FDI worth Rs 70 crore in agriculture during April-June quarter: Sharad Pawar

NEW DELHI: India received foreign direct investment ( FDI) worth Rs 70 crore in the agriculture sector during the April-June quarter of the current fiscal, Parliament was informed today.


"In 12th five year plan (2012-17), FDI inflows of Rs 875 crore in 2012-13, and Rs 70 crore up to June in current (financial) year 2013-14, have been received," Agriculture Minister Sharad Pawar informed the Lok Sabha.

During the entire 11th plan period (2007-12), FDI inflows into agriculture sector amounted to Rs 6,612 crore, he added.

"The investments were made in development and production of seed and planting material, horticulture and nursery services, agriculture machinery, plan protection services, cattle breeding and livestock rearing, cold storage and warehousing," Pawar said.

FDI up to 100 per cent of cap/equity is permitted under the automatic route in the agriculture sector in floriculture, horticulture, apiculture and cultivation of vegetables and mushrooms under controlled conditions, he said.

That apart, production and development of seed and planting material, animal husbandry (including breeding of dogs), pisiculture, aquaculture and services related to agro and allied industries are also included in this cap.

The minister added: "Besides, policy of FDI in multi- brand retail trading (MBRT) provides that at least 50 per cent of the first tranche of USD 100 million shall be invested in back-end infrastructure, which includes construction of warehouses and cold storages."