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.
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