India has approved 100% foreign direct investment (FDI) in the food and beverage sector, permitting full foreign ownership and management of enterprises, Commerce and Industry Minister Piyush Goyal announced.
“The government will sanction speedy and easy work permits for those who want to work in such enterprises or set up food and beverage businesses in India,” Goyal stated.
The Minister set a target of $100 billion in exports from the combined food and beverage, agriculture, and marine sectors over the next five years.
Goyal highlighted the government’s focus on sustainable farming and organic food production. The Ministry of Commerce and Industry is prioritising sustainable farming practices and promoting organic farming to enhance food production.
“The government has eased the certification processes for organic foods while maintaining their sanctity and traceability to ensure that no irregularities creep into the system,” Goyal added.
India’s food, beverage, agricultural, and marine exports reached $50 billion last year.
