* Indian food processing market size reached US$ 307.2 billion in 2022 and is expected to reach US$ 547.3 billion by 2028, exhibiting a growth rate (CAGR) of 9.5% during 2023-2028.
* Digital advertising grew to reach US$ 9.92 billion by 2023, with the FMCG industry being the biggest contributor at 42% share of the total digital spend.
* Entrepreneurs interested in setting up the food-related FMCG industry can set up their processing units in the government-designated agro-processing clusters, which helps cut down the plant setup costs.
* With the advent of online retail and e-commerce, FMCG businesses are able to market and sell their products across the country without investing much in marketing activities.
* Union Budget 2023-24 has allocated US$ 976 million for PLI schemes that aims to reduce import costs, improve the cost competitiveness of domestically produced goods, increase domestic capacity, and promote exports.
* Union budget 2023-24 focuses on reviving rural demand by boosting disposable income, allocation to farms and higher fund allocation on rural infrastructure, connectivity, and mobility to create long-term jobs.
* In February 2024, Varun Beverages announced of investing Rs. 3,500 crores (US$ 421.69 million) to setup manufacturing plants, while generating 1,500 employment opportunities.
* In January 2023, ITC announced plans to acquire 100% of Sproutlife Foods, a D2C startup and parent company of health food brand 'Yoga Bar' over a period of three to four years.
Ibef Organic Indian Pavilion BIOFACH2022 July 26th-29th, 2022 | Nuremberg, ...
Mutual funds play an indispensable role in capital markets, serving as a gateway for individuals and institutions to access a diverse range of securit...
The logistics industry plays a vital role in the dynamic economic landscape of India by enabling the efficient movement of goods and services througho...
As urban markets become saturated, investors are turning their gaze towards the untapped potential of small-town innovation, driven by a desire to fos...
Women empowerment is a transformative force that goes beyond mere gender pa...
In recent years, India has rapidly risen as a global powerhouse within the ...
In India's big web of transportation, Indian Railways is like an import...