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Food industry is a $3.2 trillion industry worldwide. Only 6% of the processed food is currently traded worldwide. However, in the past two decades the global imports have increased at a CAGR of 5.56%, indicating an increase in processed food trading.
India is the 4th largest exporter of all agricultural products. India is also a major producer of grains, vegetables, fruits and animal products. With all these produces, Indian food processing industry is worth $135 billion and is expected to grow at a CAGR of 10%.
Odisha is one of India’s agriculturally rich states. It is one of the largest producer of fruits, rice, pulses and major crops in the country. Odisha has 363,000 hectares of area under agriculture and horticulture, which has been increasing over the years. The state houses a large poultry industry, which is recognized as an agricultural activity. The State has excellent potential in developing value added products from dairy.
With all the available resources, Odisha intents to be a major destination for investments in the agro/food processing sector. The state has identified agro and food processing infrastructure as a priority sector for interventions. As an initial step to encourage food processing infrastructure, the state houses 274,000 MT of cold storage facilities.
Recognizing the potential of Food processing industry, the state has formulated an exclusive Food processing policy in 2013 itself, providing incentives to units willing to set up food processing investments in the state. To provide fillip to the Food processing industry, the policy provides a one-time capital grant towards development of Food Parks.
To encourage investments in the sector, two Mega Food Parks are under development. These exclusive parks being developed in Rayagada and Khurda offer plug and play infrastructure with cold storage facilities, testing labs, skill development centers creating a complete ecosystem to the development of the industry.
The state has also identified the sector as a priority sector, as part of the IPR – 2015 and is according special incentives to the investor units.
Opportunities are abound in the field of rice processing, support infrastructure, vegetable processing and poultry sectors. Odisha welcomes investments in this sector and shall provide ‘single point’ services to the interested investors. Further details and information about the sector and incentives are available in the detailed profile.
India is the second largest producer of seafood in the world with its 8,118 km long coastline. India is also one of the largest exporters of shrimps to the markets of Europe, Japan and US. The exports has also seen an unprecedented 42.6% growth over 2013-14.
Odisha, with its long coastline of 480 km, has setup suitable infrastructures facilities to enable seafood processing such as marine fish landing centers, processing plants, marine crafts, ice plants, cold storages and peeling sheds.
An exclusive Sea Food Park is under development to boost the opportunities in the sector. The Greenfield cluster at Deras houses state-of-the-art common infrastructure for collective processing of seafood products. It houses exclusive common facilities for sea food processing like cold storage, pre-processing center, block ice factory, skill development center, polythene unit, R&D center, etc. It is the only such facility on the east coast of India. With all the required infrastructure and utilities available, this park will provide the necessary base to setup a competitive seafood unit.
The Industrial Policy 2015 has identified seafood processing as a thrust sector and has made special incentives for the development of this sector. Other than IPR, the Odisha Food Processing policy also provides for various incentive schemes for investors in this sector. Further details and information about the sector and incentives are available in the detailed profile.
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