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Foreign investment in food processing up 44% to $904 mn in 2019-20 The sector had received FDI worth $628.24 million in 2018-19Foreign investment in food processing up 44% to $904 mn in 2019-20
The sector had received FDI worth $628.24 million in 2018-19
foreign investment | Food production | Food processing industry
BS Web Team & PTI | New Delhi
Last Updated at June 11, 2020 21:58 IST
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Foreign direct investment (FDI) in the food processing sector rose 44 per cent to $904.7 million in the financial year 2019-20, according to government data.
The sector had received FDI worth $628.24 million in 2018-19 and $904.90 million in the financial year 2017-18.
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"With 100 per cent FDI allowed by GOI (Government of India) & ease of doing business, India's food processing sector attracted global investors as it received FDI inflows worth $904.70 mn in the 2019-20 (up by 44 per cent over 2018-19)," the food processing ministry said in a tweet.
Currently, 100 per cent FDI in the food processing sector is allowed through the automatic route. In 2016, the Centre allowed 100 per cent FDI through the approval route for retail trading, including through e-commerce, in respect of food products manufactured and produced in India.