Consider the following statements :
1. Packaging machinery industry, like other industrial machinery is allowed for 100%. FDI under automatic approval.
2. Food processing machinery can be classified under the general category of industrial machinery which is de-licensed under the current industrial policy and qualifies for 100% FDI under automatic approval.
Which of the statements given above is/are correct?

Options

A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2

Answer

C

Explanation

Packaging machinery industry, like other industrial machinery is allowed for 100%. FDI under automatic approval i.e., without prior approval either of the government or the Reserve Bank of India.
Food processing machinery can be classified under the general category of industrial machinery which is de-licensed under the current industrial policy and qualifies for 100% FDI under automatic approval.