Industry must work collaboratively to expand from 6% to 60% in food processing sector: Patanjali CEO
There exists huge potential in the Indian food processing industry. At present it is just mere 6% whereas countries abroad have this sector up to 90% said Acharya Balkrishna, CEO, Patanjali Ayurveda.
He was speaking at ‘Made in India : International Food Importer Meet’.
Talking at the event, he further said that India being the second largest population, it is essential for the country to develop the food processing sector firstly to cater the domestic need and also to expand its presence worldwide.
Citing the problem that surrounds the sector he said that there exists a huge gap between the food processor and the food producer. There must be collective efforts taken to bridge this gap.
Talking about his own food processing unit Patanjali, the CEO said that the company intends to achieve a target of Rs 10,000 crores by the end of the year. The company also plans to set up plants in Nagpur, Noida, Indore and Andhra Pradesh.
Balkrishna further said that his company is working on major research units in herbal medicines as well.
The two day event is expected to be attended by importers from various countries including Qatar, Bahrain, Oman, Saudi Arabia and UAE. (KNN/ DA)