By Aditya Raghunath
Investing.com -- A report by consulting firm KPMG has said that the pandemic could result in massive growth for the food processing industry in India. It said that the Indian food processing industry could hit $470 billion in 2025 from $263 billion today.
The growth will be driven by tier-II and tier-III cities that could start mirroring the trend in metros by buying more processed food as habits formed by the pandemic -- restricted mobility and work from home culture -- take hold, said the report.
The report added that an increase in cold storage, digitized supply chain, and smart warehousing is required to tap the full potential of the food processing industry.
“There is a direct need for increasing cold storage capacity in the absence of which scalability of perishable products has been challenging. Digitized Supply chain, smart warehousing, and logistics using industry 4.0 technologies can help India reduce wastage during storage and transit,” the report said.
“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,” the report said.
Major food processing companies in India include ADF Foods Ltd (NS: AMRN ), Apex Frozen Foods Ltd (NS: APEX ), DFM Foods Ltd (NS: DFMF ), Heritage Foods Ltd (NS: HEFI ), Tasty Bite Eatables Ltd (BO: TABE ). Britannia Industries Ltd (NS: BRIT ) and Nestle India Ltd (NS: NEST ).
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Yes, it is true that food materials are consumed in India at that rate. People in small villages are robbed of things such as a low 's low' things are becoming more disturbed by such people at this world down. I would suggest that such a supplier should take a tough step to put a halt on a grocery store.Like 1