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The Indian food processing industry accounts for 32 percent of the country’s total food market. The industry is confident for huge growth in its contribution to world food trade and GDP of India. In India, food sector has emerged as a high growth and high-profit sector because of the immense potential of value addition in food processing industry.
The Government of India has been instrumental in the growth and development of the food processing industry. Ministry of Food Processing Industries (MoFPI) is making all efforts to encourage investments in the business. Proposals to have joint ventures with domestic and foreign collaborations for fully export-oriented units have made for the development of the industry. Government policies such as 100% FDI under automatic route and setting up of National Mission on Food Processing (NMFP) are expected to turn the industry into a global export hub.
Presently, Indian exporters are gaining from rising global demand for processed food. Improvements in product and packaging quality are the major reasons of the growing demand. The USA is the top destination of processed food products from India.
Agricultural and processed food products export development authority (APEDA) was established by the government of India to undertake research surveys, provide financial assistance and other relief through subsidy schemes. There is a huge variety of products under the net of APEDA. It includes: 1. Fruits, vegetable and their products.
2. Meat and meat products.
3. Poultry, Dairy and their products.
4. Biscuit, Confectionery. and other Bakery products.
5. Honey, Jaggery and other sugar products.
6. Chocolates, coffee, cocoa, and their products.
7. Beverages; alcoholic or non-alcoholic.
8. Cereals and related products.
9. Floriculture products.
10. Medicinal and herbal edible plants.
11. Dry fruits; almonds, walnuts, groundnuts and their products, etc.
The body is responsible for enhancing and improve the marketing of the products outside India. In addition to it, research in other export-oriented products is to be done to increase the trade profit through this industry.
Online food ordering business in India is in its growth stage and has a wide scope. More organized food industrial operations are expected with the availability of online food delivery players like ‘Foodpanda, little App, zomato. The online food business has a huge potential. This is evident with the fact that some major private global players (M & M, ITC limited, Swiggy, HFHS, and Pure Circle) are looking for more opportunities in Indian food processing industry.
Moreover, India has the locational advantage as geographically it is close to many export destinations (East African countries, Middle east, South East Asia, etc.) and proximity to food importing nations. The abundant availability of raw material, cheap labor, combined with technology and expertise of foreign players has the potential to transform the Indian Food Industry. The benefits to the farmer and overall economy would be substantial.
Food processing is a sunrise industry. It gives high employment opportunities especially to women in urban and rural areas. Further, it will lead to the creation of ‘Swadeshi’ infrastructure with ‘Videshi’ money.
In the end, hazard risk management, timely availability of inputs, good manufacturing and hygienic practices by the food processing industry will explore new or bigger market. The industry would be more capable of facing global competition through enhanced quality standards and proper packaging and branding of products that will lead to higher acceptance by overseas buyers. Therefore the industry needs to adopt the latest technology to inject greater efficiency which could provide economies of scale and cost effectiveness.
By: Anubhav Puri ProfileResourcesReport error
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