Dec 02, 2016 03:44 PM IST | Source: CNBC-TV18

Food Processing Min moves new note to tweak food retail FDI laws

The DIPP has earlier had rejected Food Processing Ministry's plea. The proposal has now been taken up by the PMO.

Food Processing Ministry has moved a fresh note to tweak FDI rules for food retail, say sources. It has sent the note on the proposed changes to the PMO to encourage foreign retailers to invest in non-food items.

The ministry has proposed exemptions for retailers investing in the back-end infrastructure of retail chains. This move is likely to benefit global retail chains like Walmart, Tesco and Carrefour.

The Department Of Industrial Policy and Promotion (DIPP) has earlier rejected Food Processing Ministry's plea. The proposal has now been taken up by the PMO.

Watch video for more.

Sections
Follow us on
Available On