The government is hopeful that investments from Walmart will help build the required infrastructure in the food processing sector. Walmart was one of the companies whose views were sought at the time of drafting the recent changes to the FDI policy in the food processing sector. In an earlier conversation with ET, Walmart India spokesperson Rajneesh Kumar had described the FDI policy as "very progressive". Government is mobilising the credit support to food processing sector through Rs 2,000 crore special fund created in National Bank for Agriculture and Rural Development (NABARD). The fund has been set up to provide loans of up to Rs 100 crore at a concessional rate of 8-9%.

Source: Economic Times August 17, 2016 15:00 UTC