With the help of targeted government incentives and growing consumer demand, India’s food processing industry is becoming a major force behind value-led economic growth.
Even though India is one of the biggest producers of agricultural products in the world, only 12–13% of its supply is now processed, indicating a huge opportunity. In order to close this deficit, the government invested ₹10,900 crore in the Production Linked Incentive (PLI) program for the food processing sector in 2021.
In addition to promoting innovation and MSME involvement, the program aims to increase high-potential markets such processed fruits and vegetables, ready-to-eat meals, and marine products. Enhancing nutrition and supporting climate-resilient agriculture are the goals of special programs, such as the promotion of millets.
165 businesses, including 68 MSMEs, have been certified under the initiative thus far, exceeding initial goals by generating investments of over ₹9,200 crore and creating more than 3.29 lakh employment.
The industry is well-positioned for long-term growth because to shifting customer preferences and rising demand for quick, clean food items. India’s position in international food markets is anticipated to be strengthened by the program, which will convert its agricultural prowess into globally competitive food goods.
Source – The New Indian Express
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