As per research report of IIM-Calcutta and Academic Foundation, Indian Food industry is expected to grow 11% annually to reach $65.4 billion (about Rs 4 lakh crore) by 2018.
- Currently Nation’s food industry is valued at $39.71 billion (Rs 2,476.8 billion)
As per report
- Food and grocery constitute a substantial part of India’s consumption for around31% of the consumption basket. On the contrary US spend 9%, Brazil spends 17% and China spends 25%.
- Food is the largest segment in India’s retail sector, which was valued at $490 billion in 2013.
- India’s retail market is expected to ↑ to $865 billion by 2023, which is presently valued at $490 billion.
- The share of modern retail is expected to ↑ 24% of the total retail market from 8% currently.
The report also suggests that India may have benefitted from the presence of foreign businesses in the food supply chain that established backward.
No comments:
Post a Comment