NEW DELHI: The Agricultural and Processed Food Products Export Development Authority (APEDA), the industry and the Centre are together setting up a corpus trust fund of ₹50 crore for promoting Indian processed food in international markets.
The fund will help the small and medium scale industries to market their brands abroad by hiring space in the markets or conducting food festivals to increase exports.
Addressing a conference on the future of the food processing industry, Rajshree Pathy, Chairperson, CII Southern Region, said the industry is worth $65-70 billion, growing 9 percent annually.
But only 2 percent of the products account for value addition presenting a potential area of growth in the industry, she added.
Speaking on the sidelines, Piruz Khambatta, Chairman, CII National Committee on Food and Processing, said though the export potential is significant most of Indian companies concentrate only on markets that have an Indian presence.
