Indian Food Industry – Blossoming with Growth
The food industry in India, currently valued at US$ 39.71 billion, is expected to grow at a CAGR of 11 per cent to US$65.4 billion by 2018. India’s food & grocery market is the 6th largest in the world. The Indian food processing industry accounts for 32 % of the country’s total food market & 14 % of the manufacturing GDP.
42 mega food parks being set up with investment worth INR 98 Billion.
India ranks No. 1 in the production of – spices, pulses, milk, tea, cashew, mango, banana & grapes.
India ranks No. 2 in the production of – wheat, rice, fruits & vegetables, sugarcane, cotton and oilseeds.
Opportunities in supply chain management, contract farming, cold storage development, food processing & packaging etc.
Union Budget 2016-17 has proposed 100 per cent FDI through FIPB (Foreign Investment Promotion Board) route in marketing of food products produced and manufactured in India.