Piyush Goyal: Food and beverage, marine exports could reach 100 billion dollars in 5 years

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New Delhi, January 11

India’s food and beverage (F&B), agriculture, and marine products industries could collectively reach $100 billion in exports over the next five years, Union Minister Piyush Goyal said at Indusfood 2025 in New Delhi. He stated that the goal was achievable, with the sectors needing to grow at a combined annual rate of 14-15%. The Minister highlighted the success of Indusfood 2025, commending the Agricultural and Processed Food Products Export Development Authority (APEDA) and the Marine Products Export Development Authority (MPEDA) for their key role in driving India’s $50 billion in exports last year.

Goyal also noted that the Indian government has opened the door for 100% Foreign Direct Investment (FDI) in the F&B sector, including foreign ownership and management. He also assured stakeholders that work permits for foreign professionals and businesses are being facilitated to ease entry into the Indian market. During his address, the Minister encouraged Indian companies to invest in innovation, sustainability, and improved packaging, emphasizing the importance of high-value, nutritious products for government food security programs. He also reiterated the government’s commitment to promoting organic farming and sustainable agricultural practices, including streamlined certification processes for organic products.

The government is also working to expand food testing laboratories across India, with plans to improve infrastructure and equipment in these facilities. Goyal urged stakeholders to explore regional flavors and emphasized India’s global growth potential in pre-packaged, ready-to-eat foods.

Indusfood, launched in 2017 by the Trade Promotion Council of India with the support of the Department of Commerce, provides a platform for Indian F&B companies to showcase their products, network with international buyers, and expand globally.