoral information, assisting with regulatory requirements, location assessment, applicable policies and schemes among, said the Minister of State for Food Processing Industries, Rameswar Teli in a written reply in the Rajya Sabha.
The reforms and policy measures initiated by the Government had a positive impact on FDI inflows into the country.
As per the World Investment Report 2020 of United Nations Conference on Trade and Development (UNCTAD), India’s position among top economies attracting FDI inflows has improved to 9th position in 2019 from 12th in 2018.
India registered its highest ever FDI inflows of US$74.39 billion (provisional) during 2019-20.
Even during the Covid pandemic between April and November 2020, a total FDI inflows of US$58.37 billion has been received, he said.
The intent is to make the FDI policy more investor friendly and remove the policy bottlenecks that have been hindering the investment inflows into the country. #investment #banks #projects #agriculture /fiinews.com
