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US firm to invest $4.7 million in food processing
In spite of the imposition of US sanctions Herbalife Corporation, a $1.8 billion US based company is planning to invest in the Indian food processing sector by September. Herbalife India Ltd is a 76:24 joint venture between Herbalife and a group of NRIs. The company that is expected to invest $4.7 million initially said they would not be affected by the banking restrictions imposed on US firms doing business in India.