India is set to make a push to become the preferred sourcing partner for the global food processing sector and will conduct a series of seminars and conferences to discuss how to expand international collaborations and boost exports.
On February 17, Dr. Abhilaksh Likhi, Additional Secretary, Ministry of Agriculture and Farmers Welfare, will open the 'Food, Agriculture and Livelihood' fortnight at the India Pavilion at EXPO2020 Dubai. The fortnight will highlight India's competence in industries such as food processing, horticulture, dairy, fisheries, and organic farming, as well as the numerous investment prospects available.
International Year of Millets
The millets food festival, the introduction of the Millets Book, and different seminars focusing on its health and nutritional advantages will all take place over the fortnight as part of the major theme of 'Millets.' It's worth noting that the United Nations General Assembly recently passed a resolution recognizing 2023 as the "International Year of Millets," which was sponsored by India and backed by more than 70 countries.
Agriculture and allied Sector: The biggest source of Income
Agriculture, together with its allied industries, is the country's biggest source of income. The industry accounts for around 21% of the overall Gross Domestic Product (GDP). India is one of the top 15 agricultural exporters in the world, with total exports of agricultural and associated products totaling US$ 41.25 billion in FY21.
Under the automatic route, the government has approved 100 percent FDI in the marketing of food items and food product e-commerce to tap into the sector's untapped potential. The PLI plan has also authorized an incentive outlay of Rs 10,900 crore (US$ 1,484 million) for the food processing industry. Furthermore, the comprehensive Agriculture Export Policy was implemented to increase India's agricultural exports to US$ 60 billion by 2021-22 and US$ 100 billion in the next years.
With global consumption returning to pre-pandemic levels, the sector is expected to see increasing investment in agricultural infrastructures such as irrigation facilities, warehousing, and cold storage. Several senior government officials will also be attending the different sessions during the fortnight. The fortnight of 'Food, Agriculture, and Livelihood' will end on March 2nd.
