India’s food processing industry seen at $260-bn in 6-years
With the global economy beginning to perk-up, India’s food processing industry is expected to benefit from this and grow to around$260-billion from the present $200-billion in the next 6-years, an industry expert said.”The food processing industry will grow 30-40 per cent as against the present 15 per cent in the next 10-years,” Ernst and Young’s Associate Director, Shrikanth Kamat, said.
The food sector has a huge potential and the industry’s growth would reach $320-billion by 2020, Kamat said in his presentation on technology for the food processing industry; business potential between Argentina and India, here.Potential for processed foods is estimated to reach from Rs 8,200-billion in 2009-10 to Rs 13,500-billion by 2014-15, he said.
India produces 41 per cent of the world’s mangoes, 30 per cent of cauliflowers, 28 per cent of tea, 23 per cent of cashews, 36 per cent of green peas and 10 per cent of onions. Rest of the article
FSSAI likely to establish food safety special courts soon
In view of the large number of pending cases related to non-compliance of food laws under the Prevention of Food Adulteration Act, the Food Safety & Standards Authority of India (FSSAI) is likely to establish food safety special courts in India. It is learnt that around 1,00,000 cases related to violence of PFA Act and Rules by the food processors in the country are pending in various courts and tribunals.
In order to regulate the food processing industry in the country, the Food Safety and Standards Authority of India has proposed to establish Food Safety Special Courts under the provision of Food Safety and Standards Act, 2006, FSSAI sources said.Rest of the article