In an era where the global market is ever-evolving, India’s food and beverage (F&B) industry is emerging as a significant player. During the keynote address at Indusfood 2025, held in New Delhi, Union Minister of Commerce & Industry, Shri Piyush Goyal, announced a visionary target: achieving $100 billion in combined exports from the F&B, agriculture, and marine products industries within the next five years. With the industries needing to grow at a combined rate of 14-15%, this target is seen as ambitious yet attainable.
Indusfood 2025: A Milestone Event
The 8th edition of Indusfood 2025 marked a significant milestone for the Government and the industry. The event, organized by the Agricultural and Processed Food Products Export Development Authority (APEDA) and Marine Products Export Development Authority (MPEDA), saw immense participation and enthusiasm. Shri Goyal complimented both organizations for their pivotal role in achieving $50 billion in exports last year, demonstrating the potential and resilience of India’s F&B sector.
Foreign Direct Investment: A Game Changer
One of the critical highlights of Shri Goyal’s address was the announcement of 100% Foreign Direct Investment (FDI) in the F&B sector. This move allows for complete foreign ownership and management, easing the entry of international players into the Indian market. Additionally, the Government has streamlined the process for work permits, making it easier for foreign professionals to work or set up businesses in India. This policy is expected to bring in fresh capital, technology, and expertise, further boosting the sector’s growth.
Innovation and Sustainability: The Way Forward
Shri Goyal urged Indian companies to invest in innovation, better packaging, and sustainable practices. He emphasized the importance of mechanizing processes to enhance hygiene and encouraged stakeholders to develop high-value nutritional products. These products could play a crucial role in the Government’s food security programs, ensuring that nutritious food reaches every corner of the country.
Promoting Organic Farming
Sustainability in farming is a top priority for the Government. Shri Goyal highlighted the efforts to promote organic farming and food products. The certification processes for organic foods have been eased, maintaining their sanctity and traceability. This initiative is expected to unlock tremendous growth potential in organic farming, aligning with global trends towards sustainable and eco-friendly agriculture.
Expanding Food Testing Laboratories
To ensure the quality and safety of food products, the Government is working to expand food testing laboratories across the nation. Shri Goyal welcomed suggestions on equipment and processes needed to set up high-quality testing facilities. This move aims to uphold the highest standards in food safety, thereby boosting consumer confidence and enhancing the marketability of Indian products.
Exploring India’s Culinary Diversity
Shri Goyal encouraged stakeholders to explore the diverse tastes and flavors from different parts of India. This exploration can lead to the innovation of new products that cater to both domestic and international markets. The success of pre-packaged, ready-to-eat foods from India, such as millets, pickles, and spices, in global markets is a testament to the potential of Indian culinary products.
The Evolution of Indusfood
Launched in 2017 by the Trade Promotion Council of India, with support from the Department of Commerce, Indusfood has evolved into a premier export-focused trade fair. It provides a platform for Indian F&B companies to showcase their products, network with international importers, and explore business opportunities. The event has simplified the sourcing process for international importers, connecting them with diverse suppliers across product categories.
Conclusion
The F&B, agriculture, and marine products industries in India are on the cusp of a remarkable transformation. With the government’s support and visionary policies, the target of $100 billion in exports by 2030 is not just a dream but a realistic goal. The focus on innovation, sustainability, and quality will pave the way for India’s F&B sector to make a mark on the global stage. As Indusfood continues to grow, it will play a crucial role in driving this growth, providing a platform for Indian products to reach new heights. The future of India’s F&B industry looks promising, and with the right strategies and collaboration, it is set to achieve unprecedented success.