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Food And Agro Essay

4236 words - 17 pages

REPORT ONAGRO AND FOOD PROCESSING INDUSTRYIndian Institute of Management Indore Post Graduate Programme at MumbaiGroup1Adip Daniel (2013PGPM001)Atul Katiyar(2013PGPM012)Indranil Ganguly(2013PGPM025)Rachit Pradhan(2013PGPM039)Ria Singhal(2013PGPM046)EXECUTIVE SUMMARY:The agro and food industry plays an important role in contributing to the development of the economy. This industry is particularly seen as a potential source for driving the rural economy as it encourages symbiotic relationship between the consumer, industry and agriculture.The Indian food services industry has witnessed strong growth over the past few years .Indian food industry currently stands at Rs 247,680 crore (US$ 39.71 billion) and is expected to peg the Rs 408,040 crore (US$ 65.41 billion) mark by 2018, registering a growth of 11 per cent, according to a report titled 'India Food Service Report 2013' by National Restaurant Association of India (NRAI). Domestically spending on food products forms 21% of the gross domestic product of the country(2010 figures). In terms of consumer spending it takes up 31% share of the consumer's wallet.In order to ensure the growth potential sector, the Government has initiated extensive reforms. Some of them include amendments to certain existing laws such as amendment of the Agriculture Produce Marketing Committee Act, implementation of the National Horticulture mission etc. To promote investments in this sector, the Government allows 100% FDI in the food processing and cold chain infrastructure segments. In spite of the initiatives taken by the Government, productivity is very low in the country. However, still the industry is showing a strong upward trend, given the rising disposable incomes of a growing population, a greater number of younger people, the growth of consumers in smaller towns and an increased propensity of eating outside home.With a growing agriculture sector, healthy livestock, and cost competitiveness, India is fast emerging as a sourcing hub of processed food. The Agro and Food processing industry has become a catalyst for the development of Indian agriculture and is of enormous significance to development. According to CII figures, the food-processing industry has the potential of attracting US $33 billion investment in 10 years and will be in the process of generating employment to the tune of 9 million man-days. Hence this is clearly a very attractive sector for investment and offers significant growth potential to investors.Table of ContentsTopics Page No.Overview 4Technological Trends and Major Innovations 8Merger-Acquisition Activity 9Analysts' Views 10Major Players' Profile 12Government Regulations and Policy Changes 16Impact of Union Budget 2013-14 17Implication of International Treaties such as WTO/FTAs 18Competition from Foreign Firms, FDI, Imports, 19Opportunities in Overseas MarketReferences 21OverviewThe actual market size of global food and agro products was estimated to be US $ 4,140.3 billion in 2005.The...

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