Union Minister for Food Processing Industries, Harsimrat Kaur Badal thanked the Finance Minister for approving and announcing the policy of 100 per cent FDI in marketing of food products produced and manufactured in India in the General Budget, 2016-17. This will provide impetus to the foreign investment in food processing sector, benefit farmers immensely and will create employment opportunities.
Interacting with the media to apprise them about the initiatives relating to food processing in the Union Budget, Badal said that this step will lead to creation of ‘Swadeshi’ infrastructure with ‘Videshi’ money. This will help farmers get remunerative prices for their produce, transfer of technology and modern agricultural practices required for producing agricultural produce on a large scale to meet the requirements of organised marketing.
A unified agriculture marketing e-platform will be set up which will bring markets to the doorstep of farmers. This coupled with 100 per cent FDI in marketing of food products produced and manufactured in India would result in big buyers reaching out to farmers for their agri-horti produce.
100 per cent FDI will bring in higher efficiencies in food processing industry and trade, and will make our food products more competitive in international markets.