Vastavam web: India’s food consumption is likely to touch USD 1 trillion by 2025 and the country’s entire food value chain offers huge opportunities for both domestic and foreign investors, President Ram Nath Kovind said on Sunday.It is a sector with “large business appetite” and has potential to generate employment for both women and large young population of India, he said.
Speaking at the valedictory function of the World Food India, Kovind said, “Food is culture but food is also commerce. India’s food consumption is currently valued at USD 370 billion. It is expected to reach USD 1 trillion by 2025, in less than a decade. There are opportunities across the entire food value chain in India.”
Stating a focused emphasis on modern food processing can change things, the President said both investment as well as technological solutions are required to reduce food wastage which at present are at regrettable levels.For instance, close to 16 per cent of India s guava crop is wasted, as are 10 per cent of the country’s mango and apple crops, he added.The President further said that the industry can be a huge employer and this is of utmost importance for India which has huge youth population.
Since women are deeply involved in the food sector especially in rural areas, he said there is a great potential for women to emerge as micro-entrepreneurs and raise overall female participation in the workforce.The President also gave away awards to best start-up firm Oak Analytics and the winner of a Hackathon challenge a team of students from Coimbatore-based Kumaraguru College of Technology.
He said one of the start-ups has adapted Raman Spectroscopy, the discovery of India s very own Nobel Prize winning scientist Dr C V Raman, into a low-cost hand-held device that can instantly detect food adulteration. This technology can save billions in food fraud.On diversity of India’s food culture, the President said there are 29 states in India and may be 290 different recipes for biryani or khichdi.
“From Taenga in Assam to Sarson ka Saag in Punjab, from the Dhokla in Gujarat to the Dosa in Tamil Nadu and other states of the South, there is so much to choose from. I would say that one human lifetime is not enough to experience the range and richness of Indian food!”Citing examples how Indian food been adapted to local tastes abroad, he said, Butter chicken can be found from Brazzaville in Congo to Berlin in Germany