The Ministry of Commerce and Industries, Government of India, hosted Indus Foods, an event exclusive to the food sector, and commenced consultation for the food export policy. It is expected to come up with the contours in the coming month.
The event was along the lines of the inaugural World Food India Summit, which took place in New Delhi in November 2017.
That event, which was hosted by the ministry of food processing industries (MoFPI), witnessed the participation of 50 global chief executive officers representing the sector and the inking of Memorandums of Understanding (MoUs) worth $14 billion.
Surge in exports
This step by the commerce ministry was not merely a speculative affair, but in the last two or three years, the country has witnessed a surge in the exports of processed foods.
Samidha Gupta, assistant general manager, Agricultural and Processed Food Products Export Development Authority (APEDA), said, For the last two years, India is witnessing continuous growth in terms of the exports of food products.
In recent times, India is witnessing an increasing trend towards the exports of processed foods due to the awareness about profit and the benefits of processed foods, she added.
Source: FNB News