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Food processing sector set to surpass $600 billion

by Blitz India Media
April 11, 2024
in Nation
0
Food processing
Team Blitz India

WITH projections indicating a positive growth trend, the food processing sector’s output is expected to surpass $ 600 billion by 2025-26.

Anita Praveen, Secretary of the Ministry of Food Processing, emphasised the importance of research and development (R&D) in propelling the Indian food processing sector to greater heights.

Speaking at the FICCI Scientific Symposium on ‘Processed Foods for Purpose,’ she highlighted the sector’s significant potential for growth and its status as a priority area within India’s agricultural landscape.

“The food processing sector has become one of the priority sectors for growth. We have already achieved high levels of growth with the resources we have. There is now a need for the food processing sector to focus on R&D to take the sector to the next level”, she said.

Praveen talked about the crucial role of the food processing sector in driving economic growth and generating employment opportunities, particularly for micro and small enterprises.

There is now a need for the food processing sector to focus on R&D to take the sector to the next level”, the secretary said

She also outlined the strategic advantages of the food processing industry, citing the abundant availability of raw materials at competitive prices and burgeoning consumer demand both domestically and internationally.

Pointing out the advantages of the industry, she said, “We have plenty of raw materials at good prices, and demand is strong both locally and globally. It’s a great time for the food processing industry”.

Addressing the pressing issue of food wastage, the Secretary emphasised the need for comprehensive waste management strategies at every stage, from farm to fork. She also mentioned the need to connect small businesses with larger ones to improve quality and supply chains.

“We should educate consumers and focus on quality. Consumers need to know what they’re getting, and the industry must ensure quality,” she said. Praveen also suggested closer collaboration between big and small companies to boost exports, stressing the need for quality control and strong supply chains.

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