Food processing sector symbolises India’s growth story
THE food processing sector in India stands out as a beacon of our nation’s ambition, symbolising the strides we are making toward Viksit Bharat. No longer just a contributor to the economy, this sector is rapidly transforming into a cornerstone of India’s growth story. Under the visionary leadership of Prime Minister Narendra Modi, a masterful blend of policies, initiatives and infrastructure development has catapulted the sector to new heights, turning it into a formidable force on the global stage. India currently boasts a thriving economy valued at $3.7 trillion, with ambitious goals of reaching $30-35-trillion economy by the nation's centenary of Independence in 2047.
At the core of India’s transformation lies its rich agro-climatic diversity, empowering our farmers to cultivate a remarkable variety of crops. As a global leader in producing pulses, millets, milk, wheat, rice and a vast range of fruits and vegetables, India possesses an unparalleled resource base for value addition. This agricultural abundance, meticulously nurtured by our hardworking farmers, has sparked a wave of innovation and entrepreneurship, giving rise to a thriving food processing sector.
This sector has become a keystone of India’s economic development, driving growth through employment generation, technological advancements and the creation of new market opportunities. India also boasts the largest and youngest working population among the top global economies, further fuelling this dynamic transformation. By harnessing advanced processing technologies, the industry has been instrumental in reducing post-harvest losses, extending the product shelf life and ensuring that farmers receive better returns for their efforts.
As India’s food processing sector continues to evolve, it not only meets international quality standards but also diversifies its offerings to cater to the ever-changing tastes and preferences of global consumers. The close synergy between agriculture and food processing has thus become a powerful engine of economic progress. It underscores the vital role that our farmers and agriculture play in shaping the nation’s future, ensuring that India’s agricultural produce reaches every corner of the world with enhanced value and quality. Through this integration, supported by a vibrant and youthful workforce, we witness the emergence of a resilient, globally competitive sector that is poised to lead India toward a prosperous and sustainable future.
As an inflection point, the Covid-19 pandemic revealed the sector’s impressive resilience, swiftly adapting to the rising demand for processed foods. The gradual shift towards ready-to-eat, ready-to-cook and value-added products emphasised the sector’s crucial role in food security and nutrition. A strong food processing sector is essential for addressing food and nutritional security challenges in India, providing convenience, a longer shelf life and better access to remote areas. It also ensures improved price realisation for farmers and enhances market opportunities, making a significant impact on the GDP and supporting livelihoods.
At the forefront is the Ministry of Food Processing Industries (MoFPI), championing flagship programs like the PM Kisan SAMPADA Yojana (PMKSY). This initiative is transforming the sector by developing cutting-edge infrastructure and optimising supply chain management from the farmgate to retail. Complementing these efforts, the PM Formalisation of Micro Food Processing Enterprises Scheme propels the growth of micro food processing units through support for technology upgrades, capacity-building and marketing. The Production-Linked Incentive Scheme further energises domestic manufacturing and export growth by offering financial rewards tied to incremental sales. Additionally, the Special Infrastructure Fund of Rs 2,000 crore under NABARD (National Bank for Agriculture and Rural Development) plays a crucial role in reinforcing the sector’s infrastructure. This coordinated approach underscores a comprehensive strategy to elevate the food processing industry and related sectors, ensuring a robust, integrated and forward-looking growth path.
India’s rapidly growing economy and its demographic dividend create a unique and unprecedented opportunity for the food processing sector to reach new heights. The government’s pro-business reforms, including strategic tax incentives, streamlined ease of doing business initiatives and significant infrastructure development, have fostered an environment ripe for investment and growth. This supportive landscape not only attracts global attention but also positions India as a dynamic hub for innovation and expansion in the food processing industry.
After the resounding success of the 2023 edition of World Food India, the ministry is organising the third edition of the global event from September 19 to 22. Stakeholders from every facet of the food industry will come together to exchange ideas, explore opportunities and contribute to the overall development of this crucial sector. It will be a one-of-a-kind gathering of manufacturers, producers, investors, policymakers and organisations from across the global food ecosystem.
World Food India serves as a platform where stakeholders converge to explore innovations, forge partnerships and chart a course towards a sustainable food future. Let us seize the opportunities and embark on a journey towards a more prosperous and resilient food system that benefits all stakeholders across the value chain. In this moment of convergence, we are not merely advancing an industry but also embracing a shared vision of a future in which innovation, sustainability and prosperity uplift every corner of our nation.
