India has a strong resource base of agriculture. India is major producer of fruits & vegetables; it is the top producer of milk and has largest cattle population. We are third largest in marine landing and fifth in poultry production in the world. We have also a domestic market of over a billion population and 300 million strong middle class consumers. Indian consumers spend more than 30 per cent of their income on food products. Food and food products are the largest consumption category in India and our domestic market will touch US $ 258 Billion by 2015 (FICCI-E&Y Report, 2009). Apart from this, India has the locational advantage of being nearer to major markets of Middle East, South-East Asia and Africa.
India is poised for a big take off in the production and consumption of processed food products. Our food processing sector is growing annually around 9 per cent during the last five years. Given the size of processed food market, there is enough space for more investment in food processing sector in India.