India’s food processing industry is witnessing impressive growth, largely driven by the government’s Make in India initiative.
Recent data underscores the sector’s potential, with the gross value added (GVA) rising from ₹1.61 lakh crore in 2015-16 to ₹1.92 lakh crore in 2022-23.
This growth represents an average annual increase of approximately 5.35% over the past eight years, reflecting a positive trajectory for the industry.
In line with this expansion, the food processing sector has also contributed to job creation.
Employment within the industry grew from 17.73 lakh in 2014-15 to 20.68 lakh in 2021-22.
This increase in employment highlights the sector’s role in enhancing livelihoods and driving economic progress.
Make In India Fuels Sector’s Expansion
The government attributes much of the food processing sector’s growth to the Make in India scheme, which has prioritized local and indigenous food production.
The initiative has introduced various incentives that not only foster domestic talent but also encourage innovation and expansion within the food processing industry.
As a result, these efforts are benefiting the agricultural sector, which is navigating challenges such as uncertainties related to US tariff policies.
Positive Export Performance
Despite global challenges, government sources remain confident about the sector’s future. They point to the steadily increasing contribution of food processing to India’s export sector.
Also Read: India’s Ports Modernisation Efforts Accelerate Under Maritime India Vision 2030
In 2023-24, agri-food exports accounted for approximately 23.4% of total exports, up from 13.7% in 2014-15, showcasing the sector’s rising prominence in international markets.
Landmark Initiatives Revitalize The Sector
Several landmark initiatives have been crucial in rejuvenating the food processing sector.
Over the past year, the government launched 1,608 new projects, including the establishment of 41 mega food parks, 394 cold chain projects, and 75 agro-processing cluster projects.
These projects are designed to enhance farmer incomes, reduce agricultural waste, and increase processed food exports. Collectively, they aim to double the earnings of farmers, contributing to rural economic development.
Job Creation And New Industries Spur Growth
The initiatives have also created 2.84 lakh new jobs, further fueling the sector’s growth.
Additionally, the government is encouraging the production of emerging products such as makhana (fox nut), expanding India’s presence in the global superfood market and diversifying its economic base.
Pathway For Future Innovation
This remarkable growth story offers valuable insights into the future of India’s food processing industry.
With continued innovation and strategic investments, the sector is poised to become an even more significant player in both the national and global markets.
To read more such news, download Bharat Express news apps
