Indian Food Processing Sector Needs $30bn Investment, Report

India needs about $30bn to increase its volume of processed products to 10% of overall output by 2015, according to a new report.

The Associated Chambers of Commerce and Industry of India said the investment would also see processed food exports rise 70% to $25bn a year within five years.

The growth is expected to be driven by a 650% increase in the number of middle-class consumers of processed foods over the next two years and demand for health and functional foods, it said.

Currently, India processes over a third of its milk, 26% of its fisheries output, a fifth of all its buffalo meat, 6% of poultry and 2.2% of fruit and vegetables, the body said.

The report predicts the figures could rise to about 40% for fisheries, close to 15% for poultry, 60% for milk and 40% for buffalo meat.