India opens door to usher FDI in food processing sector

India has asked US companies to take advantage of its liberalised foreign investment rules, excellent infrastructure and improving business environment while pitching for foreign direct investment in the food processing sector.

A team of Indian officials led by Jagdish Prasad Meena, Special Secretary in the Ministry of Food Processing Industries began their two-day trip to Midwest from Chicago on Wednesday while holding meetings with high-level officials from several Chicagoland food services, logistics and restaurant companies.

As the meeting went on, Meena asked them to take advantage of India's liberalised foreign investment rules, readymade infrastructure and brilliant business climate, the Indian Consulate in Chicago said in a statement.

During his trip to Chicago, Meena will meet with Potbelly, headquartered in downtown Chicago, and Mondelez,which has a bakery in the Chicago Lawn neighborhood.

Further, meetings have also been scheduled with Sensient, Griffith Foods, and Ingredion among others. The Indian government has significantly liberalised FDI regulations, apart from allowing 100 per cent FDI in manufacturingof food products and 100 per cent FDI in trading including e-commerce in food products manufactured and produced in India.

India has undertaken several national and state-levelprogrammes to improve the nation's standing in the World Bank's annual Ease of Doing Business Index, the Consulate said.

From November 3 to 5, New Delhi will host the World Food India 2017, a first-of-its-kind mega-scale event showcasing the large agricultural or horticultural produce base of India and its huge young population, providing a ready market and immense investment opportunities for the entire foodprocessing and food retail sector.

Leading US companies have been invited to learn about India'sproactive policies and profitable opportunities availableacross the entire food processing and food retail value chain.

With PTI inputs