13 February , 2020 Fdiindia
India Receives USD 463.44 mn FDI in Food Processing Sector in April-Sep FY 20: Govt
Earlier this week, the government informed the Parliament that India was the recipient of foreign direct investment or FDI worth USD 464.444 million in the food processing sector in the first half of the current fiscal year.
During the entire fiscal year of 2018-19, the country had received USD 628.24 million FDI in the food processing sector and in the FY 2017-18 the FDI amounted to a total of 904.90 million, it added.
As per current foreign direct investment norms, 100 per cent FDI is allowed, subject to sectoral rules and regulations, in the manufacturing of food products under automatic route. 100 per cent FDI is also permitted through the approval or government route in retail trade sector in respect of food products produced or manufactured in India.
Rameswar Tali, Minister of State for Food Processing Industries, while presenting the data before the Lok Sabha saif that India has received USD 464.44 million foreign direct investment in the food processing sector during the period of April to September (2019-20).
"...in April-June 2019 quarter, the FDI equity inflow was USD 329.04 million which is higher than the quarter ending September 2019 at USD 134.40 million," he added.
Maximum FDI of USD 244.95 million in the first part of the fiscal year was made in Tamil Nadu and Puducherry. This figure was followed by Maharasthra, Dadra and Nagar Haveli and Daman and Diu with by USD 25.08 million. Delhi and part of Uttar Pradesh and Haryana made USD 22.99 million.
He also said that the government of India has reviewed and revised the operational guidelines of Scheme for Creation/Expansion of Food Processing & Preservation Capacities (CEFPPC) under the Pradhan Mantri Kisan Sampada Yojana (PMKSY) and notified on January 8 this year.