Indian Food Industry Blossoming with Growth
The food industry in India, currently valued at US$ 39.71 billion, is expected to grow at a CAGR of 11 per cent to US$65.4 billion by 2018. India’s food & grocery market is the 6th largest in the world.
The Indian food processing industry accounts for 32 % of the country’s total food market & 14 % of the manufacturing GDP.
- 42 mega food parks being set up with investment worth INR 98 Billion.
- India ranks No. 1 in the production of spices, pulses milk, tea, cashew, mango, banana & grapes.
- India ranks No. 2 in the production of wheat, rice, fruits & vegetables, sugarcane, cotton & oilseeds
- Opportunities in supply chain management, contract farming, cold storage development, food processing & packaging etc.
- Union Budget 2016-17 has proposed 100 per cent FDI through FIPB (Foreign Investment Promotion Board) route in marketing of food products produced and manufactured in India.
Indian Hospitality Industry Marching Ahead
Indian hospitality sector is clocking CAGR of 14%. According to the World Tourism
Organisation, 15.3 million foreign tourist arrivals are expected in India by 2025. This will create a
huge demand for the hospitality sector. The foreign investors are tapping this opportunity in
a big way. According to DIPP, the amount of FDI inflow in the industry during the last couple of years was more than US$ 6 Billion.
- Tourism accounts for 6.8% of GDP & is the 3rd largest foreign echange earner.
- India is the most attractive destination for global hospitality industry players.
- Strong Govt. promotion through “Incredible India” & “Athithi Devo Bhava” (Visitors are like God) campaigns.
- Govt. of India has proposed to establish cross cultural linkages and to revive historic maritime cultural and economic ties with 39 Indian Ocean countries.
So come pick your opportunities with a Visit to India’s Most Vibrant Food & Hospitality Event.