New Delhi, Jan 10 (NationPress): India has the capacity to attain $100 billion in total exports from the food & beverage (F&B), agriculture, and marine products sectors over the next five years, as declared by Commerce & Industry Minister Piyush Goyal on Friday.
During his keynote speech at a meeting with F&B industry stakeholders on the sidelines of Indusfood 2025 here, the minister underscored that this target is quite feasible, requiring a combined growth rate of only 14-15 percent.
He praised the Agricultural and Processed Food Products Export Development Authority (APEDA) and the Marine Products Export Development Authority (MPEDA) for their significant contributions to India achieving $50 billion in exports last year.
The Minister also shared that the government has permitted 100 percent Foreign Direct Investment (FDI) in the F&B sector, alongside facilitating work permits for those looking to work or establish businesses in India.
Goyal encouraged Indian firms to invest in innovation, improved packaging, sustainability, and to mechanize their operations for enhanced hygiene. He also motivated the stakeholders to develop high-value nutritional products that could support government food security initiatives.
On the topic of sustainability in the food sector, the minister indicated that the government is prioritizing sustainable farming practices and promoting organic farming and products. He mentioned the vast growth potential in organic farming, as the government has simplified the certification processes while ensuring integrity and traceability to prevent irregularities.
Goyal also noted that the government aims to expand food testing laboratories nationwide and is open to suggestions regarding the equipment and methodologies required for establishing high-quality testing facilities. He encouraged stakeholders to explore various regions of India to discover the diverse tastes and flavors available and expressed hope that the Indian F&B industry and its collaborators will consistently innovate and uphold global standards, taking Indian products to international markets.
The minister further pointed out that pre-packaged, ready-to-eat foods from India have gained popularity overseas, with items such as millets, pickles, and spices gaining traction as more pre-packaged products successfully penetrate both domestic and international markets.
