Key Growth Drivers
- 8.7% GDP growth in 2021-22.
- Supportive Policy & Regulatory Environment.
- Young & Diverse Market.
- USD 6 trillion domestic consumption by 2030.
Indian economy has seen tremendous growth over the last decade. Currently India is the 5th largest economy in the world with a size of US $3.5 Tn. The Food Processing sector has been a large contributor to this growth. In 2021-22 alone the food processing industry recorded exports worth US $10.42 Bn. A favourable policy and regulatory environment has bolstered a substantial growth in the industry. 100% FDI through automatic route for Food Processing Industries and 100% FDI through government-approval route for retail trading, including through e-commerce have been key drivers for the sector.
The Government is continuously taking feed back from the industry and coming up with incentives like Production Linked Incentive (PLI), Pradhan Mantri Kissan Sampada Yojna (PM-KSY), Pradhan Mantri Formalisation of Mircro Food Processing Enterprises (PMFME) to name a few.
Corporate Tax among lowest globally.
28 Central Departments and 20 State Governments have been onboarded on National Single Window System.
Duty exemption on domestically manufactured goods for export remission of duties & taxes on exported products.
GIS based technology platform for multi- modal connectivity, logistics efficiency and seamless movement of goods & services.
Open Platform network to expand via e-commerce by connecting with solution partners.
250+ reforms & Corporate tax among lowest globally implemented for EoDB.
Objective is to build a logistics ecosystem in India that is technology-enabled, integrated, cost-effective, and dependable.
Specialised teams across ministries to handhold investors and offer ready on-the- shelf investible projects.
The scheme adopts the One District One Product (ODOP) approach to reap the benefit of scale in terms of procurement of inputs, availing common services and marketing of products. It has been implemented across 713 districts of 35 states / UTs.
#1 Rail Network in Asia (with 1,28,305 kms of railway tracks).
3.5+ Bn Passengers & 1.4+ Bn tonnes of freight carried annually.
#2 Road network globally(with 63,71,847 kms of road network).
37 Km of roads constructed daily, highest recorded historically.
More than 3 Mn MT of cargo handled in 2022.
123+ Mn domestic & 43+ Mn international passengers serviced annually.
1500+ MMTPA handling capacity.
200+ Major & minor ports well connected with road and railway lines.