Agriculture

Indus Food Expo to generate business worth $3 billion: JS

Top global buyers, foreign government representatives are expected to enter partnerships with Indian companies in the expo 

Indus Food Expo to generate business worth $3 billion: JS

India is aiming at a two-fold hike in exports of food items in next five years which will help in doubling farmers’ income and those associated with the food and agro industry. To give further boost to India’s agriculture and food exports, the Department of Commerce in association with Trade Promotion Council of India (TPCI) is organising ‘Indus Food’– a Mega International Food and Beverage Trade show at India Expo Mart In Greater Noida from January 18, 2017.

The 2-day event is expected to be inaugurated by Union Commerce and Industry Minister, Suresh Prabhu. The Expo is expected to see participation of over 400 exhibitors including representations from over 12 states and Departments. Global Buyers from 43 nations will visit the show. The event is expected to provide a good platform to Indian exporters to access global market without having the trouble of going to overseas trade fairs.   
 
“Doubling farmers’ income is possible only when our agriculture exports grow by 18-20% and for this we need integration with global marketplace. If this happens, our food exports will cross US$60 billion which stood at US$31 billion in 2015. India’s food market stood at US$193 billion in 2016, which is estimated to grow to US$540 billion by 2020,” Santosh Sarangi, Joint Secretary, Department of Commerce and  Industry, Government of India said at a press conference in New Delhi on Monday.

“Indus Food, which is a mega show is line with other global food events, will give a much needed fillip to Indian food exports. Moreover, we are formulating Agri Export Policy which will make India a preferred destination for sourcing food and agriculture products. We are also talking with Invest India to attract investments to facilitate agri exports. Our autonomous bodies are also working with exporters to boost exports, while state governments are also being roped in to prepare grounds for exports of their produce,” Sarangi added.

“Indus Food provides us big opportunity to host the world Food & Beverage market in India and showcases to the world big strides that India is taking in the food and agro sector. Top global companies from across the globe including Europe, Gulf and CIS countries are taking part in the mega show. Government bodies and representatives from 30 nations are coming,” said, TPCI Chairman, Mohit Singla.
  
Today, India stands at sixth place in the global food and grocery market, but India’s share in food items exports is just 12%, which the government is trying to take up to 20%. India has achieved impressive results in exports of some items like prawns which has seen a jump of 17% between 2012-17, while grapes and turmeric exports have grown by 12%.

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