What growth opportunities are available for the Indian food processing industry in current economic situation?

India’s food processing sector is one of the largest in the world and its output is expected to reach US$ 535 billion by 2025-26. This sector is expected to generate 9 million jobs by 2024. The Indian food industry is expanding at a CAGR of 11\% and the food processing sector accounts for 32\% of the total food industry.

Why food processing is important for farmers?

THE ASIAN AGE. India produces large amounts of fruits, which is much more than what we consume. By investing in food processing, the industry can play a crucial role in providing better market access and stability for our farmers, who are subjected to the vulnerability posed by nature. …

How can we increase farmers income?

These are:

1. Increase in productivity of crops.
2. Increase in production of livestock.
3. Improvement in efficiency of input use (cost saving)
4. Increase in crop intensity.
5. Diversification towards high value crops.
6. Improved price realization by farmers.
7. Shift of cultivators to non-farm jobs.

How does processed food affect the economy?

Food processing in the U.S. produced more than $1.08 trillion in economic output, including $812.26 billion direct economic impact, and $275.17 billion in indirect economic impact in 2010. Local and state taxes from food processing totaled $89.56 billion during this period.

Why food processing industry is important?

Food processing offers important benefits to businesses and consumers, including a more varied food supply and foods with a longer shelf life. Certain aspects of food processing, however, raise concerns over dietary health, worker health, and food safety.

Does food processing come under agriculture?

Growth Areas Sheep, beef cattle and grain farming are the largest employing sectors in agriculture, while bakery product manufacturing and meat product manufacturing are the largest employing sectors in food processing.

What is the future of the food industry?

The future of food will be about even more convenience and personalization. Technology, convenience and personalization are intertwined in the food industry. In the future, you can expect to see tech continue to play a major role as consumers continue to demand convenient food with a personal touch.

What are the benefits of food processing?

• Increasing availability and convenience. Food processing allows us to eat a greater variety of foods than our ancestors.
• Ensuring food safety. Having safe food to eat is something we take for granted.
• Personalised nutrition and health.
• Preserving nutritional quality.
• Fortification and enrichment.

Which method allows for 100\% FDI in food processing sector in India?

The automated method allows for 100 percent FDI in the food processing sector in India. 100\% FDI in food processing is allowed through the government approval route for trading, including e-commerce regarding food products manufactured or produced in India.

Will India become the world’s 5th largest consumer by 2030?

By 2030, India’s annual household consumption would have tripled, making it the world’s fifth-largest consumer. The automated method allows for 100 percent FDI in the food processing sector in India.

How to boost investment in the food processing industry in India?

Through the Ministry of Food Processing Industries (MoFPI), the Government of India is also taking all necessary steps to boost investments in the food processing industry. The government has approved 41 food parks under the Mega Food Parks Scheme, with 22 of them open as of April 1, 2021.

Why invest in India’s food ecosystem?

India’s food ecosystem offers enormous investment opportunities with stimulating growth in the food retail sector, favorable economic policies, and attractive fiscal incentives. India is the world’s sixth-largest food and grocery market. In India, the food and grocery retail business accounts for over 65 percent of the total retail market.