Monday, July 13th, 2020

100% FDI for Cold Storage Facilties on Automatic Route

INVC,, Delhi,, In view of growth in production of perishable agricultural products, there is a need for creation of additional cold storage facilities in the country. Assistance is provided to entrepreneurs in setting up of new cold storage facilities in the country through the schemes of National Horticulture Mission (NHM), National Horticulture Board (NHB), Technology Mission for Integrated Development of Horticulture in North Eastern States, Sikkim, J&K, Himachal Pradesh and Uttarakhand (TMNE), National Cooperative Development Corporation (NCDC), Agricultural and Processed Food Products Export Development Authority (APEDA) and Ministry of Food Processing Industries (MFPI). As per extant FDI Policy, 100% FDI is permitted on automatic route in cold storage. The Government has decided to establish the National Centre for Cold Chain Development (NCCD) as an autonomous centre of excellence in association with the industry and other Stakeholders for development of cold chain in India, for which funding through National Horticulture Board (NHB) to the extent of Rs.25.00 crore has been proposed. This information was given by Prof. K.V. Thomas, Minister of State for Agriculture, Consumer Affairs, Food and Public Distribution

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