India situated in southern Asia is unique and unparalleled in its location and nature. India, a vast subcontinent, varied and complex in its rich heritage and astounding diversity of religions, languages, and cultures is among the oldest in the world. The diverse culture of living food practices, customs, religions, arts, dance, music, architecture, yoga, meditation, and languages is a way of life for the people of India.
India is recognized for its rich heritage and culture. But, today it is also emerging as a global economic power with imigne dynamism.
India has always had a strong focus on Science and Technology, realizing that it is a key element for economic growth. With support from the government, considerable investment and development has occurred in different sectors such as agriculture, healthcare, space research, alternate energy like nuclear power, Food Science and Technology through scientific research and its advancement.
Modern India is now set to emerge as one of the fastest-growing economies in the world. Some of the important Indian businesses are in the sectors of Agriculture and Plantation Crops, Automobiles, Aviation, Banking, Biotechnology, Cement, Financial Services, FOOD INDUSTRY, Healthcare, Information Technology, Oil & Gas, Retail, Steel, Textiles, Telecommunications, Tourism & Hospitality and Education at all Levels and capacity Development to mention a few. With these numerous sectors on the horizon, the scope of doing business in India has grown by magnitudes of Orders.
The Indian food industry, one of the largest industry sectors in India is poised for continuous and huge growth, increasing its contribution to world food trade every year. The food industry, which is currently valued nearly at US$ 40 billion, is expected to grow at a compounded annual growth rate (CAGR) of 11 per cent to near US$ 70 billion by 2018. The Indian food and grocery market is currently the world's sixth largest with retail contributing to 70 per cent of the sales. The Indian food retail market is expected to reach US$ 915 billion by 2020 (Source: Indian Food Processing Industry Analysis-IBEF India Brand Equity Foundation).
With a population of over 1.2 billion, qualified human resources, more liberalized process of business, science based robust food safety standards, a rapidly expanding middle class eager to spend on processed and packed food, a brand savvy and adventurous mindset, India is perhaps emerging as the best destination to do business in food sectors that offers untapped opportunity for global stakeholders throughout the food chain. The presence of global industries and the small & medium scale industries have revolutionized Indian market and consumer demand.
The IUFoST congress at Mumbai in 2018 is the right time and place to tap these opportunities dynamically and lift IUFoST to higher orbits for its global presence through Academia, R&D Institutions, Industries and Public - Private sector interface with the right ambiance that we have in India for encouraging and consolidating this sector. Welcome to IUFoST 2018 in India. Please plan well ahead of time to make the most of your visit.