Tier-II and tier-III cities could mirror the trend visible in metropolitan areas, by buying more processed food in the coming years
The pandemic could aid the growth of the food processing market in India, consultancy firm KPMG has said in a new report. Tier-II and tier-III cities could mirror the trend visible in metropolitan areas, by buying more processed food in the coming years, with the pandemic restricting mobility thus forcing people to work and learn from home, the report states. As a result, the food processing market could touch $470 billion by 2025 from $263 billion in 2020, an increase of more than $200 billion in five years. The report says the central government needs to negotiate more free-trade agreements with foreign nations, and also invest in testing and certification to meet stringent hygiene standards of these countries to improve exports.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Sun, May 09 2021. 22:33 IST