Summary:

India’s food processing sector is set to more than double from Rs. 26,60,155 crore (US$ 307 billion) in 2023 to Rs. 60,65,500 crore (US$ 700 billion) by 2030. Expected to reach Rs. 1,86,29,750 crore (US$ 2,150 billion) by 2047, the sector thrives on strong agricultural growth and rising processed food demand.

Once facing food scarcity, India’s agriculture sector is now a surplus powerhouse. Growth for 2024-25 is estimated at 3.8%, with foodgrain production rising by 2%, supporting Viksit Bharat. Agriculture exports surged from Rs. 3,37,935 crore (US$ 39 billion) in 2013-14 to Rs. 4,50,580 crore (US$ 52 billion) in 2022-23, strengthening global trade presence.

Source: IBEF

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