Investment of Asean and Taiwan in India’s Food Processing Sector
27 July 2022, New Delhi: The following Memorandum of Cooperation (MoC)/ Memorandum of Understanding (MoU) have been signed with Japan, Italy, Vietnam and Taiwan:
- An MoC has been signed between Ministry of Food Processing Industries, GoI, and Ministry of Agriculture, Forestry and Fisheries, Japan for promotion of investment in the food processing sector including cold chain.
- An MoU has been signed between Ministry of Food Processing Industries, GoI and Italy to enhance cooperation in the field of food processing to promote capacity building, skill development, exploring market potential, supply of advanced food processing technologies etc.
- An MoU has been signed between the Bureau of Indian Standards of India and the Directorate for Standard, Metrology and Quality of Vietnam for Cooperation in the fields of Standardization and Conformity Assessment.
- An MoU has been signed between Ministry of Agriculture &Farmers’ Welfare and Taipei Economic & Cultural Centre, Taiwan for effective cooperation in the field of agriculture, horticulture, animal husbandry, fisheries, aqua culture and food processing fields.
100% Foreign Direct Investment (FDI) is permitted under the automatic route for the food processing sector. Details of FDI in Food Processing sector from ASEAN countries and Taiwan for the last three years are as under: –
(in US $ million)