UKIBC to lead on UK-India Food and Drink Sector trade promotion and investment on behalf of DIT in India:
The UK India Business Council (UKIBC) is the Department for International Trade’s (DIT) business partner for India. From April 2018, UKIBC has taken over responsibility for the Food & Drink sector strategies and its day to day activities from DIT. We promote UK’s F&D sector in India and create awareness about Indian F&D sector opportunities in the UK.
Find out more on the UKIBC's new role here.
Overview of the Indian Food and Drink Sector
The Indian food and drink industry is currently valued at GBP 193 billion. It is the world’s sixth largest food and drink industry, with retail contributing 70% of the sales. It is certain to witness strong further growth with a projected CAGR of 19% between the years 2017-20.
The key growth drivers that resulted in such strong domestic demand in the Indian Food & Drink sector are favourable macro socio-economic indicators including favourable demographics, growing disposable income, urbanisation, organisation of retail industry along with changing consumer tastes and preferences and their increasing spend on value added products.
The food and drink market is characterised by strong domestic demand, rising exports, increasing investments, and government support. Further, the liberalised foreign direct investment (FDI) policy and reforms have resulted in the development of the production, processing, distribution and marketing of F&D sector in India. Between April 2000 and June 2017, the Indian food processing sector received FDI worth GBP 5.95 billion, making it the 13th largest sector receiving FDI in the country. Thus, the sector has emerged as a high-growth and high-profit sector due to its immense potential for value addition.
Read the full overview of the Indian Food and Drink sector here.
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