Latest News | FDI in Food Processing Rises 44 Pc to USD 904.7 Mn in 2019-20

New Delhi, Jun 11 (PTI) Foreign direct investment (FDI) in the food processing sector rose 44 per cent to USD 904.7 million in the financial year 2019-20, according to government data.

The sector had received FDI worth USD 628.24 million in 2018-19 and USD 904.90 million in the financial year 2017-18.

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"With 100 per cent FDI allowed by GOI (Government of India) & ease of doing business, India's food processing sector attracted global investors as it received FDI inflows worth USD 904.70 mn in the 2019-20 (up by 44 per cent over 2018-19)," the food processing ministry said in a tweet.

Currently, 100 per cent FDI in the food processing sector is allowed through the automatic route. In 2016, the Centre allowed 100 per cent FDI through the approval route for retail trading, including through e-commerce, in respect of food products manufactured and produced in India.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)