India’s $600 billion food market grows at 7% CAGR, food processing given importance: Official
India's food processing sector is growing at a 7% CAGR, contributing significantly to manufacturing value and employment. Government officials emphasize the sector's strategic importance for farmers and export growth.
Why it matters
The growth of the food processing industry is a key pillar of India's economic development and export strategy.
India’s food market, estimated at $550–$600 billion is growing at 6–7% CAGR, supported by economic growth and urbanisation, Devesh Deval, Joint Secretary, Ministry of Food Processing Industries said.
He said food processing, accounting for nearly 8% of gross value added in manufacturing, is strategically important as it creates greater value for farmers, attracts investment and is the second-highest employment creator in manufacturing.
“The government’s focus is to increase the level of processing across all 16 broad sub-sectors and ensure greater value reaches farmers,” Mr. Deval said on the on the sidelines of Anuga Select India and Anuga FoodTec India 2026 global food & beverages show organised by Koelnmesse in Mumbai.
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