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The Indian food industry, poised for massive growth, continues to increase its
contribution to world food trade. In India, the food sector has emerged as a high-growth
and high-profit sector, given its immense potential for value addition, particularly in the
Food Processing Industry.
The processed food market , currently valued at USD 322 billion in 2016, is expected to grow to US$ 543 billion by 2020 at a Compound Annual Growth Rate (CAGR) of 14.6 per cent. For the next 5 years the food industry is expected to grow to US$ 958 billion by 2025, at a CAGR of 12 per cent to account for increasing saturation of the market.
The Ministry of Food Processing Industries has been implementing several schemes
under the umbrella of the ‘Pradhan Mantri Kisan Sampada Yojana’ (formerly known as
SAMPADA - Scheme for Agro-Marine Processing and Development of Agro-Processing
Clusters). These schemes, with an allocation of INR 60 billion (US$ 900 million) for the
period 2016 to 2020, are expected to leverage investments of INR 314 billion (US$ 5
billion) for development of infrastructure in the food processing sector.
The Government, through the Ministry of Food Processing Industries (MoFPI), is making
every effort to boost investments in the sector. Encouraged by proactive policy
measures of the Government of India and the state Governments, several foreign
companies, as well as domestic corporates, have set up processing units on their own or
through joint ventures (JV) and often in collaboration with other players.