
AI, IoT to drive India as a global leader in food processing: Report
The joint knowledge report by ASSOCHAM-PwC, launched at the Food Tech conference organised by ASSOCHAM, showed that the technologies associated with Industry 4.0 -- including artificial intelligence (AI), the Internet of things (IoT), blockchain, robotics, and automation -- are fundamentally transforming how food is processed, stored, and transported.
These innovations are improving operational efficiency, food safety, quality control, and supply chain transparency.
With the global food robotics market projected to reach $6.08 billion by 2032, the report noted that India has a significant opportunity to harness these technologies, especially as it addresses critical challenges like post-harvest losses, which cost the country an estimated Rs 1.53 trillion annually.
'India's journey towards becoming a developed and self-reliant economy -- Viksit Bharat -- is being closely shaped by the transformation of its food processing ecosystem,' said Manish Singhal (Secretary General, ASSOCHAM).
'The vision of a proactive and sustained effort is regarded to be highly relevant to the evolving landscape of India's food processing sector -- an industry recognised both as a key economic driver and a vital link between agriculture and the nation's nutritional needs,' he added.
The report also outlined the hurdles faced by the industry. This includes supply chain traceability, limited processing coverage, environmental concerns, and lack of skilled manpower.
Further, it draws attention to food wastage and foodborne illnesses, which cost $936 billion and $110 billion respectively each year.
It called for enhanced compliance and safety protocols powered by digital tools to mitigate these losses and ensure better food security for all.
Meanwhile, the report also highlighted the initiatives launched by the government such as the Pradhan Mantri Kisan Sampada Yojana (PMKSY) and Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) -- which aim to strengthen the food processing ecosystem, reduce wastage and formalise the sector.
'Dialogue on emerging food processing technologies is essential to foster stakeholder collaboration for stimulating its large-scale adoption. The food processing sector in India holds tremendous potential, especially with increasing global interest and exports,' said Shashi Kant Singh, Partner - Agriculture and Food Sector, PwC India.
Changing consumer preferences are also shaping the future of the industry, showed the report highlighting a growing demand for sustainable packaging, plant-based proteins, and clean-label products -- trends that reflect rising awareness about health and environmental impact.
It called for a combined effort involving policymakers, industry leaders, academia, and startups -- supported by modern infrastructure and an enabling policy environment -- to unlock the sector's full potential.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


New Indian Express
9 minutes ago
- New Indian Express
Punjab's jails to get AI surveillance, 5G jammers in Rs 252 crore overhaul
CHANDIGARH: In a major push to modernise its prison infrastructure and security measures, the Punjab government is rolling out advanced Artificial Intelligence (AI)-based surveillance systems, full-body scanners, and 5G jammers across all 14 jails in the state. The initiative aims to curb drug smuggling, mobile phone use, and in-prison violence, while also addressing overcrowding. The state has sanctioned Rs 252 crore for comprehensive jail upgrades. Of this, Rs 126 crore is for installing security equipment and Rs 126 crore for constructing new barracks to accommodate over 5,000 additional inmates. According to senior government officials, AI-enabled CCTV systems will be installed in 11 jails this year as part of a state-wide rollout. 'This will help in detection and generating alerts on identification of throws from over the walls, crowd detection, entry into prohibited zones, entry or exit of foreign objects,' an official said. The Prison Inmate Calling System has also been expanded, with 800 calling machines installed to ensure inmates can legally communicate with their families without resorting to unauthorised means.


India.com
9 minutes ago
- India.com
How did Anil Ambani's telecom company go bankrupt, once used to challenge Airtel, Idea, launched Rs 500 phone to....
Anil Ambani (File) Several companies of Anil Ambani were raided by the Enforcement Directorate under the Prevention of Money Laundering Act (PMLA), leading to several stories about Anil Ambani's legacy. Anil Ambani's Reliance Infocomm, later rebranded as Reliance Communications (RCom)—once stood as the telecom flagship of the Reliance empire. In the beginning, Reliance Communications (RCom) embodied disruptive growth with slashing call rates, bundled handsets, and rapid expansion into India's underserved markets. However, within a decade, Anil Ambani's spiraled from market leader to bankruptcy. How did Reliance Infocomm grew so big? Launched in the early 2000s, Reliance Infocomm rapidly grew under Anil Ambani's leadership after the 2005 split of Reliance Industries. The company pioneered CDMA services in India with the 'Monsoon Hungama' campaign, making mobile telephony accessible to lower-income segments. Riding high on investor enthusiasm, RCom's IPO in 2006 was oversubscribed dozens of times, allowing it to build one of the country's largest telecom networks. Notably, Reliance Infocomm revolutionized the telecom market by offering CDMA mobile phones for Rs 501 under the 'Monsoon Hungama' plan in 2003, giving a tough competition to Idea and Bharti Airtel. How did Reliance Communications' downfall come? Reliance Communications' downfall was driven by poor strategic choices, including sticking too long with outdated CDMA technology and entering the GSM space late. The launch of Reliance Jio by Mukesh Ambani worsened its decline. Mounting debt, failed deals, and rising losses led RCom to file for bankruptcy in 2019, marking the collapse of what was once a telecom giant. Anil Ambani's Reliance Group announces Rs 18000 crore investment plan Anil Ambani's Reliance Group will focus on defence, power and clean energy sectors to chart the next phase of growth that will train resources on innovation and value creation, it said on Sunday. Just as financial crime-fighting agency, Enforcement Directorate concluded searches at locations linked to the group as part of an investigation into alleged money laundering and siphoning of public funds, over 100 top leaders from its two listed firms — Reliance Infrastructure and Reliance Power — convened in Mumbai on Sunday to reaffirm their commitment to its ambitious growth roadmap. (With inputs from agencies)
&w=3840&q=100)

Business Standard
19 minutes ago
- Business Standard
Lenskart gets shareholder approval for $250 million IPO fundraise
Indian eyewear retailer Lenskart secured shareholder approval to raise $250 million through a fresh share issue, setting the stage for a public offering that could reach $1 billion, including existing investor sales, according to sources. It is aiming for an IPO valuation of about $10 billion. 'The company got approval for the $250 million IPO fundraise. The offer for sale (OFS) would be decided later,' said a person familiar with the matter. The company plans to file its prospectus with the Securities and Exchange Board of India (Sebi) soon, joining a wave of technology startups—including trading platform Groww, e-commerce firm Meesho, and education company PhysicsWallah—that are preparing to go public in 2025. Lenskart's move comes as the $5 billion company—recently marked up to $6.1 billion by Fidelity—seeks to capitalize on robust growth in India's retail market. The Gurugram-based firm reported 43 per cent revenue growth to Rs 5,427.7 crore in FY24 from Rs 3,788 crore in FY23, while narrowing its losses by 84 per cent to Rs 10 crore in FY24 from Rs 63 crore in FY23. The IPO approval includes a pre-listing fundraising round of $51 million and a new employee stock plan covering 7.2 million shares. Lenskart operates more than 2,500 stores globally and is investing $200 million in a manufacturing facility in southern India. Lenskart continues to deepen its penetration in India while rapidly scaling its international presence, including in Southeast Asia and the Middle East. With a unique click-and-mortar business model, it is disrupting the eyewear industry by offering an omni-channel customer experience across online platforms, mobile applications, and stores. Globally and in India, Gurugram-based Lenskart competes with players such as Titan Eyeplus, Specsmakers, Vision Express, Warby Parker, and Italian eyewear conglomerate Luxottica Group.