17th Edition Of ANUTEC:
At the 17th edition of ANUTEC – International FoodTec India, held in Mumbai, prominent figures from the industry and government unveiled a promising future for the food processing sector in India.
- It is on a remarkable trajectory of growth, poised to become one of the key drivers of the nation’s economy.
- The food processing sector is a crucial component of the overall food supply chain.
- It involves the transformation of raw agricultural and livestock products into processed and value-added food products that are suitable for consumption.
- This sector encompasses a wide range of activities, technologies, and processes aimed at making food products safer, more convenient, and longer-lasting, while also enhancing their flavor and nutritional value.
- The Food processing sector significantly contributes to India’s economy, accounting for 13% of exports and 6% of industrial investment.
- The sector has attracted substantial foreign direct investments (FDI), with USD 4.18 billion pouring in from 2014 to 2020, indicating confidence in its future prospects.
- It is expected to generate a whopping 9 million jobs by 2024.
- Also, by 2030, India is set to become the world’s fifth-largest consumer of food and food technology, as household consumption quadruples.
