Oct 24, 2018
Union Food Processing Industries Minister Harsimrat Kaur Badal has encouraged the French food processing companies to extensively increment their association and presence in the Indian market.
“The French have one of the world’s most renowned food processing industries and India has the fastest growing food and retail market in the world. Hence, it would be natural for the two to work together intensively. However, we find that some other countries have been much more aggressive in the Indian market and are taking the lead, while the French remain rather limited in their footprint in India,’’ Badal told the media conference at SIAL in Paris, soon after having inaugurated, what’s touted as the world’s largest food processing fair along, with her French counterpart.
“India presents a unique opportunity in the food processing and retail domain. Food constitutes a very large share of the total retail market, which itself is set to treble in the coming few years. As the disposable income increases, an average Indian family will spend even more on food and hence will open up a large and untapped market,’’ Badal said. She also commented many different countries have seized the opportunities and are broadening their investments in India, the same footprints was not seen with the French companies. “Of course, the French enjoy a high reputation in this industry and they have a lot of know-how and technology to share with Indian companies. However, the cooperation remains far from achieving its true potential and it is a pity because the moment of doing business with India is here and now,’’ Badal said.