Food Processing Sector

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 ...

Bihar attracts investment proposals of Rs 1.8 trn at global investors' meet

The Bihar government on Friday said it has attracted record investment proposals of nearly Rs 1.81 lakh crore across different sectors such as renewable energy, food processing and manufacturing from an array of corporates, including the Adani Group, Sun Petrochemicals, and others. At the end of the two-day global investors' summit Bihar Business Connect 2024, Industries Secretary Bandana Preyashi said the Bihar government has signed MoUs for setting up 423 units with an investment of Rs 1,80,899 crore. "We are overwhelmed with the response from corporates. It is beyond our expectations. We have received investment proposals of over Rs 1.8 lakh crore," she told reporters here. Sun Petrochemicals and Adani Group were among an array of industrial houses that lined up a record Rs 1.8 lakh crore investments across sectors in Bihar, more than triple of Rs 50,300 crore the state received at its maiden investor meet last year. Preyashi said Sun Petrochemicals will invest Rs 36,700 crore i

Food processing sector attracts $368.37 mn FDI till Sep FY25: Govt tells LS

The food processing sector received foreign direct investment (FDI) of USD 368.37 million till September of the current fiscal year, Parliament was informed on Thursday. Minister of State for Food Processing Industries Ravneet Singh Bittu in a written reply to the Lok Sabha said, Ireland invested USD 83.84 million, Singapore USD 48.45 million, Mauritius USD 41.65 million, the United States USD 38.60 million, Australia USD 20.18 million, and Mexico USD 9.59 million in April-September FY25. In FY24, FDI in food processing was USD 608.31 million. The sector is being promoted through Pradhan Mantri Kisan Sampada Yojana, Production Linked Incentive Scheme for Food Processing Industry, and Pradhan Mantri Formalization of Micro food processing Enterprises (PMFME) scheme.

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 ...

Speciality Restaurants to focus on oriental cuisine for expansion

Cloud kitchens, which expanded quickly during the pandemic, will continue to grow

Bengal received Rs 2,000 cr investment proposals in food processing sector

West Bengal has received investment proposals worth Rs 2000 crore in the food processing sector and the state may consider raising the subsidy in future from the current levels, West Bengal Food Processing Minister Subrata Saha said on Friday. The minister, who was speaking at the inauguration of the 19th International Foodtech Kolkata 2022 exhibition, said that since the Bengal Global Business Summit 2022 in April over 50 memorandum of understanding of more than Rs 2000 crore have been signed with various domestic and foreign enterprises. The state has passed a proposal to grant subsidies of up to Rs 10 lakh to enterprises setting up projects in the food processing sector in Bengal, the minister said. This subsidy may be increased in future to reach out and attract investments, Saha stated. The three-day mega business to business event is being participated by packaging, confectionery, bakery, dairy and hotel and allied services sectors. Director of Food Processing Industries of

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

India's food processing market may touch $470 billion by 2025: KPMG report

Tier-II and tier-III cities could mirror the trend visible in metropolitan areas, by buying more processed food in the coming years

PLI scheme for food processing industry well received by companies: Govt

The government on Wednesday said the production-linked incentive scheme for the food processing industry has been well received by companies like Nestle, ITC, Britannia, KeventerAgro and Amul.

Diversified base offers several growth opportunities for Jubilant FoodWorks

Valuations, however, are factoring in near-term benefits of growth and consolidation

Agri, food processing sector to strengthen India-US ties: Arkansas governor

The "historic" relationship between US and India can be further be strengthened with increased cooperation in the agriculture and food processing sector, Arkansas State Governor Asa Hutchinson said

Farm bills may prompt companies to procure directly, set up front-end infra

The reforms may translate into new opportunities for firms like ITC, Adani Wilmar and Reliance Retail

Hungry for more

Food processing should be treated on a par with agriculture

Govt provides 30% higher budget allocation to agriculture for FY21

Maximum of Rs 75,000 crore has been allocated for the government's flagship scheme PM-Kisan for the 2020-21 fiscal

UP garners food processing proposals worth Rs 1,890 cr from 368 firms

The projects are estimated to generate 30,000 jobs and are mostly pertain to rice mills, oil seeds, fruit and vegetable processing, and consumer food products

Food processing stocks rally as government to double Budgetary allocation

Avanti Feeds, Godrej Agrovet, Sheetal Cool Products, Foods & Inns, Freshtrop Fruits, Amrit Corp and Sampre Nutritions were up in the range of 5% to 14%.

Govt receives proposals to operationalise 4 mega food parks in 3 months

Govt approved 63 cold chain projects and more proposals have been received

Food processing sector to treble in coming years: Harsimrat Kaur Badal

At present, the size of India's food processing industry is about Rs 1.5 lakh crore