‘Indian food service sector size Rs 4 lakh cr, employs 7.3 mn’

Source: ETRetail.com, May 20, 2019

New Delhi, Riding on urbanisation, rising income levels and improved investment climate, India’s food service sector has grown at 11 per cent in the last three years and is estimated at Rs 423,865 crore in 2018-19, proving employment to some 7.3 million people, a report released on Monday said.

Growing at 9 per cent, it is projected to reach Rs 599,784 crore by 2022-23, the National Restaurants Association of India (NRAI) said in its India Food Services Report 2019.

“The growth is noticeable at the segment and format levels of the sector,” the report said, adding that the organised segment, which holds a 35 per cent share, grew 13 per cent in the last three years and is estimated at Rs 148,353 crore in 2018-19. It is estimated to grow at 15 per cent to Rs 257,907 crore in 2022-23.

Within the organised sector, affordable casual dining restaurants accounted for a whopping Rs 60,255 crore in 2018-19 and fine diners for Rs 2,872 crore with PBCLs (pubs, bar cafes and lounges) and cafes in between at Rs 17,979 crore and Rs 9,370 crore, respectively. Read the rest of this entry »

Food Corporation takes fresh NSSF loan of Rs 60,000 crore

Source: Financial Express, Apr 14, 2019

Prodded by the Centre, the Food Corporation of India (FCI) has taken a fresh loan of Rs 60,000 crore from the National Small Savings Fund (NSSF) just before the fiscal year came to an end. What necessitated the loan was the Centre’s inability to foot the budgeted food subsidy bill in its entirety, given a big revenue shortfall (the tax revenue fell short of the revised Budget estimate by a whopping Rs 1 lakh crore).

Repayment of the loan is the Centre’s obligation.

With the latest decision, the government has resorted to the NSSF loan for the third year in a row to ensure that FCI’s operations are unaffected owing to its funds constraints. The Centre’s dues to the FCI has now touched an all-time high of Rs 1.95 lakh crore, and unless it finds budgetary resources soon to salvage the situation, it could be looking at a debt trap. Read the rest of this entry »

Food safety, excise commissioners to enforce norms for alcoholic beverages

Source: The Hindu Business Line, Apr 04, 2019

New Delhi: With the new regulations for alcoholic beverages notified by the FSSAI, coming into effect from April 1, the excise commissioners and food safety commissioners will be working closely to enforce these regulations at the State-level.

Since alcohol-beverage makers have been allowed to use old unused labels and printed cans for the next six months, the labelling norms for alcoholic beverages, which include putting a mandatory statutory warning, will only get implemented from October 1. The alcohol-beverage makers will need to get requisite approvals from the Excise Department for making changes in their labels.

Pawan Agarwal, CEO, FSSAI, said, “The implementation of standards for alcoholic beverages sector is a significant step to improve the quality and safety of these beverages. Thus far, the sector was primarily being regulated by the excise commissioners and they were only looking at the alcohol content and presence of toxic substances in alcohol. Now there are far more elaborate standards benchmarked with global standards, while in certain cases, Indian standards have also been kept into consideration.” Read the rest of this entry »

Online food ordering market to touch $17.02 bn by 2023: Study

Source: The Hindu Business Line, Mar 26, 2019

Guwahati: The online food ordering market in India is likely to grow at over 16 per cent annually to touch $ 17.02 billion by 2023, according to a study by business consultancy firm Market Research Future.

The study, titled ‘Digital Platforms Reign in the Food Ordering Market’, said the growth in online food ordering market has been attributed to the rising number of women in working population in most of the metro cities.

“The Indian online food ordering market is slated to grow at a CAGR (compound annual growth rate) of 16.2 per cent at $ 17.02 billion by 2023,” it said.

According to the study, 95 per cent of the respondents surveyed order food online, owing to promotional offers and discounts, while 84 per cent individuals said its hassle-free and time-saving. Read the rest of this entry »

India expects increase in export of fruits and vegetables post Brexit

Source: The Economic Times, Mar 15, 2019

Pune: As the uncertainty about UK’s exist from the European Union (EU) on March 29 continues, Brexit related volatility on GBP is likely to have only short term impact on fruits and vegetable exports from India to the UK. The trade is confident that in the long term, Indian fruit and vegetable exports will stand to gain as UK accounts for the largest share of India’s export to the EU.

India exported fresh vegetables worth Rs 168 crore and fresh onions worth Rs 12.7 crore to the UK in 2017-18, and trade sources said about 30 tonnes to 50 tonnes of vegetables are shipped to London on a daily basis. These declined by about 20% in the summer season when Indian vegetables grown in southern Europe compete with vegetables exported from India.

Indian exporters expect that after Britain leaves EU, they may not have to face competition from southern Europe. Read the rest of this entry »

Gram Samridhi Yojana: New scheme to help unorganised food processing sector

Source: The Economic Times, March 01, 2019

India’s food processing ministry is working on a new scheme — Gram Samridhi Yojana — to bolster the unorganised food processing sector concentrated in rural areas, an official said.

About 66% of unorganised food processing units are in rural areas and of these, 80% were family run.

The Rs 3,000 crore scheme funded by the World Bank and the centre will help cottage industry, farmer producers’ organisation and individual food processors to increase capacity, upgrade technology besides skill improvement, entrepreneurship development and strengthening the farm-tomarket supply chain. Read the rest of this entry »

The new food factories: Inside India’s organics trade

Source: LiveMint.com, Jan 14, 2019

New Delhi: In a bid to maintain good health, Manisha Bhardwaj, a software professional working in Noida, and her banker husband, Sakal Bhardwaj—both turning 40—have decided to bring some changes in their lifestyle and food habits. The couple has not only joined a gym to lose weight but has also completely switched to organic foods—ranging from organic fruits, vegetables, pluses to organic rice.

“Earlier, I was buying vegetables from a local vendor. But now, I order vegetables and fruits from websites that sell organic stuff,” said Manisha Bhardwaj. “In grocery stores too, my first preference is organic foods now,” she added.

The Bhardwaj family is not the only one undergoing this kind of transformation. Annu Gupta, a yoga and fitness trainer, also ensures that she buys all her vegetables and fruits from a local farm in Faridabad, which claims to be organic and supplies produce across Delhi-NCR. Read the rest of this entry »