Since its inception in 2002, FoodTec India and the concurrent trade fairs have seen a double-digit growth year-on-year, in terms of exhibitors, visitors and exhibition space, generating interest among suppliers for food and drink industry in the Indian sub-continent, thereby addressing the needs of the business owner, product manager, production line and R&D division.
This year, the show had 48% international participation from over 30 countries, including China, France, Italy, The Netherlands and Turkey.
“The USP of the show has always been the perfect mix of buyers from India and SAARC countries, said Ashwani Pande, managing director, Koelnmesse YA Tradefair.
The exhibition was actively supported and promoted by the Institute of Packaging Machinery Manufacturers of India (IPMMI) and Indian Flexible Packaging & Folding Carton Manufacturers Association (IFCA).
Pande said food processing is an important link between agriculture sector and the consumers. “Importance of logistics and supply chain management is increasing at the global level, especially in food processing. Policy-makers have identified food processing as a key sector which will increase growth in sectors like manufacturing, packaging, supply chain and transportation,” he added.
According to the organisers, the Indian food processing sector is poised to attract USD 33-billion of investments and generate employment of 9-million person days by the year 2024.
According to the data provided by the Department of Industrial Policies and Promotio (DIPP), the food processing sector in India has received around USD 7.54-billion worth of foreign direct investment (FDI) during the period April 2000-March 2017. The FDI inflow into the sector stood at USD 904.90-million during 2017-18. The food processing sector is annually seeing a growth of more than 11%.
The government of India aims to boost growth in the food processing sector by leveraging reforms such as 100% foreign direct investment (FDI) in marketing of food products and various incentives at central and state government level along with a strong focus on supply chain infrastructure.