Food processing - 'A sunrise sector'
India's food ecosystem offers huge opportunities for investments with stimulating growth in the food retail sector, favourable economic policies and attractive fiscal incentives. The Food & Grocery market in India is the sixth largest in the world. Food & Grocery retail market in India further constitutes almost 65% of the total retail market in India.
The Government of India through the Ministry of Food Processing Industries (MoFPI) is also taking all necessary steps to boost investments in the food processing industry. The government has sanctioned 40 Mega Food Parks (MFPs) to be set up in the country under the Mega Food Park Scheme. Currently, 17 Mega Food Parks have become functional.
Click here to know more about Mega Food Park Projects approved by MoFPI.
- By 2020, Indian Food and Retail market is projected to touch $ 828.92 bn
- By 2020, the Indian Dairy industry is expected to double to $ 140 bn
- By 2024, the Food Processing industry will potentially attract $ 33 bn investments and generate employment for 9 mn people
- By 2030, Indian annual household consumption to treble, making India 5th largest consumer
100% FDI is permitted under the automatic route in Food processing industries.
100% FDI is allowed through government approval route for trading, including through e-commerce in respect of food products manufactured or produced in India.
For further details, please refer FDI Policy