The decision to allow 100 per cent FDI in multi-brand retailing of food products produced and manufactured in India will act as a catalyst for the processing sector, Union Minister Harsimrat Kaur Badal said today.
The minister expressed hope that allowing FDI in multi-brand food retail segment will result in a faster growth of the sector, a statement by the Food Processing Ministry said.
The minister was speaking at the Happening Haryana Global Investors Summit here.
She said that food wastage has been estimated at around Rs 92,000 crore at present in the country and processing can help reduce the level of wastage as well as control inflation, create jobs and uplift the condition of farmers.
She also informed said that the NDA government has taken several initiatives to improve the condition of farmers such as the schemes relating to Fasal Bima Yojana, Organic Farming, E-platform for Mandis.
