Opportunities in India’s Food and Drink Market
The UK India Business Council (UKIBC) conducted a webinar with the Food and Drink Federation (FDF) on 30 May, 2019 highlighting “Opportunities in India’s Food and Drink Market”. Our expert speakers were: FDF Chief Executive, Ian Wright; UKIBC’s Senior Business Development Manager, Subhayu Ray; UK-based supply chain/operations consultant, Sandip Chatterjee; and UKIBC Food and Drink Lead, Shubhi Mishra. Together they outlined insights into how outward-looking UK food and drink companies can navigate one of the largest, though complicated, Indian food and drink markets.
The Indian F&D industry was estimated to be worth GBP 193 billion in 2017, and is poised for strong growth with a projected CAGR of 19% between 2017 and 2020. Putting this into perspective, the UK food and drink manufacturing industry has a turnover of GBP 97.3 billion accounting for 19% of total UK manufacturing. Riding on urbanisation, dual-earning households, more women entering into the workforce, increased exposure through high smartphone adoption, and widespread availability of mobile broadband infrastructure, the Indian market has become a disruptive force faster than most businesses expected.
Coming at a time when there are ample opportunities to shape India’s emerging F&D regulatory landscape and engender best practice, the webinar also emphasised UKIBC’s upcoming trade mission around India’s leading food trade show, World Food India (WFI 2019), in November 2019 in New Delhi, organised by the Ministry of Food Processing, Government of India.