India's food ecosystem offers huge opportunities for investments with stimulating growth in the food retail sector, favorable economic policies, and attractive fiscal incentives.
Through the Ministry of Food Processing Industries (MoFPI), the Government of India is taking all necessary steps to boost investments in the food processing industry in India. The government has sanctioned 41 food parks funded under the Mega Food Parks Scheme of which 38 have final approval. In 2014, there were only 2 Mega Food Parks in the country. As of 1 August 2021 there are 22 Mega Food Parks are functioning in the country. Now the target is to take their number to more than 40.
India records close to 15% rise in export of agricultural and processed food products in April-October.
- By 2025, India’s food processing industry is expected to be worth over half a trillion dollars.
- By 2030, Indian annual household consumption to treble, making India 5th largest consumer
100% FDI is permitted under the automatic route in food processing industries in India.
100% FDI is allowed through the government approval route for trading, including through e-commerce in respect of food products manufactured or produced in India.
- 296.65 mn tonnes of horticulture food grains in 2019-20
- Milk production of 198.4 mn tonnes during 2019-20
- Ranks 3rd in the world in Egg production with 114.38 billion in 2019-20
- Second largest producer of fish in the world — total fish production in 2019-20 was 14.16 MT with 7.56% of Global production
- Food grocery and food services segments, growing at a CAGR of 25% and 15%, respectively, are majorly dominating the Food Retail Sector of India.
- India shipped 12,89,651 MT of seafood worth $6.68 bn during 2019-20
- The export of other cereals increased from $44.9 mn in April-June 2020 to $231.4 mn in April-June 2021
- The export of meat, dairy and poultry products increased from $483.5 mn in April-June 2020 to $1022.5 mn in April-June 2021