Huge potential to boost exports of processed food: Trade Promotion Council

India’s agri exports are growing at a healthy pace and there is a need to focus on the processed food sector as it holds huge potential to boost the country’s outbound shipments, Trade Promotion Council of India (TPCI) said on Sunday.

Keeping this in mind, the council’s three-day IndusFood expo kickstarted on January 8 in Hyderabad.

It was inaugurated by Additional Secretary in the commerce ministry Rajesh Agrawal and Joint Secretary in the ministry Srikar K Reddy.

Speaking on the occasion, Agrawal said there is a need to create global brands in the food and beverages industry.

Ideally, we need to create 50 brands, then we will be able to do our job well. We must think globally and build brands. We must pay serious attention on how to promote Indian cuisine abroad, TPCI said in a statement quoting Agrawal.

He added that though India is doing well in the agri exports front, our share of processed food is less than 1 per cent in exports of processed food category. We must aspire to take up our share in the global market to 10 per cent.

Mohit Singla, Founder Chairman TPCI said Indusfood has been able to bring institutional buyers from the remotest corners like French Guinea, Mongolia, Papua New Guinea, Reunion, Seychelles, Sierra Leone, Sint Maarten, Syria, Togo and Turkmenistan.

This year’s exclusive focus is on millets. India is globally regarded as the land of vegetarian food with a huge variety of products. So, we have also been focusing on plant-based protein, Singla said.

India’s food and beverages exports at present are at USD 42 billion.

The first ever edition of the expo in Telangana is hosting over 1,300 buyers from over 80 countries interfacing with over 600 Indian exhibitors.

The three-day event is expected to negotiate aggregate business deals worth USD 1 billion. Nearly 50 plus global food retail chain brands and their representatives are taking part in the exhibition, the council said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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