India targets $100 billion in F&B, agriculture, marine exports by 2030: Piyush Goyal
New Delhi: India is aiming to achieve $100 billion in combined exports from the food and beverage (F&B), agriculture, and marine products industries over the next five years, Commerce and Industry Minister Piyush Goyal announced on Friday. Addressing F&B industry stakeholders at the Indusfood 2025 event, the Minister stated that this target is achievable, with the sectors needing to grow at a combined annual rate of 14-15 per cent.
Key contributions by APEDA and MPEDA
In his keynote speech, Minister Goyal commended the Agricultural and Processed Food Products Export Development Authority (APEDA) and the Marine Products Export Development Authority (MPEDA) for their crucial role in India reaching $50 billion in exports last year.
Government initiatives to boost the F&B sector
The Minister also shared important updates on the government's efforts to boost the F&B industry. He highlighted that the government has now allowed 100 per cent Foreign Direct Investment (FDI) in the F&B sector, alongside a more accessible process for work permits for foreign nationals looking to set up businesses or work in India.
Minister Goyal urged Indian companies to invest in innovation, improve packaging, and focus on sustainability. He encouraged stakeholders to mechanise their processes to improve hygiene standards and create high-value, nutritious products that could support the government’s food security programmes.
On sustainability, Goyal stressed that the government is making strides to ensure farming practices are environmentally friendly. He noted the growing potential of organic farming and the steps taken to streamline certification processes for organic products, ensuring integrity and traceability within the system.
Expansion of food testing labs and promoting local flavours
The government is also working to expand food testing laboratories across the country. Goyal invited suggestions for equipment and processes to set up high-quality testing facilities. He also encouraged stakeholders to explore different regions of India to discover the diverse flavours and tastes the country has to offer, which could help drive innovation in the F&B sector.
Global success of Indian products
Minister Goyal further pointed out the success of Indian pre-packaged, ready-to-eat foods abroad. He highlighted the growing demand for products such as millets, pickles, and spices, which are becoming increasingly popular both in domestic and international markets.
IANS