Can food processing industry eradicate hunger and boost the Indian Economy? An overview

As we know India has got a strong agricultural base and the variety of climatic zones continues to face a significant challenge in its goal to feed its population. India stood 94 out of 107 on the Global Hunger Index. Although India achieved selfsufficiency in food production till now,15 per cent of the population is undernourished in the Indian population suffering from malnutrition and stunted growth. The present population of India is 1.36 billion and is projected to increase to 1.6 billion by 2050. In India, food inflation and food security are considered major issues at a policy-maker level. On another hand since the last decade recent changes in agro-food markets of both developed and developing countries due to changing lifestyle, modernization, and young population which is responsible for the increase in the public demand for quality food and safe food. It is accelerating economic growth and, holds significant potential for the food processing industry. The processing of food products can address these two issues effectively. But several factors like lack of availability of adequate infrastructural facilities, lack of adequate quality control, inefficient supply chain due to a large number of intermediaries, the high requirement of working capital etc. hampering the growth of the industry. The government of India is putting lots of effort to improve this sector under the ministry of the food processing industry. As part of its new economic policy now the country is allowing 100 per cent FDI, tax exemption, relaxation in export policies, etc. because a developed food processing sector can help to overcome the biggest challenge of malnutrition, and hunger eradication, and this is the sector that can easily change the face of the Indian economy.