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Aug, 03 2017

Govt Approved three proposals for FDI in food retail

The government has granted these permissions for 100 per cent foreign direct investment for retail trading of food products manufactured and/or produced in India

The government has approved three FDI proposals from Amazon Retail, Supermarket Grocery Supplies and Grofers India worth over Rs 3,700 crore for retail trading of food products. While Amazon Retail has proposed investment of Rs 3,500 crore, Supermarket Grocery Supplies has planned Rs 105 crore. Similarly, Grofers India has proposed investments of USD 25 million (over Rs 160 crore). The government has granted these permissions for 100 per cent foreign direct investment for retail trading of food products manufactured and/or produced in India, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha. On the question whether any decision has been taken by the government to allow overseas food retailers to sell personal care and household items made locally, she said: "No such decision has been taken". Replying to a separate question, she said as many as 18,884 complaint calls were received by the national consumer helpline in e-commerce sector during April-June period. In the same period last year, the number was 54,872. Out of the 18,884 complaints, 17,665 were disposed off.

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