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MoFPI expects Govt to decide on sale of food & non-food products soon
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Saturday, 13 May, 2017, 08 : 00 AM [IST]
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Ashwani Maindola, New Delhi
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The Ministry of Food Processing Industries (MoFPI) expects that the government will take a decision on selling non-food products alongside food products under one roof soon.
According to sources, the decision could propel the growth of the sector and an investment worth around $10 billion is expected to come.
It is learnt that Harsimrat Kaur Badal, minister of food processing industries met prime minster Narendra Modi recently to discuss the various issues pertaining to the sector.
She has been touring several countries to invite investors to invest into the sector after the government opens the sector to 100 per cent foreign direct investment (FDI) in food retail, which has huge potential.
However, the companies suggested that Badal permit the sale of non-food products like personal care products to make the model more feasible.
The primary focus is World Food Summit, scheduled to take place in New Delhi later this year, According to sources, MoFPI wants every policy-related matter to be in place so that all the investors’ queries would be resolved.
The ministry stated that companies like Amazon and Grofers have already conveyed their decision to invest into the sector. And the investors and investment will only go up if the policies are put in place in the next couple of months.
It is pertinent to mention here that recently, MoFPI has come up with a series of policies like the National Food Processing Policy to have an integrated approach towards the food processing sector, covering every aspect from farmgate to market and everything in between.
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