Food Processing Industry Growing at 15 Percent Annually: Minister, Indian Food Processing Industry Growth, Indian Food Processing Industry Growing 15 Percent Annually, Food Processing Industry Growth in India

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SME Times News Bureau | 03 Jun, 2010
The food processing industry is now growing at 14.9 percent annually, Union Minister Subodh Kant Sahay informed media in Jamshedpur on Wednesday.

The minister said, "India's food processing sector, which was growing at about 6 percent four years ago, is now expanding at nearly 15 percent annually."

Stating that at present country processes about 10 percent of the total food produced and by 2015 it is expected to rise to 20 percent, he said.

He said the sector has a huge potential, particularly in the European markets, where there is good demand for ready-to-eat food.

The minister said that the ministry has also targeted to increase exports from 1.5 percent to 3 percent.

To grow rapidly, the sector requires an investment of Rs 1 lakh crore, he said.

"," Sahay, who was the Chief Guest at the Twenty20 final Jharkhand Premier League match played between Uttar Pradesh and Bihar at Keenan Stadium in Jamshedpur, said.

Sahay, who was in Jamshedpur for the Twenty20 finals of the Jharkhand Premier League match, said there was a need for a separate food processing policy and that he said, "I will soon talk to state governments in this regard."