Indian food industry poised for huge growthChristian Fernsby ▼ | November 28, 2019
Gross Value Added by agriculture, forestry and fishing in India is estimated to be $271.00 billion in FY18.
Asian food India is the second largest fruit producer in the world
Topics: India food industry
The Indian food processing industry accounts for 32 percent of the country’s total food market, one of the largest industries in India and is ranked fifth in terms of production, consumption, export and expected growth.
It contributes around 8.80 and 8.39 percent of Gross Value Added (GVA) in Manufacturing and Agriculture respectively, 13 percent of India’s exports and six percent of total industrial investment.
During 2017-18 crop year, food grain production is estimated at record 284.83 million tonnes. In 2018-19, Government of India is targeting foodgrain production of 285.2 million tonnes.
Milk production was estimated at 165.4 million tonnes during FY17, while meat production was 7.4 million tonnes.
As of September 2018, total area sown with kharif crops in India reached 105.78 million hectares.
India is the second largest fruit producer in the world. Production of horticulture crops is estimated at record 314.7 million tonnes (mt) in 2018-19 as per third advance estimates. Total agricultural exports from India grew at a CAGR of 16.45 percent over FY10-18 to reach $38.21 billion in FY18.
In FY2019 agriculture exports were $38.54 billion. India is also the largest producer, consumer and exporter of spices and spice products. Spice exports from India reached $3.1 billion in 2017-18.
Tea exports from India reached a 36 year high of 240.68 million kgs in CY 2017 while coffee exports reached record 395,000 tonnes in 2017-18. ■