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Food processing industry set for a boom

Dec 9, 1999

The US$ 70 bn Indian food processing industry is set to double by 2005. This was the inference of a recent study conducted by the government of India. The conclusion was drawn on the basis of rapid growth in India's food production. India is already the world's second largest food producer and production is likely to double in the next decade. This will also mean higher disposable incomes and thus higher demand for processed food. This implies increased food processing, warehousing and distribution needs of the country.

This will also lead to investments in cold storages, modernising storage points across the country and developing sophisticated logistics technology. Mr Utpal Sen Gupta, chairman, Foodpro99 sums it up by saying: "Large opportunities will unfold in the entire chain, from farming to commodity processing, through to value-added branding and large scale retailing".

All these factors will attract a large number of global food majors to set up base in India in future. Already, quite a few new entrants like Pillsbury, Corn Products, Kellogs, Sara Lee and Le Bon are making their presence felt in the segment. The old majors like HLL, Britannia, Nestle, Cadbury, International Bestfood etc. are also making huge investments to beef up their food processing lines, distribution networks, cold storage chains to tap the ensuing demand.

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