Question: How much percentage FDI is allowed by Government of India for trading including through e-commerce, in respect of food products manufactured or produced in India?
(a) 100%
(b) 49%
(c) 26%
(d) None of the above
Ans:(a)
Related facts:
- On 2 January 2017 Ministry of Food Processing Industries published its Year End Review – 2016.
- Following are the major highlights:
- Government has allowed 100% FDI for trading including through e-commerce, in respect of food products manufactured or produced in India.
- 100% FDI is already permitted in manufacturing of food products through automatic route.
- Reduction in Excise Duty on Refrigerated Containers from 12.5% to 6%.
- Reduction in Basic Custom Duty on Refrigerated Containers from 10% to 5%.
- The Indus Mega Food Park, Khargone (Madhya Pradesh); Jharkhand Mega Food Park Ranchi (Jharkhand), and Jangipur Bengal Mega Food Park, Murshidabad (West Bengal) were made operational and inaugurated.
- Foundation Stone of Punjab Agro Industries Corporation (PAIC) Mega Food Park Project in Ludhiana was laid.
- As such, 8 Mega Food Parks have been made operational so far.
- The Mega Food Park projects at Satara (Maharashtra), Ajmer (Rajasthan), Rayagada (Odisha) and Agartala (Tripura) are at advanced stage for operationalisation by the end of current financial year.
- 20 projects have been operationalised in 2016. With their operationalisation, Ministry has created an additional capacity of 0.63 lakh metric tonnes of cold storage, 15 metric tonnes per hour of individual Quick Freezing (IQF), 10.65 lakh litres per day of Milk of processing/ storage and 99 reefer vans during 2016.
- The National Institute of Food Technology, Entrepreneurship and Management (NIFTEM) at Kundli, Sonepat, Haryana and Indian Institute of Crop Processing Technology (IICPT) at Thanjavur, Tamil Nadu are being developed by the Government as the Centres of Excellence.
- The pass-outs of these institutes have got 100% placements.
- The Ministry is also taking steps to implement a new scheme namely Scheme for Agro-Marine produce Processing and Development of Agro-clusters (SAMPADA) for overall development of food processing sector, for providing enabling infrastructure, expanding processing and preservation capacities, controlled temperature logistics and backward and forward linkages.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=156058