President of Federation of Telangana and Andhra Pradesh Chamber of Commerce and Industry (FTACCI), Gowra Srinivas said on Thursday that food processing industry is one of the largest industries in India and contributes around 14 per cent of manufacturing Gross Domestic Product (GDP), 13 per cent of the India’s exports and six per cent of the total industrial investment. Andhra Pradesh has huge potential for the investment and growth of food processing industry and entrepreneurs were keen to set up industries in this sector.
FTACCI will conduct a three-day Food Processing Conclave 2018 from January 4 to 6 at Seshasai function hall on MG Road in Vijayawada, Andhra Pradesh.
Srinivas informed that many big companies from food processing and dairy sectors would participate in the event and display their products. He said Sangam Dairy, Visakha Dairy, Priya Foods, Heritage dairy, Kelloggs India Limited, Creamline Dairy, Archana Packaging, Vega Automation Solutions and other Micro Small and Medium Enterprises, government agencies and said financial institutions like NABARD, Sidbi, SBI, Indian Bank have shown keen interest in the food processing conclave.
Andhra Pradesh government had identified Food Processing Industry as one of the prominent sectors of the state and trying to attract investment. Less than 5 per cent of the food was being processed in the state and felt the need of more food processing units that would generate employment and increase exports. Srinivas said rapid urbanisation, changing of life style, increase in number of women work force, rising per capita income has been providing new opportunities and new avenues in food and beverages sector.