India pitches for FDI in food processing industry
Pitching for foreign direct investment in the food processing sector, India has asked the US companies to take advantage of its liberalised foreign investment rules, ready-made infrastructure and improving business environment.
A high-powered team of Indian officials led by Jagdish Prasad Meena, Special Secretary in the Ministry of Food Processing Industries on Tuesday started their two-day trip to Midwest from Chicago holding meetings with high-level officials from several Chicagoland food services, logistics and restaurant companies.
During the meeting, Meena urged them to take advantage of India’s liberalised foreign investment rules, readymade infrastructure and improving ease-of-doing-business climate, the Indian Consulate in Chicago said in a statement.
Given its size and location in the Midwest, Chicago has been the hub of the US food and food processing industry and is home to many of the world’s leading food and agriculture companies.
During his trip here, Meena is scheduled to meet with Potbelly, headquartered in downtown Chicago, and Mondelez, which has a bakery in the Chicago Lawn neighborhood.
Meetings are also scheduled with Sensient, Griffith Foods, and Ingredion among others.
The first of its kind visit of US officials comes as the Narendra Modi government has significantly liberalised FDI regulations, and has allowed 100% FDI in manufacturing of food …read more
