Kundli, Jan 17 (KNN) The Ministry of Food Processing Industries and Startup India are set to inaugurate the Food Processing & Allied Sectors’ Startup Conclave on February 13 to 14, 2024 at NIFTEM – Kundli, Haryana.

The prestigious event will be inaugurated by Hon’ble Minister of Food Processing Industries Pashupati Kumar Paras.

The two-day event will feature activities aimed at engaging and empowering stakeholders.

It includes a Showcase Opportunity, providing startups a platform to exhibit innovations, knowledge sessions offer insights and expertise on industry trends, pitching sessions enable startups to present ideas to investors and industry leaders, networking opportunities facilitate interactions, fostering collaboration among startups, established companies, and other stakeholders.

This Startup Conclave aims to foster collaboration, knowledge sharing, and promote startups.

It seeks to bring together startups, established companies, research institutions, and government agencies to pool resources and develop innovative solutions collaboratively.

The conclave emphasises knowledge sharing to facilitate the exchange of experiences and industry insights for nurturing startup growth.

Additionally, it provides platforms for startups to showcase innovations, gain exposure, and attract potential investments, contributing to the overall advancement of the food processing industry.     

Currently, there are approximately 3800 startups in the food processing space, with Maharashtra, Delhi NCR, Karnataka, Tamil Nadu, and Telangana emerging as the top 5 States/UTs.

Moreover, around 7800 startups are actively participating in the food and allied sectors.

The enthusiasm for innovation in the field is evident, with 140 startups applying for the Food Processing Grand Challenge.

Over the past five years, ending in 2019-20, the food processing sector has shown an impressive average annual Growth Rate (AAGR) of around 8.38 per cent, outpacing agriculture's growth rate of approximately 4.19 per cent (at 2011-12 prices).

This sector holds the distinction of being the largest employment provider in the country, engaging nearly 21 Lakh people in the organised and 51 Lakh in the unorganised segment.        

(KNN Bureau)