The food processing market in India is going through a phase of growth due to the change in consumers’ preference, change in technology and supportive policies from the government. Food processing is among the most rapidly growing industries in the Indian economy and is experiencing rising investment, domestic and foreign, which in turn is spurring development and new ideas. One of them is the growing middle class in India; the increased purchasing power means that people consume more processed and packaged foods. This trend has also been influenced by the increasing urbanization and more specifically consumers’ busy life schedules that compel them to look for convenient foods. This has made firms to search for more markets and new products to produce and market to the new markets that are emerging.
Technological developments are other factors that are important. Automation and artificial intelligence have improved efficiency while smart packaging technologies are helping in improving the quality and shelf life of products. Also, sustainability is being achieved in the supply chain hence cutting costs, waste and enhancing organizational and industrial flow thus fueling the growth of the sector. It is worth underlining the importance of governmental actions for the development of the industry. Interventions like Pradhan Mantri Kisan Sampada Yojana (PMKSY) and various incentives under the Production Linked Incentive (PLI) scheme are aimed at improving the food processing facilities, improving export edge, and job creation.
In the current issue, we introduce you to the top companies in this segment. In this issue, Industry Outlook has identified the select few companies that have done particularly well in this industry with a high level of dedication. We have found that these companies have gone the extra mile in proving their commitment to meet the customer needs in an integrated manner.
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