India can achieve export target of $100 billion in F&B, agriculture and marine products in 5 years

New Delhi: Commerce and Industry Minister Piyush Goyal said India has the potential to reach combined exports in food and beverage, agriculture and marine products industries to reach $100 billion in the next five years.

Interacting with stakeholders from the F&B (food and beverage) industry during IndusFood 2025, the Union Minister stressed that the target is not very ambitious as the industry needs to grow at a compound rate of 14-15 per cent. He appreciated the important role played by Agricultural and Processed Food Products Export Development Authority (APEDA) and Marine Products Export Development Authority (MPEDA) in exporting goods worth $50 billion from India last year.

The Union Minister also informed that the government has allowed 100 percent Foreign Direct Investment (FDI) in the F&B sector, apart from this the government also provides easy work permits for those who want to work or set up business in India. .

Union Minister Goyal urged Indian companies to invest in innovation, better packaging, sustainability and mechanize their processes to make them cleaner. He encouraged the stakeholders present to come up with high value products on nutrition which the government can use for its food security programs in the country.

On promoting sustainability in the food industry, the Union Minister highlighted that the government is giving priority to making farming processes sustainable and is working to promote organic farming and food products.

He said that there is tremendous development potential in organic farming. Union Minister Goyal also said that the government wants to expand food testing labs across the country and would welcome suggestions on the equipment and processes required for setting up high-quality testing lab facilities.

The Union Minister urged the stakeholders to visit other parts of India to get an idea about the different tastes and flavors available in the country. He expressed hope that the Indian F&B industry and its partners will continue to focus on innovation and bring global standards to the country as well as take Indian products to the world.