Food processing startups saw manifold revenue surge in 5 years: Union minister

Sonepat, February 14

Union Minister for Food Processing Industries Pashupati Kumar Paras, while highlighting the role of startups in the field of food processing, said India was one of the largest sectors in the world of food processing.

He said this while addressing the gathering in the inaugural session of the two-day ‘SUFALAM’ startup conclave held at the National Institute of Food Technology Entrepreneurship and Management (NIFTEM) in Kundli, Sonepat.

The event was organised for food processing entrepreneurs and mentors.

The programme is being jointly organised by the Ministry of Food Processing Industries and NIFTEM.

Ministry of Food Processing Industries Secretary Anita Praveen, Additional Secretary Minhaj Alam and NIFTEM Director Harinder Singh Oberoi were also present during the programme.

The Union minister said there had been an unprecedented increase in market size and revenue in the last five years. Retail startups contribute nearly 70 per cent of the total sales while food processing companies are part of 30 per cent of the total market in the country, he added.

Highlighting the importance of organising ‘SUFLAM’, Union Minister of State for Agriculture and Farmers’ Welfare Shobha Karandlaje emphasised the need for enhancing networking, facilitating knowledge sharing and enabling startups to avail benefits of various government schemes.

Praveen highlighted the importance of registering all micro-entrepreneurs, self-help groups and micro, small and medium enterprises (MSMEs) on the Startup India portal.

Oberoi said ‘SUFLAM’ was an important platform aimed at fostering the innovation and collaboration, along with the promotion of the growth of the food processing industry.

The programme was attended by more than 250 industry stakeholders, along with owners of startups, MSMEs, financial institutions, etc.

Four knowledge sessions and two discussion rounds were held during the event, with a total of 35 exhibitors attending the exhibition.

Retail startups contribute 70% of total sales

• Union Minister for Food Processing Industries Pashupati Kumar Paras said retail startups contribute nearly 70% of the total sales while food processing companies are part of 30% of the total market sales in the country
• Union Minister of State for Agriculture and Farmers’ Welfare Shobha Karandlaje emphasised the need for enhancing networking, facilitating knowledge sharing and enabling startups to avail benefits of various government schemes