Industry and associations have shared different points of view at a meeting convened by the Ministry of Commerce and Industry in which issues related to foreign direct investment (FDI) in the tobacco sector have been addressed.
The meeting was chaired Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek here.
To this day, FDI is prohibited in the manufacture of cigarettes, cigarettes and tobacco substitutes. But it is allowed in the technological industry of any kind, which include franchise, trademark, trademark and management contracts in the tobacco sector.
Krishan Kumar Modi, Chairman, Modi Enterprises said the current FDI policy in the sector should continue without any change.
“There is no need to bring (FDI) restrictions because other countries will also put restrictions and we will be a major exporter of such products,” he said after the meeting.