“Ready for exports and foreign investments”
Union Cabinet Minister Harsimrat Kaur Badal wants India’s food ...
Union Cabinet Minister Harsimrat Kaur Badal wants India’s food processing industry to capture the massive export opportunity which will occur on the back of Covid-19 triggered shift in global trade. Accordingly, the Minister of Food Processing has been busy strategizing India’s game plan to enhance exports along with smoothening the way for increased foreign capital and gearing-up the industry to deal with the bumper harvest during the lockdown period.
In an exclusive interview to IANS, the Minister said: “The Covid 19 crisis opens up huge opportunities for Indian products to capture a major share of exports given the anti-China sentiment permeating global relations in trade.” “In the medium term, the sector is bound to witness an inflow of large investments and my ministry will ensure necessary assistance for any investment interests through its dedicated ‘Investment Facilitation Cell’.”
At present, 100 per cent FDI under automatic route is permitted for the food processing sector in India. Similarly, 100 per cent FDI is also allowed for trading, including through e-commerce, in respect of food products manufactured and produced in India, under Government approval route.