Hey there! The Indian food industry is poised for huge growth, increasing its contribution to world food trade every year. In India, the food sector has emerged as a high-growth and high-profit sector due to its immense potential for value addition, particularly within the food processing industry. read more
The scenario of food processing sector in India is as follows: In Union Budget 2017-18, the Government of India has set up a dairy processing infra fund worth Rs 8,000 crore (US$ 1.2 billion). Union Budget 2016-17 proposed 100 per cent FDI through FIPB (Foreign Investment Promotion Board) route in marketing of food products produced and manufactured in India. read more
Government of India instituted a Special Fund in National Bank for Agriculture and Rural Development (NABARD) with a corpus of Rs. 2000 Crore during 2014-15 for providing direct term loans to establish infrastructure in the Mega Food Parks as also to the individual processing units to be set up in the designated Food Parks, at affordable rate of interest of around 10% p.a. read more
While India has ample supply of food, the food processing industry is still emergent: only two per cent of fruit and vegetables; and 15 per cent of milk produced are processed. Despite, of this the processed food industry ranks fifth in size in the country, contributing to 6.3 per cent of GDP. read more