India and Food Processing Industry

Food Processing IndustryIn the past, food processing was carried out by agricultural community on a small scale, because of  shortage of food processing machines and poor infrastructure so it was confined to a region and place, but now it has assumed a face of billion dollars Industry.

 

Food processing industry in India, is growing so rapidly that this year, the investment in the industry reached  Euro 106.4 million, although  the last year investment was about Euro 4.2 million. It shows  spectacular growth the industry is reaping.

 

The Indian Ministry of Food processing Industry has charted out the blueprint for uplifting the standard of processing so as to promote the industry in both the national and international market and increasing the opportunities and attaching value to agriculture for the over all development of the sector.

 

The action plan that has been laid down to enhance the processing level of perishables, also been approved by the government which has envisaged tripling the worth of the industry by 2015.

 

The Government of India has taken imperative initiatives to provide special assistance in order to bolster the infrastructure of food processing industry through additional concessions and subsidies and decided to cut down taxes to encourage expansion, accentuating the Food Processing Industry as the backbone for growth of the country's economy.

 

A plenty of this industrial entrepreneurs are operating their business on a microcosmic scale in terms of production and revenue. This industry accounts for more than 70 per cent of the output in terms of quantity and 50 per cent in terms of value.

 

India is in position to hold self sufficiency in food production industry because of Her potential for producing a immense variety of food products at or below international price in most cases.

 

As you know! This sector is highly fragmented, consisting of various segments such as Fruit, Vegetable, Grain, Beverages, Dairy, Meat and Marine products. Its sub sectors encompass Soft-Drink, Confectionery, Tomato Sausage and Paste, Alcoholic Drink.

 

These pointers augur well for both the investors and exporters and hold out broad scope and  promising prospect for the industry, paving the way for  gigantic investment in Food, Food Processing Technologies, Skills and Equipments particularly in the field of Canning, Meat & Marine products, and Dairy & Food Processing. If the investors and companies make investment in this flourishing industry, can reap handsome profits.