$464 mn FDI in Indian food processing in half of FY 20 |
According to the data presented by the government in the Indian parliament on Tuesday, India has received foreign direct investment of $463.44 million in the food processing sector in the first half of the current fiscal year. India had received $628.24 million FDI in the food processing sector during the full fiscal year 2018-19 and $904.90 million during 2017-18. The government has permitted 100 percent FDI through automatic route in manufacturing of food products subject to sectoral rules and regulations. 100 percent FDI is also allowed through government route in retail trade in respect of food products produced/manufactured in India. Placing the data before the Lok Sabha, Minister of State for Food Processing Industries Rameswar Teli said the country has received $463.44 million FDI in the food processing sector during April-September period of 2019-20. He added that in April-June 2019 quarter, the FDI equity inflow was $329.04 million which is higher than the quarter ending September 2019 at $134.40 million. During the first quarter of the fiscal, maximum FDI of $244.95 million was made in Tamil Nadu and Puducherry, followed by $25.08 million in Maharashtra, Dadra and Nagar Haveli and Daman and Diu, while $22.99 million in Delhi and part of Uttar Pradesh and Haryana.
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