The contribution of food industry to the Indian economy

Food

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Growth of food industry
The Indian food industry accounts for around 32 % of the total food market of the country, and the food processing industry is among the largest sectors that is ranked 5th in fields like export, production and consumption. The future is bright for the food industry and is likely to increase in the coming years even in the export segment. The domestic food market will reach $ 258 billion by 2015, and the food grain production reached 251.12 in 2015. India is also an aggressor when it comes to production like fruits and vegetables, and that is why it has given rise to industries like packaged foods, sauces, pickles, juices, ready to eat meals, beverages, snacks and more. The food industry is also related to livestock and agriculture, and thus meat production and milk and seeds are popular foods that are now a very large industry. The food processing industry is now growing at a faster speed and employing more and more people who are professionals as well as unskilled too.

Current position of the food industry
The domestic and the international markets are ripe and more open today. This is the right time to invest in the food industry and explore various markets. The investments are going to triple in processed food industry. The government has also taken some major initiatives to help the food processing sector. One also has to know about the growing online food ordering industry that is in its initial stages, but has hopes to expand and grow rapidly due to the young population that is prevailing in the country. The food service is also expected to reach $ 78 billion by 2018. There are various international players already in the Indian market who have invested a huge amount in the Indian market.

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