India's food processing market will reach $470 billion by 2025 as a result of the efforts of the Government of India and the Food Processing Industry can play a significant role as the country aspires to be a $5 trillion economy said the Hon’ble Minister of State, Ministry of Food Processing Industries and Jal Shakti, Prahlad Singh Patel.
Speaking at the inaugural session of 16th edition of ANUTEC - International FoodTec India and 15th edition of Annapoorna – ANUFOOD India 2022, the Minister said, “India has emerged as the world's largest producer of spices, the world's largest processor of milk and pulses, the world's second-largest producer of cashew nuts, and consumer cereals, fruits, and vegetables. Food Processing is a rapidly growing sector in India which offers vast opportunities for investment with stimulating growth in the food retail sector. The Ministry of Food Processing Industries (MoFPI) is promoting investment in the food industry in India by taking all necessary steps to promote the sector through favorable economic policies and attractive fiscal incentives. The government has approved 41 Mega Food Parks (MFPs) to be set up in the country under the Mega Food Park scheme and presently 22 Mega Food Parks are in operation.”
He further highlighted that apart from the Rs 4600 crore, additional allocation of Rs 600 crore has been made till March, 2026 under the PMKSY scheme. The ministry is also implementing two more flagship schemes: Production Linked Incentive (PLI) Scheme to modernize and enhance the competitiveness of the food processing industry by manufacturing specific categories of food products which have high potential for growth in production and for a period of six years till 2026-27 be value addition. Additionally, the Prime Minister has formalized the Micro Food Processing Enterprises Scheme (PMFME) to provide financial, technical and commercial assistance for upgradation of existing micro food processing enterprises. As per the latest revision in GST rates, around 73% of the food items are under the minimum tax slab of 0% or 5%. Rs. 2000 crore has been set up in the National Bank for Agriculture and Rural Development (NABARD) to provide loans at affordable rates to promote the food processing sector.
The Minister also released the FICCI-BCG Knowledge Report, ‘Tapping India’s Fodd Processing Potential – A Call to Action.’ He further mentioned that the Tier-II and Tier-III cities may reflect the trends seen in metropolitan areas by consuming more processed food in the coming years.
India's consumer spending will increase to 6 tonnes by 2030. Exports of products under Ready to Eat (RTE), Ready to Cook (RTC), and Ready to Serve (RTS) segments have registered a CAGR of 10.4% from 2011-12 to 2020-21. India exported final food products worth over $2.14 billion in 2020-21. The major destinations of RTE and RTC exports in the 2020-21 figures are the US, UAE, Malaysia and Nepal.
While giving the welcome address, Arun Chawla, director general, FICCI, said, “India’s food ecosystem offers huge opportunities for investments with stimulating growth in the food and retail sector, favourable economic policies, and attractive fiscal incentives. I would like to compliment the Government of India for taking pro-active measures and for the introduction of flagship schemes like Production Linked Incentives and PM Formalisation of Micro food processing Enterprises.”
“We are working on our processes and stringent quality control to amplify the reach of Indian food to the world,” said Raghav Jadli, president, All India Food Processors Association.
The inaugural session, also attended by Dr. Sudhanshu, secretary, APEDA, Ministry of Commerce & Industry, Government of India, John Kingsly, managing director, MPIDC, Government of Madhya Pradesh, concluded with a vote of thanks by Milind Dixit, managing director, Koelnmesse India.
The 15th edition of Annapoorna Anufood 2022 Conference and Exhibition on Food & beverage trade and retail market, is currently on in Mumbai from 14 to 16 September 2022. The three-day conference and exhibition is jointly organized by the Federation of Indian Chambers of Commerce & Industry (FICCI), the Ministry of Food Processing Industries, Government of India with Koelnmesse YA Tradefair with the theme - ‘Indian Food Processing Sector-Opportunity & Challenges’, the symposium will showcase the strength of the food & beverage trade and retail market in the Indian subcontinent and facilitate their worldwide promotion, development and recognition.
Along with the exhibition, Annapoorna Anufood 2022 will provide a platform for panel discussions, round table discussions with industry stalwarts and drive 300+ Exhibitors from 10+ Countries to network with and source business. To address the various opportunities and challenges the event will have Specialized conferences led by industry associations like AIFPA, AFSTI & CASMB, Live Culinary; sessions by professional chefs; Product Launch & Demonstrations; Panel Discussions by Hospitality Purchasing Managers' Forum (HPMF). Additionally, it will also have International pavilions from 7 countries – Australia, Brazil, Italy, Turkey, Indonesia, Peru and Poland and 8 State Partners - Karnataka, Odisha, Maharashtra, Jharkhand, Goa, North East Region, Kerala, Madhya Pradesh. The conference will highlight 10 Sectors covering the spectrum of the food & drink industry: Agri Foods, Fine Food, Dairy, Drinks, Coffee & Tea, Meat, Bread & Bakery, Organic, Halal, Sweet & Snacks.