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India will organise a three-day roadshow in the UK beginning tomorrow to attract foreign direct investment in the food processing sector.
The government recently allowed 100 per cent FDI in multi-brand retail for food products produced and processed in India.
Food Processing Industries Minister Harsimrat Kaur Badal is leading a team of officials to London for the purpose, an official said.
The UK is home to several big players which India can tap, including Tesco, Marks & Spencer (M&S) and Salisbury.
The government has permitted 100 per cent foreign direct investment in trading of food products, including through e-commerce, to provide a boost to the country’s food processing sector.
Food Processing Secretary A K Srivastava had said Walmart, the world’s largest retailer, is keen to retail processed food in India.
The food processing sector received FDI worth $1.04 billion during April 2014 to March 2015.
The industry was valued at $39.71 billion in 2013 and is expected to grow at a CAGR of 11 per cent to $65.4 billion by 2018.
Some of the major investments received in the last two years include Linde Group’s investment of $200 million in the seafood segment in Andhra Pradesh, and the US-based Mondelez International’s new manufacturing plant in the state.
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