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Commerce and Industry Minister Nirmala Sitharaman in a written reply in Rajya Sabha on Wednesday said separate data regarding investment made by foreign companies in Small and Medium Enterprises (SMEs) is not maintained but remittance-wise data is available in public domain at the website of Department of Industrial Policy & Promotion at www.dipp.nic.
Foreign Investments bring international best practices and latest technologies leading to economic growth in the country and providing much needed impetus to manufacturing sector and job creation in India, said the minister.
To boost the manufacturing sector and give impetus to the ‘Make in India’ initiative, the Government of India has permitted a manufacturer to sell its product through wholesale and or retail, including through e-commerce under automatic route, she noted.
For the benefit of SME sector, provisions have been provided for FDI in retail trading sector. For retail trading of single brand products, in respect of proposals involving foreign investment beyond 51%, sourcing within India of 30% of the value of goods purchased has been mandatory, preferably from MSMEs, village and cottage industries, artisans and craftsmen, in all sectors, she said.
With a view to benefit farmers and to push the food processing industry, 100% FDI under Government route for trading, including through e-commerce, has been permitted in respect of food products manufactured and or produced in India, she informed the House.
