Government allows 100% FDI for online grocery startups

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In a boost to retailers and grocery startups such as Bigbasket and Grofers, the government on Monday allowed 100% FDI in food retail, including through e-commerce, provided such items are produced, processed or manufactured in the country.

“The decision by the government to allow up to 100% foreign direct investment (FDI) through FIPB in marketing of food products produced or manufactured in India, including through e-commerce, is very progressive and will help in reducing wastage, helping farm diversification and encourage industry to produce locally within the country.

Read the full Article at: http://timesofindia.indiatimes.com/deals/-ma/govt-allow-100-FDI-grocery-startup/articleshow/52849056.cms

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