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Tue 21st of November 2017

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World Food India

What is it?

A global event to facilitate partnerships between Indian and international businesses and investors, World Food India (WFI) is a gateway to the Indian food economy and an opportunity to showcase, connect, and collaborate.

Organized by the Ministry of Food Processing Industries, Government of India, WFI will be the largest gathering of investors, manufacturers, producers, food processors, policy makers, and organizations from the global food ecosystem. It aims to provides opportunities for both investment and trade in the food processing sector for leading Indian and international companies. Encompassing the entire food spectrum from production to consumption, WFI is looking at creating a better sourcing environment, thereby enabling higher returns for farmers, creating employment, and fostering entrepreneurship.

Why India?

The second largest producer of farm produce in the world and the third largest economy in terms of Purchasing Power Parity (PPP), is a promising place to be in. With a massive food market that is fast-expanding, exciting growth in the retail sector, and attractive economic policies and fiscal incentives, India's food economy is thriving.

The largest producer. The largest consumer.

The advantage of India's food sector

  • India's food and grocery market is the sixth largest in the world.
  • The annual growth rate of the food processing sector is more than 7%.
  • India's online food delivery industry grew 150% in 2016.
  • Food retail is the next big opportunity with a share of 70% in the total retail market.
  • India offers the largest diversified production base.
  • Growing infrastructure support:

                 1)42 Mega Food Parks are being set up to promote food processing clusters
                 2)The government has recently sanctioned 101 new integrated cold chain projects

  • Advancing technology & equipment:

                 1)New and emerging technology in fruits & vegetables processing, cold storage, reefer containers, IQF processing, pack houses, and packaging
                 2)Food testing labs

A favourable economic and business environment

  • India's GDP growth in 2016 has been at 7.6%.
  • Large skilled workforce.
  • 100% FDI through automatic route in food processing.
  • 100% FDI in retail marketing of food products that are produced and / or manufactured in India, including through e-commerce.
  • Proactive policy support.
  • Single-window clearance.

 

 

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Prelims Question of the Day

With reference to 'Natural Rate of Unemployment', consider the following statements.

1. It is the level of unemployment in an economy that is just consistent with a stable rate of Inflation.

2. It is the unemployment that prevails when all markets in the economy are in equilibrium.

 

(a)1 and 2

(b)2 only

(c)1 only

(d)None of the above

Mains Question of the Day

1.GS-No party in power can afford to ignore Directive Principles of State Policy. Comment.(200 Words)

2.Political Science - Explain the role of non state actors, like IMF, World Bank, European Union and MNCs, in modulating and transforming the broad dynamics of international relations. (250 Words).

3.SOCIOLOGY - What is the impact of Globalization on the structure and mobilization of the working class in India? (250 Words).

Sociology - Thinkers