The Food Industry in India is poised for huge growth, increasing its contribution to world food trade every year. The sector has emerged as a high-growth and high-profit sector due to its immense potential for value addition, particularly within the food processing industry. The industry, which is currently valued at US$ 39.71 billion, is expected to grow at a Compounded Annual Growth Rate (CAGR) of 11% to US$ 65.4 billion by 2018.
Accounting for about 32% of the country’s total food market, the Government of India has been instrumental in the growth and development of the food processing industry. The government through the Ministry of Food Processing Industries (MoFPI) is making all efforts to encourage investments in the business. It has approved proposals for joint ventures (JV), foreign collaborations, industrial licenses, and 100% export oriented units (EoUs).
The economy of Gujarat has significant agricultural as well as industrial production within India. Major Agricultural produce of the state include groundnuts, dates, sugar cane, milk and milk products.