Thefood processing industry has been slated for accelerated growth. It isprojected to be a futuristic industry and it is anticipated that, over theyears, it will emerge as a leading player in the global markets. As a result,the industry is seen to be witnessing feverish activity.
Thesize of the processed food market is estimated to be over Rs. 110 bn and isgrowing at 10 to 15% per annum. The Rs. 4000-bn food market in India has beengrowing at the rate of 6.5% a year. The Indian middle class spends an estimatedaround Rs. 700 bn annually on food and groceries alone. The ready-to-eatsegment is growing faster as technology is improving and so is the lifestyle ofthe people.
Thetrue potential of the food processing industry is slowly being realised. Thisis reflected in the fact that the government has classified food processingindustry as a thrust area.
