Latest news with #JyotiVij
India.com
22-05-2025
- Business
- India.com
How India's Food Processing Sector Is Leading Tier 2 And 3 Indian Cities To Becoming Engines Of Economic Growth
New Delhi: India's food processing sector is on a transformative growth path, and with consumption trends aligning across urban and rural India, tier 2 and 3 cities are fast becoming the engines of economic growth, according to a new report. The sector supports over 7 million jobs across the value chain, directly and indirectly, while enabling rural industrialisation and reducing post-harvest losses. According to the report by Deloitte and FICCI, the sector accounts for approximately 7.7 per cent of India's total manufacturing GVA (gross value added), and its critical role in generating employment, fostering rural development and enhancing value addition. The agriculture and food processing sector, representing nearly 30 per cent of the national food market, is gaining momentum due to rising rural demand, digital advancements and strong policy support. 'India's agri and food processing sector is on the brink of a transformative leap, where tradition meets cutting-edge technology to build a future-ready food ecosystem. Consumer demand is shifting towards clean-label, protein-rich and gut-friendly foods, driving a structural evolution in how India consumes food,' said Anand Ramanathan, Partner and Consumer Industry Leader, Deloitte South Asia. India is poised to lead the global narrative on health-driven, tech-enabled and inclusive food systems, fuelled by advancements in AI, IoT and blockchain. The opportunity before us is not just to feed a billion, but to do so with purpose, resilience and intelligence, he added. 'India's food processing sector holds immense transformative potential, both as a driver of economic growth and as a catalyst for inclusive development. As evolving consumer preferences and health-conscious choices reshape food systems, the need for resilience, innovation and value addition has never been greater,' said Jyoti Vij, Director General, FICCI. In addition, India's record agricultural exports of $48.2 billion in FY24 and the global recognition of GI-tagged products highlight the sector's export potential and its growing role in the world food economy.
Time of India
21-05-2025
- Business
- Time of India
India's food processing sector powers jobs and growth, contributes 7.7% to manufacturing: Deloitte-FICCI Report
New Delhi: India's food processing sector is emerging as a key pillar of economic growth, contributing 7.7 per cent to the country's total manufacturing GVA and supporting over 7 million jobs across the value chain, according to a new Deloitte-FICCI report . Valued at USD 160 billion, the sector is enabling rural industrialisation and reducing post-harvest losses, while gaining momentum from rising rural demand, digital transformation, and policy support. As per the report, the agriculture and food processing value chain now accounts for nearly 30 per cent of the national food market. 'India's agri and food processing sector is on the brink of a transformative leap, where tradition meets cutting-edge technology to build a future-ready food ecosystem,' said Anand Ramanathan , Partner & Consumer Industry Leader, Deloitte South Asia. 'Consumer demand is shifting towards clean-label, protein-rich and gut-friendly foods, driving a structural evolution in how India consumes food. India is poised to lead the global narrative on health-driven, tech-enabled and inclusive food systems, fuelled by advancements in AI, IoT and blockchain,' he added. The report highlights India's agricultural exports, which reached a record USD 48.2 billion in FY24, signalling strong global demand. Urban consumption patterns are also evolving, with nearly 50 per cent of food budgets now allocated to packaged and prepared foods. Meanwhile, rural FMCG volumes posted a 6 per cent growth in Q3 FY24, and Tier-2 and Tier-3 cities are becoming new engines of demand. 'India's food processing sector holds immense transformative potential, both as a driver of economic growth and as a catalyst for inclusive development,' said Jyoti Vij, Director General, FICCI. 'As evolving consumer preferences and health-conscious choices reshape food systems, the need for resilience, innovation and value addition has never been greater.' While the sector shows strong potential, the report said that supply chain inefficiencies continue to pose challenges. It calls for collaboration among policymakers, industry leaders and innovators to invest in smart technologies, build resilient supply chains, and scale health-forward offerings aligned with global consumption trends.
Arab News
08-04-2025
- Business
- Arab News
India becomes top source of FDI in Dubai with $3 billion investment
NEW DELHI: India's foreign direct investment into Dubai surged to over $3 billion in 2024, making the South Asian nation its top investor, the latest data shows. Dubai's Department of Economy and Tourism announced earlier this week that the most populous of the UAE's seven emirates attracted 52.3 billion dirhams ($14.20 billion) in estimated FDI capital in 2024. India was 'the top source country with the highest total estimated FDI capital into Dubai, accounting for 21.5 percent,' the main authority for the planning, supervision and development of Dubai's business and tourism sectors said in a statement. The value amounts to about $3.05 billion and was five times higher than in 2023, when India was Dubai's fifth largest FDI capital contributor. In 2024, India was followed by the US at 13.7 percent, France with 11 percent, the UK at 10 percent, and Switzerland with 6.9 percent. India was also the second-largest player in FDI projects to Dubai, accounting for 15 percent of them, preceded only by the UK at 17 percent. Business leaders saw the surge of Indian investment not only in Dubai but also in the whole UAE as facilitated by a series of bilateral agreements, especially the 2022 UAE-India Comprehensive Economic Partnership Agreement, which has eliminated trade barriers, lowered tariffs, and eased business operations, making it easier for companies in both countries to access each other's markets. Adeeb Ahamed, managing director of LuLu Financial Holdings and chair at the Middle East Council of the Federation of Indian Chambers of Commerce and Industry, said it has enabled 'remarkable economic collaboration' and allowed Indians 'to take full advantage of this favorable (investment) atmosphere.' In Dubai, business services, software and IT services, consumer products, food and Beverages, and real estate are currently the top sectors representing Indian FDI, according to the FICCI's data. 'This diversification reflects Indian businesses' strategic approach to global expansion. The regulatory environment — the 2022 Comprehensive Economic Partnership Agreement and 2024 Bilateral Investment Treaty have significantly reduced barriers, while world-class infrastructure and bilateral agreements have created an ecosystem where Indian enterprises can truly flourish,' FICCI director general Jyoti Vij told Arab News on Wednesday. 'This meteoric rise from the fifth to first position as Dubai's top FDI source demonstrates our growing global ambitions and capabilities.'
Arab News
12-03-2025
- Business
- Arab News
India becomes top FDI source in Dubai with $3 billion investment
NEW DELHI: India's foreign direct investment into Dubai surged to over $3 billion in 2024, making the South Asian nation its top investor, the latest data shows. Dubai's Department of Economy and Tourism announced this week that the most populous of the UAE's seven emirates attracted 52.3 billion dirhams ($14.20 billion) in estimated FDI capital in 2024. India was 'the top source country with the highest total estimated FDI capital into Dubai, accounting for 21.5%,' the main authority for the planning, supervision and development of Dubai's business and tourism sectors said in a statement. This amounts to about $3.05 billion, five times more than 2023, when India was Dubai's fifth largest FDI capital contributor. Last year, India was followed by the US at 13.7 percent, France with 11 percent, the UK at 10 percent, and Switzerland with 6.9 percent. India was also the second-largest player in FDI projects to Dubai, accounting for 15 percent and preceded only by the UK at 17 percent. Business leaders saw a surge of Indian investment not only in Dubai but also in the whole of the UAE. This was facilitated by a series of bilateral agreements, in particular the 2022 UAE-India Comprehensive Economic Partnership Agreement, which has eliminated trade barriers, lowered tariffs and eased business operations, making it easier for companies in both countries to access each other's markets. Adeeb Ahamed, managing director of LuLu Financial Holdings and chair of the Middle East Council of the Federation of Indian Chambers of Commerce and Industry, said it has enabled 'remarkable economic collaboration' and allowed Indians 'to take full advantage of this favorable (investment) atmosphere.' In Dubai, business services, software and IT services, consumer products, food and beverages, and real estate are currently the top sectors representing Indian FDI, according to the FICCI's data. 'This diversification reflects Indian businesses' strategic approach to global expansion. The regulatory environment — the 2022 Comprehensive Economic Partnership Agreement and 2024 Bilateral Investment Treaty — have significantly reduced barriers, while world-class infrastructure and bilateral agreements have created an ecosystem where Indian enterprises can truly flourish,' FICCI Director-General Jyoti Vij told Arab News on Wednesday. 'This meteoric rise from the fifth to first position as Dubai's top FDI source demonstrates our growing global ambitions and capabilities.'
