India has already attracted over US$180m in foreign direct investment in the new fiscal year, and has been witnessing growing interest from foreign food companies, according to the food processing minister, Harsimrat Kaur Badal.
A chronic lack of investment and incentives has stalled Indian food product development, according to a report released by the Confederation of Indian Industry (CII).
The Australian Food and Grocery Council (AFGC) has called on fast action to be taken to reform the country’s food processing sector in light of a recently published Senate report.
A top level panel in India has slammed the food processing sector in India for the apparent wastage of food every year due to a lack of the necessary infrastructure in the country's food supply chain.
Around US$30bn worth of investment is needed to “revolutionise” India’s food processing sector to boost the volume of processed products to 10 per cent of overall output by 2015, according to a new report.
The Indian Government has unveiled proposals to double the size of its food processing industry within the next five years by increasing funding and improving technology and infrastructure in the sector.
