India's share in global food trade to double to 3 per cent by 2015
11 Mar 2011
India's share in global food trade is expected to rise to 3 per cent over the next four years from 1.5 per cent at present, according to a vision document prepared by the ministry of food processing industries (MFPI).
The food processed sector in India is also expected to see an increase in the level of processing of perishables from 6 per cent to 20 per cent while value addition by food processing industries would increase to 35 per cent by the year 2015, from the current 20 per cent, according to the `Vision 2015' document.
`Vision 2015' envisages an increase in the level of food processing in order to exploit both the domestic and international market potential for processed food products.
The document, approved by the government, envisages an integrated strategy for promotion of agribusiness.
The food processing sector in the country grew at an average annual rate of 7 per cent in 2004, which has gone up to over 14 per cent in 2010. The over-all processing level was 6 per cent with average value addition of 20 per cent in 2004. This has gone up to 11 per cent and 26 per cent, respectively, minister of state for food processing industries Harish Rawat informed the Rajya Sabha today.
He said the fragmented supply chain and lack of adequate processing infrastructure along the value chain and the very low processing levels in the country have resulted in considerable amount of wastage of agri and horticulture produce.