Govt will soon come out with detailed standards to operationalise the determination to permit 100 per-cent foreign direct investment (FDI) in the sector of food processing.
The FDI in food processing sector, Commerce & Industry Minister Mrs. Nirmala Sitharaman said that, this will help farmers in getting good prices of their produce besides eradicating wastage of food produce.
“There is a lot of food being wasted in the country because there are no storage capacities. Wastage is there because timely procurement does not happen,” she told in an interview. The minister said that, “there are a lot of people who are interested in giving funds for creating value addition in agricultural production.
Hence, if FDI is granted, they can come, procure from the farmers, give him a fair price, do value addition & avoid wastage of production”.