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Market News
Need focus on branding and promotion of plant-based food industry: Prahlad Patel.
May 27, 2022
Minister of State for Food Processing Industries Prahlad Singh Patel on Thursday emphasised the need to reduce compliance requirements as well as focus on branding and promotion for the growth of the nascent plant-based food industry. The minister inaugurated the 1st Plant Based Foods Summit organised by the Plant Based Foods Industry Association (PBFIA) and Good Food Institute India (GFI India).
According to a statement issued by PBFIA, Patel said he personally supports plant-based foods.
However, the minister also said everyone is free to make their own choices when it comes to food.
Patel emphasised the need to develop this industry through lesser compliance requirements as well as research and innovation.
'By minimising compliance, we can quickly develop this industry. I am urging the need to develop the scientific parameters and supply chains that will allow us to showcase the Indian cuisine culture that has represented us for centuries,' he said.
Agricultural And Processed Food Products Export Development Authority (APEDA)Secretary Sudhanshu said, 'we are all aware that the plant food business is on its way to reaching a significant degree of growth and emphasis, as seen in recent years both internationally and in India.'
'Food is a customer's choice; it is up to the consumer to decide what he wants to eat. Though awareness is crucial, since it influences the consumer's decision, and the consumer's choice determines the market's demand. Whether it's a domestic or foreign market, the decision determines the market's demand,' he said.
Sanjay Sethi, Executive Director of PBFIA, said, 'everyone wants to invest into our plant-based food business in India because they see how quickly it is growing in importance and value in the national and worldwide markets.'
'In the sector, there is a link amongst sustainability, nation, health, humanity, and animal welfare,' he added.
Going forward, he said the association will campaign for policy reforms to eliminate trade restrictions and unfair practices that restrict growth of the industry.
Over 30 startups showcased their products at the summit.
brandequity.economictimes.indiatimes.com
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