Minister: India’s food processing industry could treble in size

That is according to Harsimrat Kaur Badal, the dynamic minister for food processing industries, at an address to the Confederation of Indian Industry in Delhi. The industry is currently valued at some INR1.5tr (US$22.4bn).

She identified retailers, processors and manufacturers as key drivers for growth of the industry at a time when India is getting set to become the fastest growing global economy. 

To boost current industry growth, Badal said that her department would priorities ease of doing business and promote investor-friendly policies in a bid to attract foreign direct investment in the food industry.

Speaking after recent lobbying visits to Britain and Italy, she said that companies around were now viewing India as the global food factory.

This viewpoint, according to Ramesh Abhishek, secretary of the Department of Industrial Policy and Promotion, has placed food processing at the centre of the Modi government’s flagship “Make in India” campaign to promote local manufacturing. It also swayed the administration’s decision to introduce full foreign direct investment in the traditional and e-commerce sales of food manufactured in India.

Abhishek said the policy would leverage India’s strong food production base and provide substantial impetus for investment, employment and job creation in the processing industry.