March 1, 2016 7:56 PM

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Govt mulling proposal to allow 100% FDI in multi-brand retail for food products

A proposal is under consideration of the government to allow 100 per cent foreign direct investment in multi-brand retail of food and food products produced and manufactured in the country. In a written reply in Lok Sabha today, the Minister of State for Food Processing Industries Sadhvi Niranjan Jyoti said the objective of the proposal is to enable big multinational retail chains in the food and food processing sector create back-end infrastructure and bring in latest technology to the farm sector. She said this would increase the level of food processing in the country, reduce wastage, control food inflation, create employment opportunities and increase income of farmers.

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