July 15, 2020
The Indian processed food industry, valued at around US$543 billion in 2020, is expected to grow to US$958 billion by 2025
India, one of the world’s leading suppliers of agri and food products, has consistently expanded its offerings and global market
At the event, 23 Italian firms held a virtual exhibition and participated in business meetings with end-users and other industry players
Meetings and webinars focused on areas of Fruits and Vegetables, Cereals, Dairy Processing, Packaging & Bottling, among others
An event to promote Digital Indo-Italian Business Mission on Food Processing was inaugurated on July 15. The two-day event featured digital conferences, trade fairs, and B2B meetings to promote trade and investment opportunities in the food processing sector. India, one of the world’s leading suppliers of agricultural and food products, has consistently expanded its offerings and global market on the back of rising capacity and abilities as well as improving policies and regulations. As a result, the Indian processed food industry, valued at around US$543 billion in 2020, is expected to grow to US$958 billion by 2025. This growth is supported by increasing investment in farming, allied infrastructure, skill development, and other resources. These activities have led to India emerging as an indispensable part of the global food value chain – a key advantage. This has also attracted increasing foreign investment in the space.
With a shift in the industry landscape, many Indian food processing companies are now attempting to diversify and expand their product line-up. To that end, versatile equipment is aiding the production of different product types, allowing companies to increase their output without major changes to their facilities. Herein, Italian food and equipment related companies have much to look forward to in the Indian markets in order to expand their global outreach. At the event, 23 Italian companies held a virtual exhibition of their products and services and participated in business (B2B) meetings with the end-users and other industry players from India. Meanwhile, the meetings and the webinars focussed on the key areas of Fruits and Vegetables, Cereals, Milk & Dairy Processing, Packaging & Bottling, among others. There are also opportunities for technical collaborations with the units in the Mega Food Parks.
Inaugurating the event, the Indian Minister for Food Processing Industries, Smt. Harsimrat Kaur Badal detailed the various opportunities offered by the Ministry of Food Processing Industries (MoFPI) in the form of ready infrastructures such as Mega food parks, agri export zones, industrial parks, estates, clusters, and nodes. She also stressed upon new opportunities in the food processing sector with various segments emerging as the champion segments like ready to eat, frozen food, superfood, nutraceuticals, among others. With a rapidly-growing market of its own, India will be a key player in food processing.