Investment To Be Reach Up to $18 Billion In Food Processing Market

Posted on: May-2018 | By: Pro Market Reasearch | Food & Beverage

Addressing a conference of Ph.D. Chamber of Industry Organization, Food Processing Secretary J. P. Meena said that the future of the food processing sector is bright. With the increase in the income of the farmers, it can create a large number of jobs.

Meena said that during the World Food India Conference held last month, India has received investment commitments of $12.5 Billion for this sector. In addition to this, the government has also started an asset allocation scheme of Rs 6,000 Crore for the promotion of this area. With this plan, it is likely to invest Rs 31,000 Crore ($5 Billion) in this sector.

He said that if all these commitments are put on the ground, then in the next three to four years, there will be an investment of $18 Billion in this area. The country is also largest fruit importer for fruits and vegetables, even though there is ample of production and cultivation in the form of domestic supply, which leads to insufficient delivery of products in terms of quality and varieties processing units. The government is also in plans to introduce a mini food in the country. Through this scheme, grant of about Rs10 Crore would be offered.

Advancement in the food processing equipment, process automation, subsidiaries offered by the government, Make In India initiative are some of the factors responsible for the growth of processed food market. Satisfactory cultivation of crops due to ample monsoon has resulted in increased stocks resulting in growth in the overall food processing sector.