NEW DELHI: President Ram Nath Kovind on Sunday said India's food consumption was likely to touch $1 trillion by 2025 and it was a sector with "large business appetite" and had the potential to generate employment for women and the large young population of India.
Speaking at the valedictory session of World Food India, Kovind said, "Food is culture but food is also commerce. India's food consumption is currently valued at $370 billion. It is expected to reach $1 trillion by 2025, in less than a decade. There are opportunities across the entire food value chain in India."
He said there were huge opportunities in areas such as post-harvest facilities, logistics, cold chains and manufacturing, adding that this was a major area for attracting domestic and foreign investment.
On a global scale, the market for Indian food products was massive, he said. "It extends from 1.8 billion people in South Asia to a 30-million strong diaspora population, and to millions more in all parts of the world. As such, the opportunities in the Indian food industry should give you much to chew about. Please digest. And invest," he added.
The President further said the industry could be a huge employer and this was of utmost importance for India which has a huge youth population.
Since women were deeply involved in the food sector, especially in rural areas, he said there was great potential for women to emerge as micro-entrepreneurs and raise overall female participation in the workforce.
Speaking at the valedictory session of World Food India, Kovind said, "Food is culture but food is also commerce. India's food consumption is currently valued at $370 billion. It is expected to reach $1 trillion by 2025, in less than a decade. There are opportunities across the entire food value chain in India."
He said there were huge opportunities in areas such as post-harvest facilities, logistics, cold chains and manufacturing, adding that this was a major area for attracting domestic and foreign investment.
On a global scale, the market for Indian food products was massive, he said. "It extends from 1.8 billion people in South Asia to a 30-million strong diaspora population, and to millions more in all parts of the world. As such, the opportunities in the Indian food industry should give you much to chew about. Please digest. And invest," he added.
The President further said the industry could be a huge employer and this was of utmost importance for India which has a huge youth population.
Since women were deeply involved in the food sector, especially in rural areas, he said there was great potential for women to emerge as micro-entrepreneurs and raise overall female participation in the workforce.
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