Govt is ready to reconsider GST on FMCG: Sadhvi Niranjan Jyoti, MoS, Food Processing Industry
17 October, 2017
The govt is ready to reconsider GST on FMCG stated the MoS, Food Processing Industries - Sadhvi Niranjan Jyoti. India is set to hold its first international seminar on food processing next month as it eyes foreign investment to develop the local industry. The government has already opened up the industry for 100 percent FDI. “For the first time, an international seminar on food processing is being held on November 3-5,” said Sadhvi Niranjan Jyoti, minister of state for food processing industries while addressing Assocham’s 3rd National Summit and Awards Function, FMCG 2017. She hoped the forthcoming event will generate some beneficial ideas for the sector. The minister said that the industry should directly buy raw materials from farmers. This way, farmers would get a better price while the industry will save on costs, she added. Delivering the keynote address at the event, Pawan Kumar Agarwal, CEO, Food Safety and Standards Authority of India (FSSAI), said, “The FSSAI is working closely with the industry. We have to go a long way to figure it out how to educate consumers about food safety.” He stated, “Our effort is to provide light-touch regulations, but equally important is ensuring that compliance is made in letter and spirit.” “While one-size-fits-all formula cannot be applied to the industry, competitive pricing and superior quality are not negotiable,” said Anil Rajput, Sr Vice President, ITC. “The FMCG industry is poised for growth and efficient supply will become a differentiator,” said Mudit Garg, Business Unit Head, Miebach Consulting. He also said that efficient transport infrastructure will improve speed, reach and quality of deliveries to end customers.