Govt reducing compliances in food processing sector: Union minister Prahlad Singh Patel
The government is focusing on reducing compliances further to promote the food processing sector, Minister of State for Food Processing Industries Prahlad Singh Patel said on Wednesday. Addressing the ’14th FIcci Foodworld India – The Global Convention for Food Business and Industry’, Patel highlighted the need to enhance the marketing and branding of Indian food processing sector and products.
“The government is fully committed to supporting the industry and find solutions to the problems. We also need to further simplify the existing schemes by removing the bottlenecks and industry will play a critical role in this,” he said.
The government’s focus is on reducing compliances to support the industry and the sector, he said. To boost the sector, he said, the government has already stepped up incubation centres to support the industry and innovation.
India’s food production industry worth over $400 billion, but food processing significantly low-BCG FICCI Report
India’s food production industry is worth over $400 billion, the primary source of livelihood for over nearly half of the country’s population but the level of food processing across categories is significantly low, said a recent study.
India’s share of agri-production is 9.5% globally, while its share in the export of overall food products is 2-3% – with share in export of processed food category even lower at 1-2%, according to a report by Boston Consulting Group (BCG) in association with Federation of India Chambers of Commerce & Industry (FICCI).
“We live in an increasingly connected world, where consumers can access products from across the globe. With fundamental shifts in consumer behavior owing to the pandemic, growing awareness, convenience and lifestyle changes and health consciousness, consumers are gravitating towards processed and packaged foods. These newly created opportunities in the food processing industry make it crucial for India to focus strongly on exports and seize the opportunity to capture a burgeoning global market”, said Hemant Malik, Chairman – FICCI, Food Processing Committee and CEO- Food Division, ITC Ltd.
Milk producer companies’ milk procurement to jump 3-fold to Rs 18,000 cr in value terms in 5 years
Milk procurement by milk producer companies, which are owned by farmers, is estimated to jump nearly 3-fold and touch Rs 18,000 crore in value terms in the next five years, according to NDDB.
National Dairy Development Board (NDDB) Chairman Meenesh Shah said the milk producer companies procured milk worth Rs 5,575 crore last fiscal year and the same is set to triple and reach over Rs 18,000 crore in the next five years.
He also assured that NDDB through its arm NDDB Dairy Services will facilitate setting up of more milk producer companies across the country, the board said in a statement. Shah was addressing the IDF World Dairy Summit 2022 being held at Greater Noida, Uttar Pradesh during September 12-15.
“The startup concept may have come recently but the milk producer companies are the real startups working since long,” he said. Shah said, about 750,000 farmers, including over 70 per cent women, have created about 20 producer-owned entities.
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