Food Processing Industry

Indian food processing industry to reach $700 billion by 2030: PHDCCI

India's food processing sector's market size is estimated to more than double to USD 700 billion in 2030 from USD 307 billion in 2023, driven by growing demand for processed products, according to industry body PHDCCI. On Friday, the association released a report 'India's Agricultural Transformation: From Food Scarcity to Surplus'. The food processing sector is expected to reach USD 700 billion by 2030, the report said, adding that the market size will further increase to USD 1,100 billion by 2035, USD 1,500 billion by 2040, USD 1,900 billion in 2040 and USD 2,150 billion by 2047. In a statement, PHDCCI said India's agriculture and allied sector has been growing strongly. From 2013-14 to 2023-24, the sector maintained average growth rate of 3.9 per cent, emphasising its steady contribution to the nation's economy. Even during the pandemic, agriculture remained vital, achieving a commendable 4 per cent average growth rate, said Hemant Jain, President, PHD Chamber of Commerce and ...

Govt to streamline regulatory framework for bakery-confectionery industry

Food Processing Industries Secretary Subrata Gupta assured on Wednesday that the government will address the concerns of the bakery and confectionery industry, including streamlining regulatory frameworks. During an interactive session with industry leaders, key focus areas emerged, including regulatory simplification, sustainability, and innovation, an official statement said. The secretary, who chaired the high-level roundtable discussion, assured participants of the government's commitment to addressing sector challenges and fostering collaborative growth. Industry representatives emphasised the need for policy alignments that can support both large and small-scale manufacturers. Critical recommendations included technology adoption, expanding domestic production of critical inputs like cocoa, and integrating informal sector units into the formal ecosystem. The roundtable discussions highlighted potential strategies for enhancing raw material availability, streamlining supply .

Need to instill fear of harsh penalties in minds of illicit traders: MoS

Minister of State for Food Processing Industries Ravneet Singh Bittu on Wednesday stressed the need for harsh penalties and cracking down heavily on the nexus of people engaged in illicit trade and activities. Addressing the 10th edition of FICCI-CASCADE's - MASCRADE 2024', Bittu said that coordination between various enforcement agencies is key to overcoming the battle against the nefarious elements ruining economic growth. "Together, we build resilient economies, fostering global collaboration to combat these threats with robust initiatives...punishment is necessary, and it is important to instill fear in the minds of perpetrators that harsh penalties are in store for them if they engage in illicit trade activities, he added. Central Board of Indirect Taxes and Customs (CBIC) member Rajiv Talwar said the board is serving as the fulcrum in the movement against counterfeit goods and smuggling. "We have built a technology-driven risk management portal with very wide capabilities tha

Food processing ministry to take up concern on GST with Council: Paswan

Seeking to promote the food processing sector, the Centre on Thursday held consultation with more than 100 senior executives of food companies to understand the problems faced by them related to ease of doing business, imports, GST rates and misconceptions about processed food items. During the meeting, food companies demanded reduction in GST rates of many food items. A high-level CEO roundtable, under the co-chairpersonship of Commerce & Industry Minister Piyush Goyal and Food Processing Industries Minister Chirag Paswan, was organized as part of World Food India 2024 event being held during September 19-22 in the national capital. It laid "focus on promoting investment and enhancing Ease of Doing Business and was attended by over 100 CXOs," an official statement said. Speaking on the sidelines of this meeting, Paswan said, "the objective of this CEO roundtable was to provide a platform to industry representatives of food companies to put forward their concerns and suggestions ..

The expanding horizon: How food processing industry drives economic growth

Being the largest producer of several food commodities like milk, millet, fruits, vegetables, tea, and fish, India has created a strong foundation for the food processing industry

Domestic food market likely to grow by over 47% to touch $1,274 bn: Report

The domestic food market is expected to grow by over 47 per cent to reach USD 1,274 billion by 2027, a report released by the Confederation of Indian Industry and supported by Danfoss India said. India's food processing industry sees innovative startups emerging with cutting-edge technology, the report titled 'Food Processing Sector in India - Potential for Southern States. and released by CII, CII FACE (Confederation of Indian Industry -- Food and Agriculture Centre of Excellence) and Danfoss India, said. Danfoss India is a leader in heating, ventilation and air-conditioning and is the subsidiary of Denmark-headquartered engineering major Danfoss. Some of the key highlights of the report, which was released at the CII-FoodPro 2024 include the potential that southern states hold for food processing industry. "Tamil Nadu leads India's export of processing fruits, juices and nuts, with a 33 per cent share by quantity and 27 per cent by value, exporting 2,08,370 metric tonnes worth US

Govt invites EoI to build multiproduct food irradiation units under PMKSY

The government has invited Expressions of Interest (EoI) from entrepreneurs for the setting up multiproduct food irradiation units under the Pradhan Mantri Kisan SAMPADA Yojana (PMKSY). The last date for submission of EoI/ proposals is September 21, the Ministry of Food Processing Industries said in a statement. The entities are required to submit their proposals online only at https://www.sampada-mofpi.gov.in/ with relevant details under "PRADHAN MANTRI KISAN SAMPADA YOJANA". A financial assistance in the form of grants-in-aid/ subsidy will be provided to the eligible projects under the demand-driven Cold Chain scheme. All proposals are required to be prepared and submitted on or before the due date as per the scheme guidelines.

Bihar's large farmer population crucial for food processing: Paswan

Union Minister Chirag Paswan on Saturday said Bihar with a large number of farmers can play a crucial role in the food processing sector. Addressing a meeting with industry leaders and micro-entrepreneurs from the food and allied sectors in Patna, the minister said he would like to strengthen the food processing sector in his home state. Paswan, the Union minister for food processing industries, said he would continue to work towards the uplift of farmers in the country as well as in Bihar. The food processing sector is very important and this can help elevate the economic status of India. I will strengthen the sector in my home state. Bihar is a state with a large number of farmers and can play a crucial role in the food processing space," he said. Paswan said he wished to see food processing as an employment-generating sector with maximum processing units across the country and Bihar. The union minister chaired the industry roundtable meeting with industrialists and ...

Food processing industry should focus on quality, says Anita Praveen

Addressing stakeholders, secretary said that the industry will have to stand for itself by building quality products, adding that ultra-processed food cannot become the cause of disease

Share of food processing in GVA needs to be raised to 7.2%: Report

This is because increasing agricultural output without investing in processing facilities can harm farmers' earnings and cause rural distress

Bank credit growth to industry decelerates to 6.1% in Nov: RBI data

Growth of bank credit to industry decelerated to 6.1 per cent in November as against 13 per cent recorded in the same month last year, according to data released by the Reserve Bank of India (RBI) on Friday. Among major industries, year-on-year credit growth to basic metal & metal products, food processing and textiles accelerated in November 2023 as compared with the corresponding month of the previous year, while that to all engineering, chemicals & chemical products, and infrastructure decelerated. On the other hand, credit growth to agriculture and allied activities accelerated to 18.2 per cent in November from 14 per cent a year ago. According to the data on "Sectoral Deployment of Bank Credit -- November 2023", personal loan growth decelerated to 18.6 per cent (y-o-y) in November (19.9 per cent a year ago), due to moderation in credit growth to housing. Credit to the services sector grew 21.9 per cent in November as against 21.3 per cent a year ago. Credit growth to ...

Food processing units in all mandals after elections, promises KCR

Stating that a slew of new programmes and new planning is on the cards, he exuded confidence that Telangana will becomeA the most advanced state in the country

Food Processing Ministry seeks suggestions for 'World Food India' event

The Food Processing Industries Ministry on Thursday said it has sought suggestions from other ministries and departments for the second edition 'World Food India 2023' to be held during the first week of November. The first edition of the 'World Food India' was launched in 2017 with the objective of introducing the world to rich Indian food culture as well as promoting investments in the diverse food processing sector of the country. The second edition aims to celebrate 2023 as the International Year of Millets and to bring the global food processing industry together. An inter-ministerial committee meeting, chaired by Anita Praveen, recently discussed the government's preparedness so far for this event, an official statement said. "All central ministries and departments were requested to share suggestions on the planned sessions of World Food India and participate in the event activities as well as support the ministry in awareness creation," it said. Further, the Investment ...

Food growers can be processors too

A higher level of processing would generate additional income for farmers and off-farm employment and entrepreneurship opportunities for rural people

Happilo: Farmer's son and a nutty biz selling good health in small packs

Vikas Nahar's enterprise does Rs 40 cr a month on average, selling exotic and local nuts processed at 16,000 sq ft of processing space that he now plans to scale up by another 100,000 sq ft

Food processing minister launches 6 brands under One District-One Product

These six brands are out of 10 that the ministry has signed up with cooperative NAFED for branding and marketing of ODOPs

Food processing ministry okays 60 applications under PLI scheme

In March this year, the Union Cabinet approved a PLI scheme for the food processing sector

FDI in food processing sector down 54% to Rs 2,934 crore last fiscal

Foreign direct investment (FDI) in food processing sector declined 54 per cent to Rs 2,934.12 crore in 2020-21 as compared to the previous year, the government said on Friday. In a written reply to the Rajya Sabha, Minister of State for Food Processing Industries Prahlad Singh Patel informed that the FDI in the food processing sector stood at Rs 4,430.44 crore in 2018-19, Rs 6,414.67 crore during 2019-20 and Rs 2,934.12 crore during the 2020-21 financial year. The minister said that the FDI inflows in the food processing sector stood at USD 393.41 million in 2020-21 as against USD 904.70 million in the previous year. During the 2018-19 fiscal, the FDI inflow was USD 628.24 million, while the FDI was USD 904.9 million in 2017-18 and USD 727.22 million in 2016-17. Patel informed that 100 per cent FDI is permitted under the automatic route for the sector. "The share of FDI in the food processing sector is only 1.5 per cent of total FDI inflows and the sector needs more investments bo

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Centre clears twenty food processing projects worth Rs 363.4 cr

The Union Food Processing Industries Ministry on Wednesday said it has cleared 20 projects worth Rs 363.4 crore