‘Post Covid world looks promising for India’s food processing industry’
The post Covid-19 world looks promising ...
The post Covid-19 world looks promising for India’s food processing industry as it recalibrates itself to capitalize on increased opportunities in the industry and gears up to capture new markets, a KPMG report on Indian food processing industry released in May has said. According to the report, the optimism for the industry emanates from the projection of exponential growth in demand for processed food in rural areas and countries in tier 2/3 cities. Moreover, a lot of untapped potential remains to enhance India’s export to the top 10 food importing countries of the world where the country at present has a limited presence.
The report had recommended that the government can support the exporters by negotiating Free Trade Agreements (FTAs), lowering Non-tariff barriers (NTBs) and expeditious implementation of Remission of Duties and Taxes on Exported Products (RoDTEP) scheme. This will help in larger penetration of Indian value added food products in bigger global markets.