Food processing industry to double in two years

Updated: July 11, 2019

Hyderabad: The Indian Food Processing industry, which is 6th largest in the world, is slated to become Rs 65 lakh crore industry by 2020 from its current size of Rs 31 lakh crore, experts opined at the 1st conference on Opportunities in Food Processing Industry for SC/ST Entrepreneurs. The conference was held by Dalit Indian Chamber of Commerce and Industry (DICCI), Telangana chapter in association with Ministry of Food Processing Industries.

Speaking at the inauguration, DICCI founder and chairman Milind Kamble said, “We are planning to organise 11 such conferences all over India. We have already organised two each in Nagpur and Jodhpur and this one in Hyderabad is the third conference on this topic. The food processing industry is a sun-rise industry and there is huge potential and scope for technological intervention in this segment. Not only manufacturing but also food service industry is growing and we expect it to touch Rs 65 lakh crore by 2020 from current Rs 31 lakh crore.”

DICCI is also working with the Central and State governments to provide support to SC/ST entrepreneurs in this space through various schemes and policies.

However, all is not honky-dory in this segment, Telangana government Tribal Welfare department secretary Benhur Mahesh Dutt Ekka said, “While the food consumption market in our country is set to become $1 trillion market by 2025 from current $370 billion, it still holds a lot of challenges. Major challenges are high amount of wastage – about Rs 92,000-worth of food gets wasted in our country annually due to lack of proper food storage and processing facilities.”

He added that the country has poor supply chain linkages, infrastructure bottlenecks and lack of quality standards. “And unless these things are not sorted out, the country will not achieve right kind of growth. I would urge all the entrepreneurs working in this space to look at these challenges and develop solutions accordingly,” he infrormed.

The conference that had about 300 participants provided awareness about opportunities in food processing industry, various schemes of MoFPI to support the new/existing entrepreneurs, technology support in food processing industry and schemes of financial assistance.

Source : telanganatoday

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