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Budget 2016: 100% FDI to be allowed in food products in India

agriculture newsIn a landmark liberalizing policy in the sensitive multi-brand retail sector, India on Monday allowed 100% foreign investment in processed food retailing provided they are manufactured in India that will help retailers such as Marks & Spencer, Tesco, Walmart and IKEA to set up food-only retail outlets.

A senior official at the Ministry of Food Processing and a top commerce ministry official confirmed that move would allow overseas investment in food multi-brand retailing that Minister of Food Processing Industries Harsimrat Kaur Badal had been advocating for in recent months. Read More

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