The Indian food processing sector is all set to witness significant future growth. The food processing industry in India has fast emerged as a profitable business in light of the value addition it offers. As such, it is one of the high-priority sectors earmarked for tremendous growth by the Government.
The high earning potential and the forecast for high growth in the future have made the export of processed food products a lucrative business option for individuals and entities. However, before such parties can undertake the export of processed food products, they need to obtain an APEDA Registration mandatorily required for anyone looking to export scheduled products from India.
Export of Processed Food Products Surges by 27% during Apr-Feb 2020-21
To further add to what was already a thick stack of good news is the recent statement declaring that India’s export of processed food products is up 27% during April-February 2020-21 despite the challenge posed by the Covid-19 pandemic.
The growth has been made possible by major product exports such as processed fruits, vegetables, and juices, pulses, groundnuts, cereals, alcoholic beverages, milled products, oil meals, and guar gum.
Mr. M. Angamuthu, honorary Chairman of APEDA, said there is an increasing demand for processed fruits & vegetables, pulses, and cereal preparations in the Far East, the Middle East, the UK, and the USA. As such, the increasing trend for processed food exports from India expects to continue forward in 2021-22.
APEDA, too, deserves applause for the role it has played in the increase in exports. Steps such as product promotion meetings, virtual buyer-seller meets, promotional activities, webinars, financial assistance schemes all helped generate tremendous interest among global importers, resulting in huge demand for processed food products.
Importance of the Indian Food Processing Industry
The food processing sector in India is important for several reasons.
- It is a vital link and promotes synergy between agriculture and manufacturing, perhaps the two most critical pillars for India’s growth.
- The rapid growth and continuous improvement in the food processing sector help achieve favorable terms of trade, both internally and internationally.
- It makes a crucial contribution in ensuring India’s food security and provides a livelihood source to millions of Indians.
- It accounts for 32% of India’s food market, 14% of India’s manufacturing GDP, 13% of India’s exports, and 6% of the total industrial investment.
What is APEDA?
APEDA, or the Agricultural and Processed Food Products Export Development Authority, established in December 1985 by the GOI under the APEDA Act. Apart from several other functions, the governing body is primarily responsible for promoting exports of scheduled products from India. As highlighted earlier, an individual or firm must necessarily obtain an APEDA registration if they want to undertake the export business in India.
Moreover, you require any kind of guidance related to the APEDA Registration, please feel free to contact our business advisors at 8881-069-069.
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