18, Oct 2023
Vision 2047: NIFTEM-K and IFBA ideate a $1.5 Trillion target for India’s Food Processing Sector

Vision 2047: NIFTEM-K and IFBA ideate a $1.5 Trillion target for India's Food Processing Sector

New Delhi, October 18, 2023 – The National Institute of Food Technology Entrepreneurship and Management (NIFTEM-K), in collaboration with the Ind Food and Beverage Association (IFBA), commemorated World Food Day 2023 on October 16, 2023, at the NIFTEM-K Campus. The event, themed “Food for a Better Tomorrow – Building Synergies,” emphasised the significance of food security, sustainable practices, and India’s pivotal role in the global food landscape.

The event commenced with a ceremonial lamp lighting ceremony, featuring several esteemed dignitaries in attendance. Among the participants were senior government officials and representatives from prominent industry organisations, including IFBA (Ind Food and Beverage Association), IBA (Indian Beverage Association), PBFIA (Plant-Based Foods Industries Association), and IHA (India Honey Alliance), leading NGOs, Private Equity Funds and Advisory companies.

Smt. Anita Praveen, Secretary, Ministry of Food Processing Industries, Government of India, said, “We all recognize that food is an elemental necessity. But equally critical is water. So, today’s theme, ‘Water for Food,’ is of paramount importance. Water is life; it’s food in its own right, as all the foods we consume contain a significant water component. It’s essential for the survival of not only humans but also animals, plants, and indeed, the very essence of our planet. It is imperative that we regard this matter with the utmost seriousness and strive to ensure that we do not deplete this invaluable resource. We must ensure that the next generation has enough, and secure the Earth’s survival for future generations.”]

Dr. Harinder Singh Oberoi, Director of NIFTEM-K stated, “It’s a great moment for NIFTEM-K to celebrate World Food Day alongside the Ind Food and Beverage Association and other Food Industry Associations. NIFTEM-K is dedicated to collaborating with the Food Industry to develop innovative, healthy, and delicious food products, address food processing and safety concerns, and extend the shelf life of various food products. This collective effort on World Food Day sets a positive tone for strengthening the bond between NIFTEM-K and the Food Industry, ultimately reducing food wastage in the country.”]

Adding to the spirit of Public, Private and Academia partnerships, Deepak Jolly, Chairperson of IFBA, remarked, “This collaborative effort epitomizes the essence of ‘Food for a Better Tomorrow – Building Synergies.’ We take great pride in being part of an event that not only shines a spotlight on India’s dynamic presence in the global food landscape but also underscores our shared dedication to promoting sustainable practices within the F&B sector. Entrepreneurship is a Buzzword in the Indian Food sector. With a number of so many MSMEs and startups starting F&B in India, I am sure NIFTEM-K will become an anchor and a pilot for many such projects of the industry.”

The event featured global speakers, venture capitalists, NGOs, and representatives from various sectors of the Food and Beverage (F&B) industries. Participating stakeholders including NGOs, Associations, Embassy of Italy besides host of Large and small F&B companies included Coca-Cola India, Bisleri, KRBL Limited, Prowess Advisors, Ferrero India, Dabur India Ltd, Embassy of Italy, HUL, McDonald’s, Auric, Mrs Bectors Food, Tata NourishCo among others. Engaging panel discussions covered topics such as water management in agriculture and F&B Industry, food processing technology, sustainability, food safety and security, and the outlook and vision for the sector in 2047.

The first session on ‘Advanced Water and Food Processing Technologies for Sustainable Water Use’ made waves with its focus on digitization, innovation, IoT, and the essential 3Rs: Reuse, Recycle, Reduce as well as conservation. It showcased the blueprint for NIFTEM-K’s cutting-edge referral laboratory and industry reports that champion ‘water savings’ as a cornerstone of sustainability. The session also underlined the importance of water budgeting, making this an important point in the corporate announcement reports.

The second session, titled “Processed Foods – Enhancing Food Safety & Security” explored critical aspects of ensuring the nutritional quality and safety of processed foods. It underscored the importance of techniques to preserve nutrients during processing, such as pH and temperature control, and the value of enrichment and fortification in addressing micronutrient deficiencies. The speakers highlighted how packaged and processed food ensure safety, minimising chances of adulteration, ensuring higher quality, equitable distribution across the length and breadth of the country and significantly enhancing affordability as well as the accessibility.

The third session on “Vision 2047: $1.5 Trillion Contribution of India’s Food Processing Sector”emphasized the rapid growth of the economy with millions of people being pulled out of extreme poverty, rising per capita income and the emergence of a burgeoning middle class. This presents a significant opportunity for the F&B industry to meet the quality nutritious food requirement of an aspiring Indian population.Large companies as well as startups are exuberant about achieving USD 1.5 trillion goal for the economy. The session also highlighted the food industry’s importance, especially in light of its
prominence at this year’s G20 summit, and its critical role in India’s GDP growth. It stressed the need for
accelerated progress in the sector, calling for increased collaboration between industry and academia to
drive technology-driven innovations.

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