The Indian government’s dream to attain USD 5 trillion economy by 2027 requires the country to grow at ten per cent per annum for the next five years. With Covid 19 almost resting in the backburner, best way to achieve this target is to involve the highest supporter of livelihood of the Indian population and 19% contributor to the GDP; being Agriculture. Today’s blog throws light on the same.
The food processing sector would be able to increase farmers’ income besides creating thousands of jobs, a study undertaken by Confederation of Indian Industry (CII) with McKinsey & Company being the knowledge partner. According to the report ‘Unlocking Value in India’s Food Processing Sector’ which was released during the 14th edition of FoodPro 2022, the food processing industry is expected to reach USD 530 billion during the next five years.
As per the report, India has emerged as a global agricultural powerhouse and it is the second largest in production of cereals, pulses, fruits and vegetables, sugar and milk.
NPowersU Expert Opinion
With quantum of wastage that occurs while transporting produce from the farms to the end user, holistic push to food processing near the place of produce will be a step in the right direction in the Current Affairs. It will also supplement the economy. Policies and more incentives for erecting, maintaining and operating storage facilities will further boost the said initiative and make every farmer ‘an apple of everybody’s eye’.
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