IBPC Dubai Event highlights key insights and opportunities in India-UAE trade and food processing sector growth

Zawya

21-02-2025

Dubai, United Arab Emirates: With the food processing sector in the UAE experiencing a remarkable 12.2% compound annual growth rate (CAGR) and projected to reach a USD 50 billion market value in the coming years, the significance of India-UAE trade relations has never been clearer.
Against this backdrop, the Indian Business & Professional Council (IBPC) Dubai hosted a landmark event yesterday, spotlighting this growth and exploring the dynamic potential for collaboration between India and the UAE in the agri-food and food processing sectors.
IBPC Dubai's India Dialogue with Chirag Paswan networking session was attended by prominent business leaders, government officials, and key stakeholders, fostering high-level discussions around the policy shifts and innovative strategies that are transforming the global food processing landscape. The members event served as a critical platform for advancing bilateral trade, strengthening economic ties, and exploring new opportunities in the food sector.
Dr. Sahitya Chaturvedi, Secretary General of IBPC Dubai, opened the event with a powerful introduction, underscoring the growing importance of the India-UAE economic partnership, particularly in the food processing industry. His words were echoed by Siddharth Balachandran, Chairman of IBPC Dubai, who reiterated the council's commitment to supporting Indian businesses in the UAE, as well as driving policy advocacy and fostering long-term industry relationships between the two countries. He highlighted the key role of the Indian diaspora in enhancing bilateral business opportunities.
Guest of Honour H.E. Shri Satish Sivan, Consul General of India to Dubai and the Northern Emirates, also addressed the gathering, emphasizing the UAE's strategic position as a trade hub and its importance as a key partner in India's growing food export market.
The event reached its peak with the keynote speech delivered by Chief Guest Shri Chirag Paswan, Union Minister for Food Processing Industries, Government of India. Minister Paswan provided a comprehensive overview of India's revolutionary approach to food processing, which is transforming the agricultural sector and positioning India as a global leader in food production and innovation.
'India's food processing industry is experiencing a transformative shift, with several government initiatives that are empowering farmers, creating new job opportunities, and boosting the industry's value-addition capacity. Together with the UAE, we can leverage these reforms to build a more sustainable, prosperous food ecosystem,' he said.
Minister Paswan highlighted several key initiatives that are driving India's transformation in the food processing sector. He spoke about the Pradhan Mantri Kisaan Yojana, which directly supports farmers, empowering them to invest in modern farming practices and enhancing their income security. The Production Linked Incentive (PLI) Schemes were also emphasized as a critical strategy to encourage food processing companies to invest in state-of-the-art technology and infrastructure, promoting large-scale production and expanding export potential. Furthermore, India's development of Food Processing Parks across the country provides a comprehensive ecosystem with advanced infrastructure, technology, and logistics to support the growth of the food processing industry. Minister Paswan also highlighted the government's focus on millets, a nutritious and climate-resilient crop, promoting its use both domestically and globally. To support these efforts, India is investing heavily in modern cold storage and logistics infrastructure to ensure fresh food products reach global markets efficiently, while also focusing on training institutes to skill the workforce for the growing food processing sector.
Minister Paswan's address also shared impactful statistics that underscore India's position as a global leader in food production and processing. India is the world's largest producer of milk, spices, and pulses, and the second-largest producer of fruits, vegetables, and cereals. The Indian food processing industry is projected to exceed USD 1.4 trillion by 2027, driven by increasing demand for processed, convenient, and health-conscious food products. With the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in place, the potential for joint ventures, co-investments, and value-chain collaborations between the two countries is greater than ever, further cementing the importance of the India-UAE trade partnership.
The event also featured the felicitation of key figures including Shri Chirag Paswan, H.E. Satish Sivan, Mr. Rodmal Nagar, and Mr. Sudhir Gupta, Members of the Indian Parliament. Their efforts in strengthening India's trade relations and enhancing business opportunities with the UAE were celebrated by the IBPC Dubai community.
In his closing remarks, Mr. Sreekumar Brahamanandan, IBPC Board of Governors, thanked all participants and emphasized the importance of continued dialogue and partnership between India and the UAE. He reiterated IBPC Dubai's mission to facilitate business growth and collaboration through innovative policy advocacy and international networking.
'The event was a resounding success, underscoring the significant opportunities that lie ahead for India and the UAE in the food processing sector. With both countries committed to expanding their trade relations and investing in innovation, the future of the food industry looks exceptionally promising,' concluded Mr. Balachandran.