India Aims for $100 Billion in Food Exports
India is poised to significantly boost its exports in the Food & Beverage (F&B), agriculture, and marine products sectors. Union Minister of Commerce & Industry, Shri Piyush Goyal, announced this ambitious goal during his keynote address at Indusfood 2025 in New Delhi. He stated that the country could reach $100 billion in combined exports within the next five years. This target, he emphasized, is achievable with a combined growth rate of 14-15% across these industries.
The Minister’s remarks come at a time when the Indian government is keen to enhance its global trade footprint. The success of the 8th edition of Indusfood 2025 reflects the government’s commitment to supporting the F&B industry. Goyal praised the Agricultural and Processed Food Products Export Development Authority (APEDA) and the Marine Products Export Development Authority (MPEDA) for their roles in facilitating $50 billion in exports last year.
Government Support for Foreign Investment
The Indian government is actively encouraging foreign investment in the F&B sector. During his address, Minister Goyal highlighted that 100% Foreign Direct Investment (FDI) is now permitted. This policy allows for complete foreign ownership and management of businesses in the sector. The government has also streamlined the process for work permits, making it easier for foreign nationals to establish businesses in India.
This open-door policy aims to attract global players to invest in India’s F&B landscape. By allowing full foreign ownership, the government hopes to bring in expertise and innovation. This investment can lead to improved production processes and higher-quality products. The Minister urged Indian companies to embrace innovation, focusing on better packaging and sustainability. He encouraged stakeholders to develop high-value nutritional products that could support the government’s food security initiatives.
Emphasizing Sustainability in Food Production
Sustainability is a key focus for the Indian government as it seeks to modernize its agricultural practices. Minister Goyal stressed the importance of making farming processes sustainable. He noted that the government is promoting organic farming and food products, recognizing the significant growth potential in this area.
To facilitate this growth, the government has simplified the certification process for organic foods. This move aims to ensure traceability and maintain the integrity of organic products. By easing these regulations, the government hopes to encourage more farmers to adopt organic practices.
Additionally, Goyal announced plans to expand food testing laboratories across the nation. These facilities will ensure that food products meet high safety and quality standards. The government is open to suggestions on the necessary equipment and processes for establishing these laboratories. This initiative will not only enhance food safety but also boost consumer confidence in Indian food products.
Expanding Global Reach of Indian Products
The Indusfood trade fair, launched in 2017 by the Trade Promotion Council of India, serves as a vital platform for Indian F&B companies. It aims to connect these companies with international importers, distributors, and retail chains. The fair provides an opportunity for Indian businesses to showcase their products and explore new markets.
Minister Goyal highlighted the success of Indian pre-packaged foods abroad. Products like millets, pickles, and spices have gained traction in international markets. This trend indicates a growing demand for Indian food products globally. The Minister encouraged stakeholders to travel across India to discover the diverse tastes and flavors the country has to offer. By fostering innovation and adhering to global standards, the Indian F&B industry can enhance its competitiveness. The government aims to support these efforts, ensuring that Indian products not only meet domestic needs but also find success on the world stage.
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