Processed food ind to attract Rs 95k cr investment in 3 years
The Indian processed food industry, which constitutes only a mere 1.3 per cent of total agricultural products, will see investments of over Rs 95,000 crore in the next three years, says a report.
By PTI |
NEW DELHI: The Indian processed food industry, which constitutes only a mere 1.3 per cent of total agricultural products, will see investments of over Rs 95,000 crore in the next three years, says a report.
"Investments to the tune of 23.5 billion dollars in the food processing sector over the next three years is in the pipeline," said the report, 'India Food Report 2008', which is expected to be released at the Food Forum India in Mumbai.
This is just the right time for global firms to invest in the food processing sector, especially when the government seems eager to boost rural and farm incomes, it added.
"The total market for food in India, estimated at over Rs 8,00,000 crore, accounts for about 2/3rd of the total Indian retail market. Less than one per cent of this segment is organised," the report said.
Food segment that contributes about 13 per cent of the total organised retail pie offers huge scope for investment. Nearly 80 per cent of agricultural products in developed countries get processed and packaged, the report said. However, it is just about 1.3 per cent in India.
In this backdrop, the country's food industry is gearing up for the first food forum, to be held on May 6-7 in the financial capital of the country and over 300 companies from across the globe are expected to take part in the event.
The two-day B2B event, organised by Delhi-based Images Multimedia Group and supported by Central Food Processing Industries Ministry, would deliberate on different aspects and issues of the food industry, besides exploring opportunities in branding and retailing of food spaces across India.
"This is for the first time that any such kind of event is happening in India. We are expecting over 300 companies from all over the world to take part in the forum," Food Forum India (FFI) Convener R S Roy told PTI, adding that about 50-60 overseas firms would participate.
FFI Advisory Board members have lined up various sessions during the conclave, which are expected to be attended by about 1,000 delegates, including over 150 foreign nationals, he added.
The event would primarily focus on processed food industry, in which, according to the government's vision document, investments to the tune of Rs 1,00,000 crore is targeted by 2015.
Some of the leading companies expected to take part in the food conclave include Future Group, Subhiksha, Reliance Retail, ITC, Hypercity Retail, More & Trinethra, Nirula's, Barista, Pizza Hut, Domino's, McDonald's, Food Bazaar, Bharti Retail, Dabur, Parle, Coke, Pepsi, Britannia and Nestle among others.
"Investments to the tune of 23.5 billion dollars in the food processing sector over the next three years is in the pipeline," said the report, 'India Food Report 2008', which is expected to be released at the Food Forum India in Mumbai.
This is just the right time for global firms to invest in the food processing sector, especially when the government seems eager to boost rural and farm incomes, it added.
"The total market for food in India, estimated at over Rs 8,00,000 crore, accounts for about 2/3rd of the total Indian retail market. Less than one per cent of this segment is organised," the report said.
Food segment that contributes about 13 per cent of the total organised retail pie offers huge scope for investment. Nearly 80 per cent of agricultural products in developed countries get processed and packaged, the report said. However, it is just about 1.3 per cent in India.
In this backdrop, the country's food industry is gearing up for the first food forum, to be held on May 6-7 in the financial capital of the country and over 300 companies from across the globe are expected to take part in the event.
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The two-day B2B event, organised by Delhi-based Images Multimedia Group and supported by Central Food Processing Industries Ministry, would deliberate on different aspects and issues of the food industry, besides exploring opportunities in branding and retailing of food spaces across India.
"This is for the first time that any such kind of event is happening in India. We are expecting over 300 companies from all over the world to take part in the forum," Food Forum India (FFI) Convener R S Roy told PTI, adding that about 50-60 overseas firms would participate.
FFI Advisory Board members have lined up various sessions during the conclave, which are expected to be attended by about 1,000 delegates, including over 150 foreign nationals, he added.
The event would primarily focus on processed food industry, in which, according to the government's vision document, investments to the tune of Rs 1,00,000 crore is targeted by 2015.
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Some of the leading companies expected to take part in the food conclave include Future Group, Subhiksha, Reliance Retail, ITC, Hypercity Retail, More & Trinethra, Nirula's, Barista, Pizza Hut, Domino's, McDonald's, Food Bazaar, Bharti Retail, Dabur, Parle, Coke, Pepsi, Britannia and Nestle among others.
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