India

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

By RJ Whitehead

- Last updated on GMT

© iStock
© iStock

Related tags: Foreign direct investment, Industry

India’s food processing industry is likely to treble in size over the coming years, with international manufacturers starting to see the Asian giant as a “global food factory”.

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.

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2 comments

Indian Food Processing Industry

Posted by Dr MM Prasad,

With a population of more than 1.28 billions amounting to every sixth person walking on this planet being Indian the food industry in India when tapped in unit time and space, the deliverables will be far beyond imagination. For instance the scope of fish processing industry alone is INR 5tr as projected by the traders.

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Specific foods

Posted by Om M Alreja,

India must process generic foods RTC/RTE, snack food and open avenues for marketing them is foreign shores.

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