FICCI: New Industrial Policy to Encompass Artificial Intelligence, IoT Technologies to Open New Vistas for Investments

MUMBAI, September 27, 2018 /PRNewswire/ --

~ Government to relax FDI regulations in food processing sector ~ 

In a bid to give a fillip to industry and an impetus to trade and industry, the government is expected to announce a new industrial policy soon. The proposed policy will encompass the use of new technologies such as Artificial Intelligence and IoT which will open new avenues for investments in India.

Speaking at the 13th edition of 'Annapoorna World of Food India 2018', organized by FICCI in association with Koelnmesse GmBH, Mr Rajiv Aggarwal, Joint Secretary, Department of Industrial Policy and Promotion,  Ministry of Commerce and Industry, Government of India, said, "The Food Processing Sector is one of the emerging sectors in our country. The government of India's policy regime and robust business environment have ensured that foreign capital keeps flowing into the country. The government will relax FDI regulations to give a boost to the Food Processing Sector."

While sharing his views via a video message Mr. Suresh Prabhu, Minister for Commerce and Industry, Government of India, stated, "India produces 600 million tonnes of agriculture and horticulture products. We are working on different areas like agriculture policies, export and import policies, and food parks to boost the growth of the industry. Annapoorna World of Food India 2018 is a great platform, which gives an opportunity to connect with all the stakeholders and explore various possibilities of growth."

The three-day event is being attended by buyers and sellers from 30 countries with 297 exhibitors showcasing the latest technologies and trends in the food and beverage industry and 7,000 scheduled B2B meetings are to be held. The special seminars during the event will focus on the emerging trends and investment opportunities in Indian Food Processing Sector.

Mr. L N Gupta, Additional Chief Secretary, Department of MSME, Government of Odisha and Dr. Satyanand, Commissioner, Horticulture, Government of Madhya Pradesh, also shared details on the trade and investment opportunities in their respective states and urged the industry to exploit the potential.

About Federation of Indian Chambers of Commerce & Industry (FICCI):

A non-government, not-for-profit organisation, FICCI is the voice of India's business and industry. From influencing policy to encouraging debate, engaging with policy makers and civil society, FICCI articulates the views and concerns of industry. It serves its members from the Indian private and public corporate sectors and multinational companies, drawing its strength from diverse regional chambers of commerce and industry across states, reaching out to over 2,50,000 companies. Further information is available at: http://ficci.in.

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