Trend of Production & Productivity in the Food Processing Sector of India

Seminar paper from the year 2021 in the subject Economics - Industrial Economics, grade: A+, , course: B.A. LL.B. (Hons.), language: English, abstract: This paper addresses the question of: What were the factors that changed the trend of production and productivity on food processing sector in India and how will they take it to further higher growth in the modern times? Food Processing stands as a sunrise sector in the Indian economy and steers the growth for the industry's development. The Food Processing sector comprises a large number of stakeholders like milk and dairy products; vegetables and fruits; egg, meat and poultry; fisheries, beverages, horticulture, chocolate and cocoa products, grains, mineral water, plantation, confectionery etc. India has a strong agriculture base, and it plays a consequential role in the expansion of this sector, as it contributes for about one–fourth of the Indian economy and employs two-third of the population. It is not only a potential source for navigation of the rural economy but also leads to the collaboration of consumers, industries and agriculture. In times when India develops itself from food scares to a food surplus country, prospects for processed foods are mammoth. India's food ecosystem and the food habits of Indians bids enormous prospects for stimulating growth with favourable fiscal policies, large-scale investments and attractive monetary incentives in the food retail sector. Food processing transforms raw edible material into food and then food to its other forms. It improves shelf life and enhances the value of the agricultural products or animal products and enables them to be marketable.