India is aiming at a two-fold hike in exports of food items in the next five years which will help in doubling the income of farmers and those associated with the food and agriculture industry, the Ministry of Commerce revealed.
According to a PTI report: To give a further boost to India’s agro and food exports, the Department of Commerce in association with Trade Promotion Council of India (TPCI) is organizing ‘Indus Food’- a mega international food and beverage trade show.
To be organized at India Expo Mart in Greater Noida from January 18, the two-day event will be inaugurated by Union Commerce and Industry Minister Suresh Prabhu.
Indus Food will see the participation of over 400 exhibitors, including representations from over 12 states and departments.
Further, global buyers from 43 nations will visit the show.
The event is expected to provide a good platform to Indian exporters to access global market without having the trouble of going to overseas trade fairs.
India’s food market stood at US $193 billion in 2016, which is estimated to grow to US $540 billion by 2020.
This is also likely to see doubling of Indian food exports in next five years from US $31 billion in 2015. This industry is growing annually by 12 per cent.
“Indus Food provides us with big opportunity to host the world F&B market in India and showcase to the world big strides that India is taking in the food and agro sector under Prime Minister Narendra Modi,” said TPCI Chairman Mohit Singla.
Prabhu expressed hope and said, “Indus Food expo will not only benefit exporters but also help in improving the financial condition of our farmers and those engaged in agricultural business.”
To promote food exports, TPCI is being supported by Department of Commerce in hosting one of the largest buyer-seller meets in the food segment in India.
Many top personalities, including Iran’s Deputy Minister of Agriculture, Ali Akbar Mehrfard; Saif Sultan Al Sheibany, DG public authority for food reserves of Oman, Al Kafeel religious trust of Najaf and Karbala of Iraq will also take part in the international expo.
Today India stands at sixth place in the global food and grocery market, but India’s share in food items exports is just 12 per cent, which the government is trying to take up to 20 per cent.
India has achieved impressive results in exports of some items like prawns which has seen a jump of 17 per cent between 2012-17, while grapes and turmeric exports have grown by 12 per cent.
To give a boost to food processing industry, Commerce and Industry Ministry is also formulating an aggressive agri export policy separately.
With such a powerful global trade show, India will surely be able to make the best utilization of its huge production and consumption power.