March 27, 2016 12:23 PM

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Detailed norms on FDI in food processing soon: Nirmala Sitharaman

Union Commerce and Industry Minister Nirmala Sitharaman has said, the Government will soon come out with detailed norms to operationalise 100 per cent FDI in the food processing sector. During an interview to PTI, she pointed out that the move will help farmers in getting good prices of their produce. It will also help in eliminating wastage of food produce, she said.<br/><br/>The minister said, there are a lot of people who are interested in putting funds for creating value addition in the agricultural produce.<br/><br/>Last month, finance minister Arun Jaitley in his Budget, had proposed allowing 100 per cent foreign direct investment in marketing and processing of food products. Jaitley had said the move will benefit farmers, give an impetus to the food processing industry and create vast employment opportunities.<br/><br/>During April-December last year, FDI into the country grew by 40 percent to 29.44 billion dollars.

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