Indian Food & Agri Industry
The Indian food industry is worth US$ 39.71 billion in FY15-16 and is expected to grow to US$ 65.4 billion by 2018.
USA is the top export destinations Indian processed food products and other major export destinations include Saudi Arabia, UAE, Vietnam, and Iran.
India is the largest milk producer in the world and second largest producer of fruits & vegetables, rice and wheat. Strategic geographic location and continuous increase in raw material production help India export products to other countries at cheaper rates.
Major food item exported from India include cereals, animal products, fresh fruits & vegetables, other processed fruits &vegetables. Among processed food products Basmati Rice forms the most exported commodity from India, followed by Non-Basmati Rice, Guargum, Wheat, Other Cereals etc. Among these items India’s share in the world exports of wheat and other cereals is less than 2%. India is the largest exporter of Guargum in the world accounting for around three-fourth share in the world export.
The potential of Indian food & agriculture sector can be leveraged by exploring new and enhancing existing trade relations, attracting foreign investments.
Highlights of Indian Food and Agri Industry
- Indian food industry is valued at US$ 39.71 billion. A growth rate of 11% is expected when compounded annually.
- The food industry of India is expected to reach USD 65.4 billion by 2018.
- India is the largest milk producer in the world.
- India is the second largest producer of fruits & vegetables, rice and wheat.
- Spices Board of India expects the spice exports of India to reach US$ 3 billion by 2017.