FDI of at least $10 bn waiting for right signal, says Harsimrat Kaur Badal

Funds to come if 'food plus' is allowed

Karan Choudhury & Sanjeeb Mukherjee  |  New Delhi 

The country could be looking at an initial investment of more than $10 billion (Rs 65,000 crore), if the government gives a final nod to desired changes in foreign direct investment (FDI) in retailing. The changes in question would allow global retailers to sell a percentage of non-food items, said Union food processing minister Harsimrat Kaur Badal. "It would be at least $10 bn initial investment if 'food plus' gets the final nod. Not just for India; we have the UAE and Japan planning on making in India and taking it to their country. Before (the) ...

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FDI of at least $10 bn waiting for right signal, says Harsimrat Kaur Badal

Funds to come if 'food plus' is allowed

The country could be looking at initial investment of more than $10 billion (Rs 65,000 crore), if the government gives a final nod to desired changes in foreign direct investment (FDI) in retailing.The changes in question would allow global retailers to sell a percentage of non-food items, said Union food processing minister Harsimrat Kaur Badal. "It would be at least $10 bn initial investment if 'food plus' gets the final nod. Not just for India; we have the UAE and Japan planning on making in India and taking it to their country. Before (the) 'World Food India' (event, scheduled for September), a lot of things might just get tied up," she hopes.The ministry of food processing industries (MoFPI) hopes some of these decisions would be taken by the year-end. Badal stresses the 'food plus' component in the policy on FDI in retailing suggested by her ministry would not a backdoor entry for multinational entities such as Walmart, Tesco or Auchan. She said global retailers would only be ... The country could be looking at an initial investment of more than $10 billion (Rs 65,000 crore), if the government gives a final nod to desired changes in foreign direct investment (FDI) in retailing. The changes in question would allow global retailers to sell a percentage of non-food items, said Union food processing minister Harsimrat Kaur Badal. "It would be at least $10 bn initial investment if 'food plus' gets the final nod. Not just for India; we have the UAE and Japan planning on making in India and taking it to their country. Before (the) ... image
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