Union Minister of Science & Technology, Dr. Jitendra Singh today inaugurated the first-of- its-kind 'National Speed Breeding Crop Facility' at the premier National Agri-Food Biotechnology Institute (NABI) in Mohali.

 

Speaking on the occasion as chief guest, Dr. Jitendra Singh said, 'this initiative is in line with Prime Minister Narendra Modi’s priority of doubling the farmer`s Income, ensuring their economic empowerment and promoting Agri-StartUps'. He said, farmers will now have the opportunity to improve their crop qualitatively as well as quantitatively.

 

Dr. Jitendra Singh said, 'Biotechnology speedy seeds facility will cater to all the States of India but it will especially be useful for the North Indian States like Punjab, Himachal Pradesh, Haryana and the UT of J&K. Adding further he said, 'this facility will augment transformational changes in crop improvement programmes by accelerating the development of advanced crop varieties that could sustain climate change and contribute to the food and nutritional demand of the population with implementation of speed breeding cropping methods'.

 

The Minister said, 'DBT institute of NABI has developed technology of ‘Climate- resistant crops’, by harnessing these technologies the farmers will not be restrained to cultivate a crop in a particular season rather they will have the liberty to practise farming irrespective of climate conduciveness'.

 

Dr. Jitendra Singh, while highlighting the recent achievements of institutes under the Ministry of Science & Technology, said, 'Our institutes have specialised technologies in fruit, flowers and crop cultivation through modern genetic means'. He recalled the success of ‘Tulip’ Cultivation by CSIR Palampur, he also recalled the development of ‘108-petal lotus’ by CSIR Lucknow which won an award in the TV series KBC. He further emphasised that application of latest technology in the farming sector will add to the economic growth of the country by supplementing modern Science and Technology tools to the traditional vocation of farming in India.

 

'Bio-manufacturing and Bio-foundry will drive India’s future bio-economy and promote Green Growth', said Dr. Jitendra Singh. According to him, the Ministry is working with a synergy and integrative approach keeping in view the emphasis of PM Modi on combining Science and Technology with traditional knowledge to supplement India’s economy.

 

Dr. Jitendra Singh also highlighted the fact that under PM Modi 'India's bio-economy has grown 13 folds in the last 10 years from $10 billion in 2014 to over $130 billion in 2024'.

 

Addressing the inauguration Dr. Jitendra Singh said, 'In the 3rd consecutive term of Prime Minister Narendra Modi, India has been projected to emerge as the 3rd largest economy of the world and rise to be the largest in coming years. Contribution of the agriculture sector will therefore be crucial for the Indian economy'.

 

Dr. Jitendra Singh informed that the Modi Government is conscious of the importance of Bio-economy and thus the recent ‘Vote of Account-Budget’ had a provision for a special scheme for Bio-manufacturing.

 

According to Dr. Jitendra Singh, institutes like NABI will have an important role to enable the transformational progress and value addition in farming sector productivity. 

 

The facility will directly help a) Scientists and Researchers from government institutions, private institutions and leading industries in India engaged in agricultural and biotechnology research and development of improved crop varieties and products, b) Plant Breeders working for crop development and c) Progressive farmers who are contributing to adoption of new varieties with superior yield and nutritional traits.

 

In his address, Prof. Ashwani Pareek, Executive Director, NABI, said the speed breeding crop facility will be used to develop new varieties such as wheat, rice, soybean, pea, tomato, etc., by using a precisely controlled environment (light, humidity, temperature) to achieve more than four generations of a crop per year.

 

The NABI institute has significantly contributed to ‘Atal Jai Anusandhan Biotech (UNaTI) Mission (Poshan Abhiyan), and Biotech Kisan Hubs for  Jammu & Kashmir, Ladakh, Himachal Pradesh, Punjab, Haryana etc, he said.

In what could be a 'very game-changing' development for India's trade with the world, many economies big and small have expressed willingness to start trading in rupee with India, Commerce and Industry Minister Piyush Goyal said on March 11. Some of these countries include neighbours like Bangladesh and Sri Lanka as well as nations from the Gulf, the minister said.

 

While Bangladesh and Sri Lanka are keen us to start immediately, countries in the Gulf region are also seriously looking at the possibility, Goyal informed. At some point, more and more developed countries and countries in the Far East will also join the bandwagon, he said, adding that Singapore is already on board to some extent.

 

More and more countries are realising the advantages of trading in their own domestic currencies and a shift towards direct transactions between local currencies is gaining traction, Goyal said.

 

By avoiding the need to convert transactions into a third currency, both parties can significantly reduce transaction costs, the minister said.

 

The UAE was one of the first economies to accept this mechanism, and it has since gained momentum. India's first-ever payment in rupees for crude was from the UAE.

 

Many countries are expressing their interest in initiating direct transactions between their local currencies and the Indian Rupee. However, implementing this process might take some time as it requires coordination between the central bankers of both nations and the acceptance of the system by importers and exporters, Goyal said.

 

Trade using the Indian Rupee is also advantageous because the currency remains stable against most international currencies. This stability has attracted different nations to build trade relations based on rupee trade. Besides, the rupee trade mechanism has proven beneficial for countries experiencing a shortage of US dollars.

 

India has already commenced trade in rupees with neighboring countries like Nepal and Bhutan. Additionally, the rupee has been included in Sri Lanka's list of designated foreign currencies to facilitate trade. India's push for using the rupee globally began with its first-ever payment in rupees for crude oil purchased from the UAE. This initiative has encouraged the world's third-largest energy consumer to seek similar arrangements with other suppliers.

 

To support the use of the Indian Rupee in international trade, changes have been made to the Foreign Trade Policy (FTP). These alterations allow for trade settlement in rupees and aim to establish the INR as a global currency. In July 2022, the Reserve Bank of India (RBI) authorised Indian banks to open and maintain special rupee Vostro accounts for partner trading countries' banks. These accounts hold the foreign banks' rupee holdings with their Indian counterparts.

 

When an Indian trader needs to make a payment to a foreign trader in rupees, the amount is credited to the Vostro account. Similarly, when an Indian trader is owed payment, the amount is deducted from the Vostro account and credited to their regular account. HDFC Bank and UCO Bank are among the banks that have already opened special Vostro accounts to facilitate overseas trade in rupees. Many countries have shown interest in establishing this arrangement for local currency trade.

The Philippines is seen to import more rice than earlier expected this year—remaining as the biggest rice buyer in the global market—amid a likely larger shortfall in local harvest.

 

This is according to the Foreign Agricultural Service of US Department of Agriculture (USDA), which estimated that the country would import 4.1 million metric tons (MT) of rice this year, up by 200,000 MT or 5.1 percent from the previous estimate of 3.9 million MT in February due to 'smaller crop' from local farms.

 

If reached, this would be nearly 14 percent more than the 3.6 million MT of rice that entered the archipelago in 2023.

 

The latest forecast is aligned with the report of the USDA unit that global rice imports would rise to 53.3 million MT from 52.38 million MT mainly due to higher demand from Indonesia and the Philippines.

 

It also estimated that the country would remain as the leading rice importer worldwide, followed by Indonesia, China and the European Union.

 

In the first two months of 2024, the country imported 728,254.49 MT of rice, based on a tally from the Bureau of Plant Industry. Like in the past years, Vietnam accounted for the majority of the supply, amounting to 390,997.22 MT.

 

This was as the USDA lowered its projection on domestic rice production this year to 12.3 million MT from the previous estimate of 12.5 million MT. This is contrary to its outlook that global rice output will increase to 515.4 million MT, due to larger crop expected from India.

 

Local production

The Philippines produced a total of 20.06 million MT of rice in 2023, up by 1.5 percent, based on data from the Philippine Statistics Authority (PSA). Last year’s output surpassed the previous record output of 19.96 million MT in 2021.

 

Central Luzon was the leading producer of palay with 3.64 million MT or a share of 18.1 percent, followed by Cagayan Valley and Western Visayas with 3.03 million MT and 2.26 million MT, respectively.

 

Philippine rice self-sufficiency level declined to 77 percent in 2022 from 81.5 percent in 2021, based on PSA figures.

 

The DA, through the Masagana program, is aiming for a 97-percent rice self-sufficiency by 2028.

 

Meanwhile, the United Broiler Raisers Association (Ubra) anticipates poultry production to reach at least 1.8 million kilograms to as much as 1.9 million kg this year, up 2 percent from a year prior.

 

Ubra chair Elias Jose Inciong said this outlook is 'conservative,' noting that normal growth is 4 to 7 percent a year.

 

Poultry demand is expected to range between a low of 1.5 million kg and a high of 1.6 million kg, especially in the second quarter, due to the fiesta season.

The 38th edition of Aahar – the International Food and Hospitality Fair concluded here with a large participation from trade delegates from across the globe.

 

The five-day event hosted by India Trade Promotion Organisation (ITPO) also witnessed participation of Ministry of Food Processing Industries, Agriculture and Processed Food Products Export Development Authority (APEDA) and apex industry bodies at Bharat Mandapam, New Delhi.  

 

This year, the exhibition was organised in an area of 1,10,000 sq.mtr. as compared to 90,000 sq.mtr. last year which has resulted in an increase in participation from 1,500 to 1,600 participants including participation from overseas companies from 12 countries including China, Germany, Iran, Italy, Japan, Nepal, Russia, Sweden, Taiwan, Turkey, Turkmenistan and the UAE.  

 

Aahar also witnessed product launches. Companies including Cargill, Barry Callebaut, Pansari Group, and Elanpro were amongst who unveiled their new products.

 

Sanjay Jain, director, Elanpro, said,  'We unveiled our latest innovations in commercial refrigeration space at Aahar. With our new range, we want to help food and beverage businesses reduce their carbon footprint.'

 

'Our new Reach-in freezer is an industry first. It is for the first time, a Reach-in with energy-saving Inverter Technology Compressor is launched in India. This innovation is expected to save almost 30% of electricity bills. In addition, our new generation of blast freezers, undercounters, vertical coolers, confectionery showcases, softy machines and buffet freezers are expected to set a new standard for efficiency and innovation in food and beverage retail,' said Jain.

 

Meanwhile, the display profile was segregated into different categories in various halls namely, Foreign Participation and FIFI Pavilion (Hall 1 GF), Confectionery & Bakery Products & Ingredients, ICMA (Hall 2 GF& FF), APEDA Pavilion (Hall 3 GF), Spices, Condiments Ingredients & Agri Produce(Hall 3 FF), Organic, Processed Food, Ingredients, Spices, Farm Produce, Fresh Fruits & Vegetables, Meat Products (Hall 4 GF& 4FF), Organic Processed Food, Ingredients, Spices, Farm Produce, Fresh Fruits & Vegetables, Meat Products, Chocolate Products (Hall 5 GF), Culinary Art India Show by Indian Culinary Forum (Hall 5 FF), Bakery Heavy Machinery Equipment, Tentage & Décor, Packaging, Kitchen & Hotel Equipment (Hall 6, Hall 7 (A-H), Kitchen & Hotel Equipment, Refrigeration (Hall 8-11, 12 & 12A, 14), Hospitality, Décor, Housekeeping Products, Gift Items (Hall 14FF), Hospitality, Décor, Housekeeping Products, Gift Items, Mist Coolers, Coolers & Fans (Open Area).

 

According to ITPO, this year too, a large number of trade visitors visited the fair.

 

These include top echelons of the hotel and hospitality industry including CEOs, General Managers, Executive Chefs, Executive House Keepers, Purchase Managers, F&B Managers and so on. Besides, senior representatives from Centre and State Government, catering industry and academic institutions, hotel management professionals also visited the fair.

 

'Unveiling India’s export potential, the fair assumes tremendous significance especially when there is a focus of the Union Government to promote agri-community as well as MICE (Meeting, Incentive, Conference and Exhibition) sector which complements the hospitality segment,' reads a statement of ITPO.

 

With the aim of empowering the farmers of the country by equipping them with information, services and facilities using digital technology, Union Minister of Agriculture & Farmers’ Welfare and Tribal Affairs Shri Arjun Munda today inaugurated the Agriculture Integrated Command and Control Center established at Krishi Bhawan, Delhi. On this occasion, Shri Munda said that this is an innovation of the Ministry of Agriculture and Farmers’ Welfare under the leadership of Prime Minister Shri Narendra Modi to make the farmers self-reliant across the country.

 

Union Minister Shri Munda said that work is being done with the basic mantra of Prime Minister Shri Modi - Minimum Government-Maximum Governance, so that it can be ensured that the life of a common man is not unnecessarily affected and they do their work wholeheartedly, independently and impartially and empower the nation by making themselves self-reliant, capable and empowered. With this aim in the mind, the Agriculture Ministry has today added this new digital dimension for the benefit of common farmers. Shri Munda said that today technology has become an integral part of everyone's life and the government has its own responsibility as a partner while technology further empowers it. He said that it is the government's intention to further support people so that everyone can get benefit from the technology. Shri Munda said that with complete transparency, commitment and goal, the government wants that even a common farmer living in a village can make themselves self-reliant with technology. He said that the Prime Minister always emphasizes on how we can provide better information, services and facilities to the farmers, how we can increase their production capacity and potential by acting as a partner. No matter how proficient we are in any field, agriculture is a particularly important task because humans cannot live without food. That is why; we have given importance to the agricultural sector and called farmers Annadata because it is through them that food grains are stored in the country.

 

Shri Munda said that the objective of the new initiative is to provide farmers the information about the reality in the farm and also to find out what are the real challenges our agriculture sector is facing. He said that with the availability of real-time data and its analysis, their problems can be resolved and capacity will be expanded and crops will be good, which will ultimately benefit the agriculture sector in the country. Union Minister said that the farmers will also be able to avail the benefits of the government schemes. This digital innovation is an important opportunity to reflect India in the 21st century. He said that trust is a strong foundation in human life and these efforts of the government will establish trust and a safe environment among the farmers.

 

Shri Munda said that Prime Minister Shri Modi has resolved to make India a developed nation by the year 2047, but such an India should not only be seen but should also be experienced. He said that India should not only become developed, but also a prosperous India should be created and through self-reliance the vision of ‘Ek Bharat Shreshtha Bharat’ should be realized. Then every person will feel proud and respected and our culture will be reflected in itself. Shri Munda said that citizens living in any part of the country are connected to every part of India's soil and our farmers are participating in the development of the country through farms. In this sequence, Agri Stack is an important initiative in digital agriculture. Under this, a digital crop survey has been started, in which the exact details of the crops of the farmers are being ascertained.

 

While congratulating on the occasion of Women's Day, Union Minister Shri Munda said that the Prime Minister has given a special gift to women by giving subsidy on LPG, while declaring this year as the Year of Women Power on Republic Day, the strength of women of the country has been presented before the world. He said that we can say with pride that India truly respects women. Shri Munda said that the innovations taking place in the agricultural sector can also be truly dedicated to women power.

 

In the starting of the event, Union Agriculture Secretary Shri Manoj Ahuja also presented his views. Additional Secretary of the Ministry, Shri Pramod Mehrada gave detailed information about the new initiative.

 

Multifunctional Centre- At the Command Centre, it will be possible to see all the digital innovations being made in the agriculture sector by the Ministry of Agriculture and Farmers’ Welfare on a big screen simultaneously at one place. By seeing plot level data obtained from soil survey, information obtained from crop survey through remote sensing technology, information given by meteorological department, data obtained from digital crop survey, information available on agricultural map, information available on the produce (Upag) portal created for agricultural statistics, at one place, it will be possible to analyze and take accurate decisions based on them, which will be very useful.

The Prime Minister, Shri Narendra Modi today hailed signing of India-EFTA Trade & Economic Partnership Agreement. 

 

He also shared his message to the signing of the pact. 

 

The Prime Minister replied to the Union Minister Shri Piyush Goel's post on X : 

 

'Delighted by the signing of the India-EFTA Trade & Economic Partnership Agreement. This landmark pact underlines our commitment to boosting economic progress and create opportunities for our youth. The times ahead will bring more prosperity and mutual growth as we strengthen our bonds with EFTA nations.'

Indian farmers are rapidly adopting the cultivation of exotic and premium fruits like avocados, blueberries, dragon fruit, and kiwis, fuelled by their growing preference in the domestic market and burgeoning exports.

 

These fruits offer up to 50% higher returns than other local fruits, according to experts. 'Over the last five years, farmers and entrepreneurs have realized the potential for exotic fruits and new varieties for both domestic and international markets,' said Purnima Khandelwal, chief executive of InI Farms, a large exporter of horticulture products.

 

Khandelwal said this was manifested in initiatives to grow dragon fruit, seedless watermelon, blueberries, red grapes, cantaloupes, avocado and kiwi.

 

Recognising the market potential, the Ministry of Agriculture and Farmers' Welfare has identified ten globally popular exotic fruit crops of commercial importance - avocado, blueberry, dragon fruit, figs, kiwi, mangosteen, persimmon, passion fruits, rambutans and strawberries, and directed state horticulture departments to expand the area under cultivation of these crops.

 

In 2023, the total area under cultivation for dragon fruit stood at 3,000 hectares. With increased demand, the government expects this to rise to up to 50,000 hectares in five years under the Mission for Integrated Development of Horticulture (MIDH) program. The total area under kiwi fruit cultivation in India is 5,000 hectares, yielding 16,000 MT production in FY2023, compared to negligible production in 2010, agriculture ministry data showed.

 

Producers and marketers for exotic fruits in India value the domestic market at an estimated?3,000 crores with core demand emerging from the top four metros, state capitals and tourist spots.

 

'With so many tourists around, exotic fruits are really popular in tourist spots such as Goa. Delhi, Mumbai are also among the biggest consumers of these items,' Harshit Godha, founder of Indo Israel Avocado, which helps farmers grow avocados.

 

Experts say India's varied agro-climatic conditions are a major factor driving local production of exotic items. '(With such varied agro-climatic conditions) Northeast is growing kiwi, Himachal Pradesh is growing new varieties of apple, Nashik is growing exotic grapes, Solapur is growing melons, Madhya Pradesh is growing berries, and Andhra Pradesh is growing avocado,' Khandelwal said.

 

Lucrative export market

 

Increased production is also propelling exports, albeit at a lower base. India had been exporting primarily to neighbouring countries but has now found markets in the UAE, Austria, and Canada for some of these fruits India's kiwi exports jumped to 528 tonnes in 2023 from just 0.35 tonnes six years ago.

 

Indo Israel Avocado, which imports avocado plants for farmers, has seen a huge demand for fruit. 'In the last three years, our total imports were 10,000 avocado plants. But in 2024 (calendar year), just the first consignment was 10,000 avocado plants,' said Godha.

The government is planning to procure 5 lakh tonnes of onions this year for its buffer stock that can be used to intervene in the market in case of a price rise, according to sources. The food and consumer affairs ministry had created 5 lakh tonnes of buffer stock last year, of which 1 lakh tonne is still available, they added.

 

Agencies like NCCF and NAFED will procure onion on behalf of the government.

 

Sources said that the government's decision to sell onions at a subsidised rate from its buffer stock has helped in controlling prices.

 

The government will take a decision on lifting the ban on onion exports later this month. The ban is till March 31.

 

The government's plan to create buffer stock comes amid an estimated fall in onion output in 2023-24.

 

'Production of onion in 2023-24 is expected to be around 254.73 lakh tonnes compared to around 302.08 lakh tonnes last year due to a decrease of 34.31 lakh tonnes in Maharashtra, 9.95 lakh tonnes in Karnataka, 3.54 lakh tonnes in Andhra Pradesh and 3.12 lakh tonnes in Rajasthan,' the agriculture ministry said in a statement on Thursday.

 

The decline in onion production in 2023-24 is 16 per cent compared to the previous year.

 

As per the data, onion production stood at 316.87 lakh tonnes in 2021-22.

The 38th edition of Aahar – the International Food and Hospitality Fair concluded here with a large participation from trade delegates from across the globe.

 

The five-day event hosted by India Trade Promotion Organisation (ITPO) also witnessed participation of Ministry of Food Processing Industries, Agriculture and Processed Food Products Export Development Authority (APEDA) and apex industry bodies at Bharat Mandapam, New Delhi.  

 

This year, the exhibition was organised in an area of 1,10,000 sq.mtr. as compared to 90,000 sq.mtr. last year which has resulted in an increase in participation from 1,500 to 1,600 participants including participation from overseas companies from 12 countries including China, Germany, Iran, Italy, Japan, Nepal, Russia, Sweden, Taiwan, Turkey, Turkmenistan and the UAE.  

 

Aahar also witnessed product launches. Companies including Cargill, Barry Callebaut, Pansari Group, and Elanpro were amongst who unveiled their new products.

 

Sanjay Jain, director, Elanpro, said,  'We unveiled our latest innovations in commercial refrigeration space at Aahar. With our new range, we want to help food and beverage businesses reduce their carbon footprint.'

 

'Our new Reach-in freezer is an industry first. It is for the first time, a Reach-in with energy-saving Inverter Technology Compressor is launched in India. This innovation is expected to save almost 30% of electricity bills. In addition, our new generation of blast freezers, undercounters, vertical coolers, confectionery showcases, softy machines and buffet freezers are expected to set a new standard for efficiency and innovation in food and beverage retail,' said Jain.

 

Meanwhile, the display profile was segregated into different categories in various halls namely, Foreign Participation and FIFI Pavilion (Hall 1 GF), Confectionery & Bakery Products & Ingredients, ICMA (Hall 2 GF& FF), APEDA Pavilion (Hall 3 GF), Spices, Condiments Ingredients & Agri Produce(Hall 3 FF), Organic, Processed Food, Ingredients, Spices, Farm Produce, Fresh Fruits & Vegetables, Meat Products (Hall 4 GF& 4FF), Organic Processed Food, Ingredients, Spices, Farm Produce, Fresh Fruits & Vegetables, Meat Products, Chocolate Products (Hall 5 GF), Culinary Art India Show by Indian Culinary Forum (Hall 5 FF), Bakery Heavy Machinery Equipment, Tentage & Décor, Packaging, Kitchen & Hotel Equipment (Hall 6, Hall 7 (A-H), Kitchen & Hotel Equipment, Refrigeration (Hall 8-11, 12 & 12A, 14), Hospitality, Décor, Housekeeping Products, Gift Items (Hall 14FF), Hospitality, Décor, Housekeeping Products, Gift Items, Mist Coolers, Coolers & Fans (Open Area).

 

According to ITPO, this year too, a large number of trade visitors visited the fair.

 

These include top echelons of the hotel and hospitality industry including CEOs, General Managers, Executive Chefs, Executive House Keepers, Purchase Managers, F&B Managers and so on. Besides, senior representatives from Centre and State Government, catering industry and academic institutions, hotel management professionals also visited the fair.

 

'Unveiling India’s export potential, the fair assumes tremendous significance especially when there is a focus of the Union Government to promote agri-community as well as MICE (Meeting, Incentive, Conference and Exhibition) sector which complements the hospitality segment,' reads a statement of ITPO.

The highly anticipated India Plant-Based Foods Show 2024, organised by the Plant Based Food Industry Association (PBFIA), igniting a wave of innovation and collaboration in the food industry, concluded at the prestigious Bharat Mandapam, Pragati Maidan, New Delhi, March 7, 2024. The show was presented on the 1st day of Aahar, by the Ministry of Agriculture & Farmers Welfare, The Agricultural and Processed Food Products Development Authority (APEDA), ICAR- Indian Council of Agricultural Research (ICAR), India Trade Promotion Organisation (ITPO), US Soybean Export Council (USSEC), Indian Chamber of Commerce (ICC), Pall Corporation and ProVeg International, and EY as the Knowledge Partner.  

 

The event was supported by international and national startups and companies like Thryve Plant-Based Venture, Plantaway Foods, Continental Greenbird, Patanjali Foods - Ruchi Soya, Nutricircle Limited, Veganta, DBS Bank, Roundtable on Sustainable Palm Oil (RSPO), Right to Protein, Hello Tempayy, and Acme Group.  

 

The show served as a visionary platform for industry leaders and entrepreneurs across the world, over 40 startups globally and presentations from more than 35 distinguished speakers including Abhishek Dev, chairman of Agricultural and Processed Food Products Export Development Authority (APEDA); Inoshi Sharma, executive director of FSSAI; Dr Sudhanshu, secretary of APEDA; Satyam Shivam Sundaram – partner, Ernst and Young, Valeria Kryntskaya, head Plant-Based venture, Thryve, Dubai; Victor Sonovas, commercial attache, Embassy of Spain and many more.

 

Sanjay Sethi, executive director of the PBFIA, emphasised the imperative of seizing the challenges confronting the industry by transforming them into opportunities. Among these challenges lies a notable market gap: the demand for high-quality ingredients to combat the locally produced raw material shortage. Addressing this gap, with initiatives such as India’s First Plant Protein Cluster at Bhiwadi, not only facilitates the production of superior products but also plays a pivotal role in enhancing consumer perceptions across various product categories. Moreover, it provides a platform for refining the positioning of plant-based alternatives, ensuring they resonate with evolving consumer preferences for sustainability, health, and taste. By prioritising the sourcing and utilisation of premium ingredients, the industry can fortify its offerings, elevate standards, and cultivate trust and loyalty among discerning consumers.

 

Dev highlighted the growth of the plant-based foods industry stating the capability of the current global market of $11.3 billion to reach $36 billion by 2033. The Chairman also expounded on the potential of Indian market having a CAGR of 15% and industry estimate of $5 billion dollars by 2033. Asserting APEDA’s support, he said, 'With a target of increasing exports by 100 billion by 2033, we aim to incorporate plant-based foods as a focus product in our export strategy and offer subsidised rates for startups to be part of upcoming conventions, helping them to emerge in the market.'

 

Sharma said, 'Our perception of the plant-based foods has been a huge challenge, which is mostly due to their presentation in the society. The regulations on the startup industry, especially the classification of soy milk as a beverage is a matter of contention and needs to be addressed.'

 

In partnership with EY, PBFIA also launched its breakthrough report, ‘Food Tomorrow: Elevating India’s Role in the Plant-Based Revolution’ exploring the potential for plant-based nutrition in India, with a particular emphasis on plant-protein clusters. Satyam Shivam Sundaram, Partner, Ernst and Young affirmed their support for plant-based choices and stated, 'We need to collaborate and lead the way of sustainability and healthy choices. Together, we can achieve more at a lesser cost. As a part of this common goal, we need to facilitate research and developments, offer space for innovation and create holistic ecosystems. Through proper education and awareness, we can have a major shift in the perspective, making plant-based food mainstream instead of it being an alternative.'

 

Kalpana Das, a renowned human right activist and the wife of chief justice of India, pointed her perspective of consuming milk to be cruelty and advised to adopt soy-based and other plant-based options aiding in the reduction of carbon footprint.

 

The 4th Mega Convention by PBFIA focused on evincing the limitless possibilities of plant-based foods through an exhibition, followed by demonstrations and panel discussions, highlighting the positive impacts of plant-based foods on the environment and health.  Among the highlights of the event was the Startup Pitch Session, where aspiring entrepreneurs presented their ideas to a panel of industry experts and investors. There were stimulating discussions about ways to enhance the customer experience through B2B, B2C and D2C modes involving an insightful panel of Amarjit Singh Ahuja of Purchasing Professional Forums India, Ashu Phakey of ITC and Dhiren Kawar of Keva Flavours.  

 

The session also focused on understanding the need for grooming talent pool for plant-based food industries through a panel discussion led by chef K. Thiru, Principal of Welcome group School of Hotel Management, Manipal University. Following the need for innovation, an erudite panel discussed various ways of replacing conventional dairy and animal products with plant-based alternatives. Closing the forum, Sethi hosted conversations with the founders of various companies, concentrating on the ability of plant-based foods to deliver sustained nutrition.