Indian Food Industry: Poised to Take Off to Bigger Heights | Jain Farm Fresh FooPosted by Jain Farm Fresh Foods Limited on March 18th, 2020 In the last few decades, the Indian food industry has revamped the way we eat, spend money, and even think about food. It has been a journey towards, convenience, variety, varied tastes, all with a sharp focus on health and nutrition. The country’s food industry has been increasing its contribution to world food trade every year. It has remerged as a high-growth, huge-profits sector due to its potential for adding value in our lives, especially in the food processing segment.
Some Statistics The food and grocery segment of the Indian food industry ranks as the 6th largest market in the world and accounts for 70% of the total sales. Coming to the contribution of the food industry within the country, the food processing industry boasts of a whopping 32% share in the country’s food market. It ranks as the 5th largest industry in India vis-à-vis production, consumption and exports. According to Invest India, it is projected that by 2024, the food processing industry will possibly attract billion in investments and generate employment for over 9 million people! That’s huge, to say the least. Also, by 2030, the Indian annual household income is going to triple, making the country the 5th largest consumer in the world. Rapid urbanisation, increase in the women workforce, need for the productive use of surplus food, increase in disposable income and a need to generate employment are some reasons that have resulted in the rapid rise of the food processing industry in India. The Indian food industry plays a vital role in bringing together the two pillars of the Indian economy — agriculture and industry. It has started a revolution in the farming sector, leading to an improved economic condition of the farmers. Generating employment, contributing to capital formation, developing rural areas are some of the significant contributions of the sector in boosting the Indian economy. Jain Farm Fresh Foods Limited (JFFFL) is one such food processing company in India. It brings only 100% natural products to the market in line with its commitment to creating a sustainable future for all. With ‘Farmer First’ as one of its key focus areas, JFFFL works closely with over 10,000 contract farmers in a bid to alleviate their economic condition. The Indian food industry is making waves and adding value to our lives. Onwards and upwards from here. Author: Rohina Chawla Like it? Share it! More by this author |
