The Future of Indian Food Processing Industry
The Indian food processing industry continues to be one of the most prosperous sectors in India as in the last few years. This industry has been attracting the attention of both the government and investors and is promising to be a high growth and high RoI sector due to its immense potential for value addition. With a projected value of over USD 65 billion by 2018 as indicated by the government’s Make in India campaign, the Indian processed food industry is on a strong growth path (other sources such as Invest India and IBEF place the value of the industry at over USD 200 or even 250 billion). The current numbers are very impressive, and again, according to the Make in India campaign, the sector currently employs 13 million people directly and 35 million people indirectly. The food processing sector accounts for 14% of manufacturing GDP, 13% of exports and 6% of total industrial investment. This sector also accounts for one-third of the total food market of the country. Investment in infrastructure and capital goods is increasing at an impressive pace.
Why Processed Traditional Foods?
India is a country with over 1.25 billion people and has 29 States and 6 Union territories (UT). Even though some of the non-Indian foods or snacks such as pizza, burger, pasta, noodles, etc. have found their way to Indian consumers, they have not been able to replace the basic food habits of Indians, particularly at home. The above non-Indian foods are rarely included in the regular diets of Indian consumers at home and can be termed as occasional meal components. Indian consumers still prefer regular and traditional foods as their routine diet and this food habit is unlikely to change any time soon. However, with changing lifestyles, the growing nuclear families and increasing number of working women, today Indian consumers are looking for options where they can have their favorite dish ready as quickly as possible, and of course at the lowest possible cost. This need has given space to products such as ready to eat(RTE) or ready to cook(RTC) food. Thus, traditional food habits along with the growing trend of less time spent in the kitchen have paved the way for the processed Indian traditional foods in India. Processed Indian traditional foods (PITF) is hence the key industry to look out for in coming years.
This conference will put across agendas not only about creating demand for processed Indian foods but it will also help understand other key aspects such as science, resources requirement, infrastructure, education, competent manpower, etc. This conference plans to address the complete value chain of the Processed Indian Traditional foods. It will be a platform to discuss how a processed product can be developed successfully. The conference will bring experts from various fields such as agriculture, R&D, supply chain, food ingredients, processed food manufacturers, retailers, advertising, policy makers, nutritionists and research scholars to share their knowledge with the gathering. The attendees of the conference can be very sure of having a day full of information and the conference will provide some very interesting food for thought.