It is interesting to write about a segment, which does not get written about or reported regularly. I refer to the skimmed milk powder (SMP) industry, which has put India on the global map. Exports of SMP from India have registered around 100 per cent year-on-year (YoY) growth at 122,000 tonnes during April-February in 2013-14 compared to 63,762 tonnes exported during the 11-month period a year ago.
Exports of dairy products stood at INR 2,618.72 crore (US$ 429.6 million) during April-December 2013, up 162 per cent over INR 996.86 crore (US$ 163.5 million) a year ago. Experts are pegging the value of Indian dairy exports at a bullish INR 5,000 crore (US$ 820.4 million) for the current financial year. Industry players are also expecting a surge in domestic demand. With a strong export growth and a bright outlook for the domestic market, companies could be expected to cash-in on the growth trend.