FDI in food marketing to boost India’s food processing industry – minister

India’s Food Processing Minister Harsimrat Kaur Badal said that the decision to allow 100 percent foreign direct investment (FDI) in multi-brand marketing for food grown and processed in India will act as a catalyst for the country’s food processing.

Badal, speaking an investor conference, said that only around 10 percent of the foodgrains produced in India were processed, while the number was sharply higher in developed countries.

She expressed the hope that allowing 100 percent FDI in multi brand retail with 100 percent local sourcing condition will enable greater FDI that will result in a faster growth for the sector. 

Expansion of the food processing industry would also reduce the level of food grain wastage, which is estimated at around Rs.92,000 crore, uplift the condition of farmers and create more jobs, she said.

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