A Study on Food Processing Industry

Abstract

The food processing industry is an important sector of the Indian economy. Nearly 52% of the Indian household budget is spent on food items and the share of processed food entering the market is expected to rise rapidly.  In terms of Foreign Investment and number of joint ventures/ foreign collaborations, the consumer food segment has top propriety. The Indian market is growing rapidly and Indian industry is making remarkable progress in various Industries like Manufacturing, Precision Engineering, Food Processing, Pharmaceuticals, Textile & Garments, Retail, IT, Agro and Service sectors. SMEs are finding increasing opportunities to enhance their business activities in core sectors.

The objective of the present study is to examine the Food Processing Industry in India.  It is one of the largest industry in terms of production, consumption, export and growth prospects. The government has already declared food-processing sector as a priority sector with a number of fiscal reliefs and incentives to encourage commercialization and value addition to agricultural produce. Food processing industry at all the levels of tiny, small, medium and large scale provides several promising opportunities not only for entrepreneurs but also financial institutions like Banks.

Central and State governments have come up with various kinds of support including infrastructure, financial support, modernization, setting up of infrastructure, testing facilities and even for human resource development also.