Magazines Archives - 2007 November

India poised to become world’s prime food-sourcing hub
Story 14

INDIA’S processed-food exports have increased by 194% since 2003, from €4.7 billion (US$6.88 billion) to €13.8 billion this year, while its local food processing industry is expected to expand at 9%-12% over the next few years, with fruit and vegetable processing in the country projected to grow 10% in the next three years and up to 25% by 2025.

The latest report released by KPMG India and the Federation of Indian Chambers of Commerce and Industry (FICCI) last month said the country has been positioned to turn into a prime sourcing hub as a result of its bourgeoning food trade.

The past year also saw foreign direct investment (FDI) into India double to nearly €2.1-billion in market value. In a separate report by Venture Intelligence, the F&B sector has seen about 11 private-equity deals amounting to €106.4 million in size during the period, compared with last year’s €4.2-million worth of business.

Pradeep Udhas, head of markets at KPMG India, sees the nation “making an important mark in the global food area, both as a large producer and exporter of agricultural products, and as a very large and growing market for processed foods”.

However, due to back-dated technology and inadequate infrastructure, exports in processed foods have remained relatively low-key despite the country being the world’s second-largest fruit-and-vegetable producer.



2007 November Stories:

Global Food & Style Expo 2008

China’s hypermarket sector set for growth

Coach sets up first flagship store in South-east Asia

BHG opens third heartland store in Singapore

India’s rural retail sector shows promise

Metro shifts focus to private labels in India

Dairy Farm’s Wellcome opened in Ho Chi Minh City

Courts reports profits and increased sales, signs exclusive with Dell

Fast Retailing grows home and overseas business

China’s secondary cities picking up credit-card use

F J Benjamin achieves 38% turnover growth

Auric Pacific Group takes over Délifrance Asia

Unilever Indonesia buys over Ultrajaya’s fruit drinks

US restaurant chain makes China its base for Asian expansion

India poised to become world’s prime food-sourcing hub

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