New Delhi
India’s food consumption is likely to touch $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 today.

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.

Focusing on food processing will not only reduce “unacceptable level” of food wastage but also help doubling farmers’ income, he added.

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 $370 billion. It is expected to reach $1 trillion by 2025, in less than a decade. There are opportunities across the entire food value chain in India.”

There are huge opportunities in areas such as post-harvest facilities, logistics, cold chains, and manufacturing, he said, adding that this is a major area for attracting domestic and foreign investment.

On a global scale, the market for Indian food products is massive, he said and added, “It extends from 1.8 billion people in South Asia to a 30 million strong diaspora population, and to millions more in all parts of the world. Stating a focused emphasis on modern food processing can change things, the President said both investment and technological solutions are required to reduce food wastage which at present is at regrettable levels.