New Delhi: India has the potential to achieve $100 billion in combined exports in the food and beverage, agriculture, and marine products industries within the next five years. This statement was made by Union Minister of Commerce and Industry Piyush Goyal during his keynote address at an interaction with industry stakeholders on the sidelines of Indusfood 2025 in New Delhi. He emphasised that this target is achievable, requiring a combined growth rate of 14-15% for the industries.

The Minister expressed satisfaction with the success of the 8th edition of Indusfood 2025 and commended the Agricultural and Processed Food Products Export Development Authority (APEDA) and the Marine Products Export Development Authority (MPEDA) for organising the event. He noted that both organisations played crucial roles in India’s export of $50 billion worth of goods last year.

He further informed that the government has allowed 100% foreign direct investment in the food and beverage sector, permitting full foreign ownership and management, and simplifying work permit processes for those looking to work or set up businesses in India.

Goyal urged Indian companies to invest in innovation, improved packaging, sustainability, and mechanisation to enhance hygiene in their processes. He encouraged stakeholders to develop high-value nutritional products that could be utilised in the government’s food security programmes.

Highlighting the government’s efforts to promote sustainability in the food industry, Goyal mentioned the focus on sustainable farming practices and the promotion of organic farming and products. He noted the significant growth potential in organic farming and stated that the government has eased certification processes for organic foods while ensuring traceability and maintaining standards.

The Minister also announced plans to expand food testing laboratories across the country and welcomed suggestions on equipment and processes for establishing high-quality testing facilities. He urged stakeholders to explore different regions of India to gain insights into the diverse tastes and flavours the country offers. Goyal expressed hope that the Indian food and beverage industry and its partners would continue to innovate, adhere to global standards, and expand the reach of Indian products internationally. He noted the success of pre-packaged, ready-to-eat foods from India, such as millets, pickles, and spices, in foreign markets.

Indusfood, launched by the Trade Promotion Council of India with the support of the Department of Commerce in 2017, is an export-focused trade fair. It provides a platform for Indian food and beverage companies to showcase their products, network with international importers, distributors, and retail chains, explore business opportunities, and drive international expansion. It also serves as a one-stop platform for international importers to connect with a diverse range of suppliers across product categories, simplifying their sourcing from India.

BI Bureau