To attract greater foreign investments in the sector, the Hon'ble Minister of Food Processing Industries of India; Ms. Harsimrat Kaur Badal convened a meeting with various Ambassadors, High Commissioners and senior representatives of leading food producing and retailing countries on August 3, 2016 to apprise them on the recently inducted changes in the FDI policy concerning the sector; 100% FDI in the trading, including e-commerce, in respect of food products manufactured and/or produced in India.
The meeting was well attended and saw presence of senior diplomatic corps from over 18 countries. The Embassy of UAE was represented by Sheikh Saoud Ali Al Mualla, Head – Economic and Media Department.
Engaging discussions ensued as the Indian Minister highlighted the spate of reforms being carried out in India towards ease of doing business, particularly in the food processing sector wherein 100 % FDI in single brand retail, trading and e - commerce has been allowed. She also briefed them about the vast opportunities existing in the 42 Mega Food Parks earmarked in India wherein the foreign investors could set up their units immediately. The Minister assured that the Food Processing Ministry would be extending full support and provide facilitation for all foreign investors who would like to invest in this sector.
The Diplomatic fraternity welcomed the policy initiatives of the Govt. of India and voiced certain concerns faced by the various foreign companies operating in the sector which were duly addressed by the Indian side.
The meeting culminated on a positive note with the participating countries agreeing to work together with the Indian Ministry of Food processing by inviting relevant stakeholders from their respective countries to explore investment opportunities in the sector and take advantage of the huge market access and relaxed policy framework.
Mr. Avinash K. Srivastava, Secretary, Ministry of Food Processing Industries (FPI) ; Mr. J.P. Meena, Additional Secretary, Ministry of FPI; Mr. Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion, Government of India; Mr. Deepak Bagla, Managing Director & CEO, Invest India, to name a few were also present from the Indian Government.