India has approved 100 per cent foreign investment in the food and beverage sector, allowing full foreign ownership and complete foreign management of such enterprises, Minister of Commerce and Industry Piyush Goyal announced.
“The government will expedite and simplify work permits for individuals who wish to work in or establish food and beverage businesses in India,” Goyal said in a landmark announcement.
The Minister has set a target of $100 billion in combined exports from India’s food and beverage, agriculture, and marine products industries over the next five years.
Emphasising sustainability in the food industry, Goyal stated that the Ministry of Commerce and Industry is prioritising sustainable farming processes and promoting organic farming and food products. – With Agencies – editor@nrifocus.com
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