New Delhi, Jan 10 (IANS): India has the potential to reach $100 billion of combined exports in the food & beverage (F&B), agriculture, and marine products industries in the next five years, Commerce & Industry Minister Piyush Goyal said on Friday.
In his keynote address at an interaction with the F&B industry stakeholders on the sidelines of Indusfood 2025 here, the minister emphasised that the target is not very ambitious as the industries need to grow at an achievable combined rate of 14-15 per cent.
He complimented the Agricultural and Processed Food Products Export Development Authority (APEDA) and the Marine Products Export Development Authority (MPEDA) for having played a key role in India exporting $50 billion of goods last year.
The Minister also informed that the Government has allowed 100 per cent Foreign Direct Investment (FDI) in the F&B sector, apart from which the government also allows work permits easily for those who want to work or set up businesses in India.
Goyal urged the Indian companies to invest in innovation, better packaging, sustainability, and to mechanise their processes to make them more hygienic and encouraged the stakeholders present to bring out high-value products on nutrition that can be used by the government for its food security programmes in the country.
On promoting sustainability in the food industry, the minister highlighted that the government is prioritising making farming processes sustainable and is working to promote organic farming and food products. There is a tremendous growth potential in organic farming and the government has eased certification processes for organic foods while maintaining the sanctity and traceability to ensure no irregularities creep in the system, he noted.
Goyal also said that the government is looking to expand food testing laboratories across the nation and also noted that it will welcome suggestions on equipment and processes needed to set up high-quality testing laboratory facilities. He urged the stakeholders to travel to other parts of India to acquire ideas on the varied tastes and flavours the country has to offer and hoped that the Indian F&B industry and its partners will continue to innovate and bring global standards in the country and take Indian products to the world.
The minister further highlighted that pre-packaged, ready-to-eat foods from India have also found success abroad, and millets, pickles, and spices have found traction as more pre-packaged foods are finding markets both in India and internationally.
–IANS
sps/vd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
