Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
Nov, 01 2014

Food processing industry now a key driver in India’s growth

During the last five years, FPI sector has been growing at an Average Annual Growth Rate (AAGR) of around 8.6 per cent as compared to around 3.8 per cent in agriculture and 7.7 per cent in manufacturing.rn

The food processing industry is now an important segment of the Indian Economy in terms of contribution to GDP, employment and investment. The industry has proved to be a major driver in country's growth in near future, according to a PTI report, citing a senior government official's statement.

"FPI contributes as much as 9.0 to 10.0 per cent of GDP in agriculture and Manufacturing sector," said J P Meena, Additional Secretary, Ministry of Food Processing Industries (GOI), delivering a key note address at National Conference on 'Mega Food Parks' organised by ASSOCHAM.

During the last five years, FPI sector has been growing at an Average Annual Growth Rate (AAGR) of around 8.6 per cent as compared to around 3.8 per cent in agriculture and 7.7 per cent in manufacturing, he added.

Mega Food Park creates a synergy between two pillars of the economy- industry and agriculture creating a huge potential for food processing industry in the country.

As far as Rajasthan is concerned, to make the state self- sufficient and leader in processing of perishables and other food products, the state government along with Centre is launching various schemes for the development of food processing sector in the state, the minister added.

Pradeep Wig, Chairman of ASSOCHAM Council on Food Processing and Value Addition, said, "FPI is primarily a government sponsored activity in which many of the companies do come up in a number of states but after passing of time they could not succeed and land acquired for the purpose turned into a real estate business.”

Farming and value addition were the two main necessities in FPI sector and this should be developed in the states otherwise survival of the segment in its existing form would be in difficulty, believed the experts. 

Comment
Related opportunities
  • Others Health Care & Fitness
    Wellbeeing is an integrated clinic and healthcare centre in Bangalore..
    Locations looking for expansion Karnataka
    Establishment year 2013
    Franchising Launch Date 2015
    Investment size Rs. 1 Cr. - 2 Cr
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bangalore Urban District Karnataka
  • Casual dine Restaurants
    About:Hotel Bhagat Tarachand is a decorated name in the culinary..
    Locations looking for expansion Maharashtra
    Establishment year 1950
    Franchising Launch Date 2015
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 500 - 2500 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Quick Service Restaurants
    About Us The Bombay fries is a tiny  cafe tucked away..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Extra Curriculum Activities
    About Real Star Education :- Backed by the indian planetary society,..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 2lac - 5lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities