Grofers seeks for government’s approval for FDI in food trading

Union Minister Harsimrat Kaur Badal has said India's food processing industry is expected to treble in coming years on the back of a higher economic growth.
  • Franchise India Team Editor
Restaurant India

Grofers, an online grocery delivery startup, has now scouted for government’s nod for Foreign Direct Investment (FDI) to carry out trading in food products. The move came right after government of India recently allowed 100 per cent FDI under government approval for trading, including through e-commerce, in respect of food products manufactured or produced in India.

As per the information on the website of the Department of Industrial Policy and Promotion (DIPP), Grofers India Pvt Ltd has sought approval "to undertake trading including through e-commerce in food products manufactured and/or produced in India".

Union Minister Harsimrat Kaur Badal has said India's food processing industry is expected to treble in coming years on the back of a higher economic growth. The size of the industry is about Rs 1.5 lakh crore.

The food processing ministry has recently put forth an idea of organizing World Food Summit in 2017. As per the ministry, this summit will act as a single podium for investors, technology solution providers, processors, manufacturers and all other relevant national and international stakeholders.

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