Indian Economy News

Huge potential to boost exports of processed food: TPCI

  • IBEF
  • January 10, 2023

According to the Trade Promotion Council of India (TPCI), the agricultural exports from India are robustly increasing and there is a need to focus on the processed food sector as it holds huge potential to boost the country’s outbound shipments. After taking this into account, the council’s three-day IndusFood expo commenced on January 8, 2023, in Hyderabad. The Joint Secretary, Mr. Srikar K Reddy, and the Additional Secretary, Mr. Rajesh Agrawal of the Commerce Ministry inaugurated the expo.

While addressing the event Mr. Rajesh Agrawal stressed on the need to create global brands in the food and beverage industry. He said that ideally 50 brands should be created in order to do the job well and to promote Indian cuisine abroad.

Mr. Mohit Singla, the Founder Chairman of TPCI, revealed that IndusFood has been able to bring institutional buyers from the remotest corners like French Guinea, Mongolia, Seychelles, Syria, Turkmenistan, etc. Over 1,300 buyers from around 80 countries are being hosted in the first-ever edition of the expo in Telangana. Additionally, the three-day event is expected to negotiate aggregate business deals worth US$ 1 billion and nearly 50+ global food retail chain brands and their representatives are taking part in the exhibition.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.