Food Processing – Major Drivers of The Indian Economy

food processing

The food processing sector in India with its huge prospective has risen as one of the major drivers of financial development. It is encouraging to perceive that while the  GDP growth rate of India had raised from 3.5 percent in 2002-03 to 9 percent in 2006-07, the food processing sector has expanded from 7 percent to 13.1 percent during the corresponding period.

India is a country of over 1.10 billion clients, there’s a massive untapped domestic market of 1,000 million consumers within the food processing region and 200 million more clients are predicted to shift to processed foods via 2010. It is the second largest producer of fruits and vegetables in the globe.

There is a waste of perishable food items within the country. Because of the lack of proper food processing centers and the level of processing is best at about 2.2 percent. However, India has the super capability to unfasten a big scale system primarily based farm sports to take advantage of the emerging international business opportunities.

Incredible Opportunities

India’s homogeneous marketplace size, endowed with growing income and changing lifestyle patterns has created excellent market opportunities for food manufacturers, machinery makers, food technology and service carriers. Food processing industries have wonderful export and employment ability.

The policies are investor-friendly and greater importantly technological and human resources are available aplenty inside the country

The aggressive area loved in phrases of raw fabric and labor offers beneficial opportunities. However, the negative perception of pleasant and the detached picture of Indian merchandise is stopping Indian food products worldwide to enter markets in a huge manner.

Production of excessive great processed foods meeting international great requirements & regulations may also completely open new frontiers for Indian foods and products.

This will no longer create a dynamic and aggressive home food processing industry, but will even enable India to end up a main player within the global grocery store. An attitudinal exchange towards satisfactory is important.

Several thousand crore worths of farm produce are lost every year due to incapable post-harvest practices for garage and processing. On one hand is the developers call for food products, that are tough to satisfy due to limited resources and on the opposite, there exist abnormally excessive wastage in farm sector because of an inefficient era in garage, processing and coping with.

It is, therefore, imperative to introduce nation of the art technology in the food-processing sector to minimize submit-harvest losses. It additionally calls for concerted attention to 3 decided on food products in which India has or can develop a competitive side over different countries.

FDI

The sector has been attracting widespread FDI additionally and is among the pinnacle ten sectors getting FDI fairness. FDI as much as one hundred, according to cent fairness is allowed beneath the automated direction in food and infrastructure like food parks and bloodless chains.

There are many regions for funding for this quarter, which consist of mega food parks, agri-infrastructure, deliver chain aggregation, logistics, and cold chain infrastructure, fruit and vegetable products, animal products, meat and dairy, fisheries and seafood cereals, wine and beer, equipment/packaging.

Productivity and Progress

It is vital to understand the dynamic relationship that exists among productivity and development. The fundamental fact is that until each the farmers, as well as the processors, are convinced of benefits that increase via productivity, the productivity campaigns will continue to be ineffective.

So the principal mission is to introduce the standards of productivity and make it work under a diffusion of limitations for the sustainable boom of the enterprise.

In the process of globalization, the Indian food processing industry could be dealing with expanded opposition, especially in domestic markets in addition to the uncertainties prevailing in the international markets. It is in this context that emphasis should be given to improve productivity

Undoubtedly, better appearing firms may have a competitive facet over others. In order to preserve the tempo of productivity, the National Productivity Awards have consequently assumed a lot more significance.

Ministry of Food Processing Industries on its element is leaving no stone unturned to obtain, the more than one goal of stepping up the growth, higher farmer income, discount in wastage, supplying nutritious and safe foods and improving employment possibilities.

It has initiated measures to cope with the fundamental constraints being faced with the aid of the industry consisting of affordability and cost of processed foods, linking of farmers and processors, supply chain and publish harvest generation, infrastructure, finance, food safety, hygiene, and taxes.

With the energetic guide and cooperation of all the stakeholders, the ministry is assured of supplying the vital momentum for the speedy growth of the food processing sector and bring in a brand new technology within the Indian financial system.

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