NEW DELHI: In a landmark decision, India now permits 100% foreign investment in the food and beverage sector, allowing full foreign ownership and management of enterprises, announced Minister of Commerce and Industry, Piyush Goyal.

“The government will ensure speedy and hassle-free work permits for those setting up or working in foreign-owned food and beverage businesses in India,” Goyal stated. This move aims to bolster India’s position as a global food production hub.

The Minister also unveiled an ambitious target of $100 billion in combined exports from food, beverage, agriculture, and marine industries within the next five years. Last year alone, India exported goods worth $50 billion in these sectors.

A strong emphasis was placed on sustainability. The Ministry of Commerce and Industry is working on making farming more sustainable and promoting organic farming alongside organic food products. Goyal highlighted that certification processes for organic foods have been simplified while ensuring sanctity and traceability to avoid irregularities.

Additionally, Goyal praised the efforts of the Agricultural and Processed Food Products Export Development Authority (APEDA) and the Marine Products Export Development Authority (MPEDA) for driving India’s export achievements.

This policy shift is expected to attract global investors, modernise the industry, and support India’s sustainable food production goals. By streamlining certifications and focusing on organic growth, India aims to strengthen its reputation as a reliable supplier of high-quality food products globally.