Indian Food Industry – An Overview
India’s food & grocery market is the 6th largest in the world. Indian food sector is a high-growth sector with immense potential for value addition. It’s expected to touch US$ 482 billion by 2020. The Indian food processing industry accounts for 32 % of the country’s total food market & 14 % of the manufacturing GDP. CII estimates that the food processing sectors have the potential to attract USD 33 billion investment in next 10 years.
- During 2011-15, Indian Exports in this sector increased at a CAGR of 23.3 % to USD 21.5 Billion.
- Foreign Investment to the tune of USD 6.21 billion received during 2000-2015.
- Indian food service industry is expected to reach US$ 78 billion by 2018.
- 192 Million Hectares of gross cropped area & 127 identified agro-climactic zones.
- 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.
- Extensive network of food processing training, academic and research institutes being setup.
- Adoption of International food safety & quality assurance standards such as TQM, ISO, HACCP, GMP, GHP etc.
- Large agricultural sector, abundant livestock and cost competitiveness.
- Consumption driven towards packaged & ready-to-eat foods.
- Industry friendly “Make in India” scheme of the Govt. of India.
- Opportunities in supply chain management, contract farming, cold storage development, food processing & packaging etc.