Indian food industry to grow to $310 bn by 2015
Mumbai, May 2: The Indian food industry is expected to grow to 310 billion dollars by 2015, a concept paper prepared for the two-day convention of Food Forum India (FFI), beginning here this Monday, has projected.
India is also going to witness a major thrust in the already booming food retail industry, which is currently growing at nine per cent, the paper said. The country has also the potential to become a reliable outsourcing partner in the food sector as its food brands are rapidly entering the global retail market and a breed of foreign taste masters are currently operating in India. The Indian food industry, both primary and processed, is currently estimated to be worth over 200 million US Dollars. More than one hundred experts in food supplies and support systems from all over the world are likely to converge at the convention to brainstorm opportunities for business networking. FFI will host the Food Vision Conclave, Leadership Sessions, Exhibits of Futuristic Concepts in food businesses (farm to plate) and provide opportunities for branding and retailing as also a peep into the best of food retail spaces across India.
The Forum will culminate in the Images Food 'Golden SPOON' Awards to felicitate outstanding achievers in the food business.
It will also seek to bring in global perspectives and discuss a range of issues pertaining to food regulatory systems, sustenance of quality by organizing interactions between producers and processors to ensure safety in the food chain.
Union Minister of Food Processing Industries, Subodh Kant Sahai, Secretary General of UNCTAD and former Director General of World Trade Organisation, Supachai Panitchpakdi are among those who will address the inaugural session of the convention, the organisers said here today.