Though FDI in multi-brand retail was allowed in India during UPA II regime, BJP government is against it so no foreign investor has applied for it since the Modi government has come to power. Ms Badal said the government’s new FDI policy is very “attractive” and is generating huge interest among investors.It is in line with Modi government vision to double farmers income by 2022 by boosting farming and allied activities.
Some foreign retailers have demanded that India should allow sale of home and personal care products. Amazon has now decided to get into e-retail of food.She said Grofers and Big Basket have also submitted FDI proposals for undertaking retail trading of Soft waffle forming Machine Factory food products.23 million worth of FDI equity inflows. Amazon has decided to invest close to 500 million in the food retail sector.
US based e-commerce giant Amazon has proposed to invest around 500 million for e-retail of food products in India, food processing minister Harsimrat Kaur Badal said on Thursday.While the BJP government is against FDI in multi-brand retail, it has allowed it in processed food retail to increase processed food production in theorganised sector in the country. In 2016-17 (April-December), the food processing sector in the country has received 663.76 billion in FDI equity inflows from 2010-11 to 2015-16. end-of Tags: amazon, harsimrat kaur badal, e-commerce.The food processing sector received 5.Last year Modi government had allowed 100 per cent foreign direct investment for marketing, including through e-commerce, of food products manufactured and produced in India. Metro Cash & Carry too has shown interest in food retailingOn allowing non-food products also be sold along with food products in the FDI policy, minister said the government will take a decision on this issue soon.
E-retail market is growing at a fast pace and is set to treble by 2020, the minister said. We have got some good news.“We are excited about the opening of FDI in food retailing.“We allowed 100 per cent FDI in trading of food products last year. It is a good news for the country,” said Ms Badal. We have submitted an application for approvals,” Amazon’s director, public policy Avinash Ramachandra said