Business friendly policies, key initiatives and a series of reforms have put India on the global map as one of the fastest growing economies. The country is also one of the most attractive investment destinations in the world. Here’s a look at the top reasons to invest in India in the Food Processing Industry.
- 100% Income Tax Deductions:
- On capital expenditure for cold chain/warehouse.
- On profit for new food processing, preservation and packaging units.
- Service Tax Exemptions:
- On pre-conditioning, pre-cooling, ripening, waxing, retail, packing, labeling of fruits & vegetables
- On construction, erection, commissioning or installation of post-harvest storage infrastructure/cold storages.
- Excise Duty Reductions:
- 10% to 6% on machinery for food processing
- 12.5% to 6% on refrigerated containers.
- Basic custom duty reduced on refrigerated containers from 10% to 5%.
- Concessional customs duty on imported equipments for food processing.