Food Processing AUGUST 2012 - IBEF · IIP – Index of Industrial Production Food Processing -10-5 0 5 10 15 20 FY06 FY07 FY08 FY09 FY10 FY11 FY12 Annual growth of Food products &

1 1

Food Processing

For updated information, please visit www.ibef.org

AUGUST

2012

2 2

Contents

Advantage India

Market overview and trends

Growth drivers

Success stories: Operation Flood, Amul

Opportunities

Useful information


Food Processing AUGUST

2012

3 3

Food Processing

For updated information, please visit www.ibef.org ADVANTAGE INDIA

Advantage India

AUGUST

2012

Advantage India

• Demand growth for processed food has been rising with growing disposable income, urbanisation, a young population and nuclear families

• Household consumption is set to double by 2020

• India benefits from a large agriculture sector, abundant livestock, and cost competitiveness

• Investment opportunities will arise in agriculture, food infrastructure, and contract farming

• Government expects USD21.9 billion of investments in food processing infrastructure by 2015

• Investments, including FDI, will rise with strengthening demand and supply fundamentals

• Sops to private sector participation; 100 per cent FDI under automatic route

• Agri Export Zones have been set up; under the government’s Vision 2015 plan, mega food parks to be established

Domestic food

spending: USD318 billion

2020E

Domestic food

spending: USD181 billion

2009

Notes: 2020E – Estimate for 2020; estimates are from Flavours of Incredible India (Ernst & Young, 2009)

FDI – Foreign Direct Investment

Strong demand growth Food processing hub

Increasing investments Policy support

4 4

Contents

Advantage India


Growth drivers


Opportunities

Useful information



2012

5 5 For updated information, please visit www.ibef.org MARKET OVERVIEW AND TRENDS

The food processing sector comprises six major segments

Food Processing

Food processing

Fruits and vegetables

Milk and milk products

Meat and poultry

Marine products

Grain processing

Consumer food

India is the world’s second largest producer of fruits and vegetables

India is the largest producer of milk in the world

India was the largest producer of buffalo meat (1.4 MT) and the second largest producer of goat meat (0.5 MT) in FY10

India is the third largest producer of fish in the world

India is estimated to have produced about 250 million tonnes of food grains in FY12

Among the fastest growing segments in India; it includes –

Packaged food

Aerated soft drinks

Packaged drinking

water

Alcoholic beverages

Source: Indiabusiness.nic.in, Ministry of Agriculture, Meat & Poultry Processing Board, FAOSTAT

Note: FY – Indian financial year (April – March) MT: Million Tonnes

AUGUST

2012


→ The food processing industry has emerged as a key component of Indian manufacturing; while the sector’s total output stood at USD93.1 billion in FY10, it accounted for nearly 7.5% of aggregate gross value added of major industries during that year

→ The size of the sector has been growing fast; output expanded at a CAGR of 16.9 per cent over FY05-10

Processed food output

Source: Annual Survey of Industries (ASI) 2009-10, Aranca Research

Total output of food products and beverages totalled USD93.1 billion in FY10

Source: Ministry of Food Processing Industries ( MOFPI), Annual Survey of Industries 2009-10 Aranca Research

Notes: CAGR – Compound Annual Growth Rate

Food Processing

0%

5%

10%

15%

20%

25%

30%

0

10

20

30

40

50

60

70

80

90

100

FY05 FY06 FY07 FY08 FY09 FY10

Processed food output (USD billion) Growth - right axis

AUGUST

2012

7 7

Strong growth in the sector also evident from trends in IIP

For updated information, please visit www.ibef.org MARKET OVERVIEW AND TRENDS

→ Although figures for output of food products and beverages from ASI are not available post FY10, data from the Index of Industrial Production (IIP) suggest strengthening growth momentum in ‘food products and beverages’ in FY11-12

→ Growth for ‘food products and beverages’ shot up to

14.8 per cent in FY12 from 8.9% in FY11; the sector was the second-fastest growing sub-segment within manufacturing in FY12 and its growth far outpaced that of the overall manufacturing sector in the fiscal year

Annual growth of ‘food products and beverages’ from IIP (%)

Source: Ministry of Statistics and Programme Implementation (MOSPI), Aranca Research

Notes: ASI – Annual Survey of Industries IIP – Index of Industrial Production

Food Processing

-10

-5

0

5

10

15

20

FY06 FY07 FY08 FY09 FY10 FY11 FY12

Annual growth of Food products & beverages as per IIP

Annual growth of overall manufacturing sector as per IIP

AUGUST

2012


→ Exports of processed food and related products* stood at USD19.7 billion in FY11, thereby recording an average annual growth of 14.7% since FY09

→ Main export destinations for food products have been

the Middle East and South East Asia

Exports of processed food and related items (USD billion)

Source: Agriculture & Processed food products Export Development Authority (APEDA,) Aranca Research;

* includes APEDA products (processed fruits and vegetables, animal products, cereals, and other processed food items) and Non-APEDA products (oil meals, marine products, spices, sugar

and molasses, tea, coffee, etc.)

Food Processing

6.7 6.2 8.2

8.3 7.4

11.5

0

5

10

15

20

25

FY09 FY10 FY11

Export of APEDA products Export of Non APEDA products

Exports of processed food and related products has also been rising steadily

AUGUST

2012


→ In FY11, APEDA products had 41.6 per cent share in total exports; non-APEDA products made up the rest

→ Within APEDA products, cereals had the highest share (37 per cent) while for non-APEDA products marine products dominated with a share of about 21 per cent

Shares in exports of processed food and related products (FY11)

Food Processing

Shares in non -APEDA exports (FY11)

Source: APEDA, Aranca Research

Shares in APEDA exports (FY11)


21%

20%

20%

14%

11%

14%

Marine Products

Sugar &Mollasses

Oil Meals

Spices

Tea & Coffee

Others

37%

25%

9%

29%

Cereals

Animal products

Processed Fruits &Vegetables

Other processedfoods

AUGUST

2012

10 10 For updated information, please visit www.ibef.org

Large presence of the unorganised sector … (1/2)

MARKET OVERVIEW AND TRENDS

→ The unorganised sector accounts for 42 per cent of India’s food processing industry

→ The sizeable presence of small scale industries points to the sector’s role in employment generation

Unorganised sector has the largest share in the sector *

Source: Ministry of Food Processing Industries, Aranca Research * The figures have been taken from MOFPI’s annual report for FY10 where FY indicates Indian financial year (April – March)

Food Processing

42%

25%

33%

Unorganised sector

Organised sector

Small scaleindustries

AUGUST

2012


Large presence of the unorganised sector … (2/2)

MARKET OVERVIEW AND TRENDS

→ Rice mills account for the largest share of processing units in the organised sector

→ The government’s focus on infrastructure is likely to see a sharp rise in the number of cold storage units in the years ahead

Shares in production by value and volume (FY11)

Source: Ministry of Food Processing Industries, Aranca Research

Food Processing

70%

50%

30%

50%

By Volume By Value

Unorganised sector Organised sector

AUGUST

2012


→ In FY09, the sector employed 48 million people

→ Policymakers have identified the food processing sector as a key one in encouraging labour movement from agriculture to manufacturing

Healthy contribution to employment generation (FY09)


Food processing is a key contributor to employment generation in India

Notes: FY – Indian financial year (April – March)

Food Processing

Food processing

industry

Direct employment

(13 million)

Indirect employment

(35 million)

AUGUST

2012


Notable trends in the Indian food processing sector

Changing consumer tastes

Entry of international companies

• Liberalisation and growth of organised retail have made the Indian market more attractive for global players

• With a large agriculture sector, abundant livestock, and cost competitiveness India is fast emerging as a sourcing hub of processed food

Rising business and product innovation

• Companies have been moving up the value chain; for example, cooperatives are transitioning from being pure producers of milk to offering a wide range of dairy products

• Firms, both domestic and global, have been focussing on product innovation to cater to domestic tastes, while also introducing international flavours

• Wide array of products, coupled with increasing global connectivity has led to a change in the tastes and preference of domestic consumers

• This trend has been bolstered by rising incomes, increasing urbanisation, a young population, and the emergence of nuclear families


2012


Cooperatives dominate dairy sector; private players lead others

Food Processing

Alcoholic beverages

Aerated soft drinks and packaged drinking water

Packaged food

Fruits, vegetables, processed grain

Cooperative societies: Gujarat (GCMMF), Andhra Pradesh (APDDCF), Karnataka (KMF), Maharashtra (Mahasangh), Punjab (MILKFED), Tamil Nadu (TCMPF), Delhi (NDDB)

Milk and milk products

Meat, poultry and marine products

Consumer food

AUGUST

2012

15 15

Contents

Advantage India


Growth drivers


Opportunities

Useful information



2012

16 16 For updated information, please visit www.ibef.org GROWTH DRIVERS

Strong fundamentals and policy support aiding growth

Strong

government

support

Large domestic

market

Growing demand Strong domestic demand Supply-side advantages Rising export opportunities

Rising disposable incomes

Growing middle class,

urbanisation, a young population

Changing lifestyles and food

habits

India’s greater integration with the

global economy

Proximity to key export

destinations

Expected spike in global demand as emerging markets grow at a fast pace

Favourable climate for

agriculture; wide variety of crops

Large livestock base aids dairy and meat

processing sector

Inland water bodies, long

coastline help marine products

Food Processing

Policy support

Vision 2015 plan targets trebling of food processing

sector

Mega food parks, Agri Export Zones to attract FDI and aid infrastructure

End goal is to make India a global food

processing hub

AUGUST

2012


Source: IMF WEO (April 2012), Aranca Research Note: E- estimate

Income growth is a key driver of growing domestic demand for processed food

GROWTH DRIVERS

Rising disposable incomes

• Strong growth in per-capita income has resulted in greater demand for food items

• There has also been a shift in demand –

• From carbohydrates to meat products (in line with the various phases of economic growth)

• To convenience foods, organic and diet foods

Food Processing

-5%

0%

5%

10%

15%

20%

25%

30%

0

500

1000

1500

2000

2500

2001 2003 2005 2007 2009 2011E 2013F 2015F 2017F

Per capita income, USD, LHS Annual growth rate, RHS

Rising per-capita income in India

AUGUST

2012


Source: McKinsey Quarterly, Aranca Research

A growing middle class and urbanisation has also aided growth in the sector

GROWTH DRIVERS

Growing middle class, urbanisation

• Strong economic growth since the 1990s has led to–

• Rapid urbanisation and a growing middle class

• Nuclear families and dual income households

• Coupled with a young population and increasing media penetration, this has led to a surge in demand for packaged food, alcoholic and non-alcoholic beverages, snacks, savouries, etc

Food Processing

Strivers: annual income

INR500,000-1,000,000

Seekers: annual income

INR200,000-500,000

Deprived annual income

<INR90,000

Aspirers: annual income

INR90,000-200,000

Globals: annual income

>INR1,000,000

0

10

20

30

40

50

60

70

2005 2010 2015 2020 2025

million households

Strivers Seekers Deprived Aspirers Globals

Changing wealth dynamics of India’s population

AUGUST

2012


Source: IMF WEO (April 2012), Aranca Research

Exporters gaining from rising global demand and location advantages … (1/2)

GROWTH DRIVERS

Rising demand from rest of the world

• Share of exports in total output of processed food stood at 21.2 per cent in FY11

• This has primarily resulted from –

• Greater exports to advanced economies

• More demand from emerging/ developing economies as they experience strong growth

Food Processing

%

Growth in key regions of the global economy

-4

0

4

8

12

16

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Emerging & Developing economies Central & Eastern Europe

Developing Asia Latin America & the Caribbean

Middle East & North Africa

AUGUST

2012



Exporters gaining from rising global demand and location advantages … (2/2)

GROWTH DRIVERS

Supply-side advantages

• Growth in food product exports has been aided by –

• Significant improvements in product and packaging quality

• Greater private sector participation

• India has a location advantage – it is geographically close to key export destinations (Middle East, South East Asia)

• United Arab Emirates was the top export destination of processed food and agriculture related products, followed by Saudi Arabia and the United States

Food Processing

Top ten destination countries of India’s exports of processed food and agriculture related products (in USD million)

298 338 401 464 502

591 650 672

967 1,079

0

200

400

600

800

1000

1200

Pak

ista

n

Ku

wai

t

Ind

on

esi

a

Vie

tnam Ir

an

Ban

glad

esh

Mal

aysi

a

Un

ite

d S

tate

s

Sau

di A

rab

ia

UA

E

AUGUST

2012


India has a distinct competitive advantage over peers

GROWTH DRIVERS

Food Processing

→ India’s comparative advantage lies in its favourable climate, large agriculture sector and livestock base, long coastline, and inland water resources

→ India also has an edge in cost of production compared to its competitors in Asia and the developed world

Units Global rank

Arable land (million hectares) 157.9 2*

Area under Irrigation (million hectares)

63.1 1*

Coast line ('000 kilometers) 7 18#

Cattle (million) 210.2 1**

Source: World bank, FAOSTAT, CIA World Fact book, Aranca Research Notes: * - for the year 2009; # - for the year 2011; ** - for the year 2010

Production (million tonnes)

Global rank (2010)

Milk (Cow & Buffalo)

107.2 1

Pulses (nes) 7 1

Fruits (fresh, nes) 9.6 1

Bananas 31.9 1

Tea 0.9 2

Rice (Paddy) 120.6 2

Sugarcane 277.8 2

Vegetables (fresh, nes)

34.8 2

Wheat 80.7 2

Potatoes 36.6 2

AUGUST

2012

22 22 For updated information, please visit www.ibef.org GROWTH DRIVERS

Notes: FDI – Foreign Direct Investment

Food Processing

• 100 per cent FDI under automatic route (except for alcohol, beer, and sectors reserved for small scale industries)

• Repatriation of capital and profits permitted

Encouragement to private sector

Tax incentives and other sops

• Import duty scrapped on capital goods and raw materials for 100 per cent export-oriented units

• 100 per cent tax exemption for 5 years followed by 25 per cent tax exemption for the next 5 years for new agro-processing industries

Relaxed FDI norms

• 100 per cent export-oriented units are allowed to sell up to 50 per cent of their produce in the domestic market

• Export earnings are exempted from corporate taxes

Strong policy support gives food processing sector a boost … (1/2)

AUGUST

2012


Strong policy support gives food processing sector a boost … (2/2)

GROWTH DRIVERS

Food Processing

• Assigned priority sector for bank credit

• 60 Agri Export Zones (AEZ) have been set up across the country

• Setting up of 10 mega food parks with investments worth USD23 million

• Government announced setting up of 15 Mega Food Parks in its FY12 Budget, as part of the third phase of Mega Food Park Scheme

Focus on infrastructure

• Investment-linked tax incentive of 100 per cent deduction of capital expenditure for setting up and operating cold chain facilities (for specified products), and for setting up and operating warehousing facilities (for storage of agricultural produce)

Incentives for development of storage

facilities

AUGUST

2012


Agri Export Zones in India

GROWTH DRIVERS

Food Processing

Andhra Pradesh: vegetables, mango pulp, grapes, gherkins

Maharashtra: Grapes, grape wine, mangoes, flowers, onion

West Bengal: Pineapple, litchi, Darjeeling tea, vegetables

Uttar Pradesh: Basmati rice, potatoes, mangoes, vegetables

Uttaranchal: Basmati rice, aromatic and medicinal plants

Madhya Pradesh: Onions, garlic, seed spices, lentils

Karnataka: Gherkins, rose, onions, flowers, vanilla

Tamil Nadu: Flowers, mangoes, cashew nuts

Jammu & Kashmir: Apples, walnuts

Punjab: Basmati rice, vegetables

Himachal Pradesh: Apples

Rajasthan: Coriander, cumin

Gujarat: Mangoes, vegetables, sesame seeds

Assam: Ginger


20

8 6

5

5

4

4

4 4

Maharashtra

West Bengal

Andhra Pradesh

Madhya Pradesh

Karnataka

Uttaranchal

Uttar Pradesh

Tamil Nadu

Other States

AUGUST

2012


→ FDI inflows into agriculture and food processing between Apr 2000 and Feb 2012 stood at USD4.5 billion

→ Demand growth, supply advantages, and policy support have been instrumental in attracting FDI

Foreign investments flowing in; rise in plan expenditure … (1/2)

GROWTH DRIVERS

Food Processing

Notes: FDI – Foreign Direct Investment,

Cumulative FDI inflows (Apr 2000–Feb 2012) into the food and agriculture sector

Source: Department of Industrial Policy & Promotion, Aranca Research

0

200

400

600

800

1000

1200

1400

1600

Agr

ise

rvic

es

Foo

dp

roce

ssin

g

Ferm

en

tati

on

Ve

geta

ble

oil

Agr

im

ach

ine

ry

Tea

and

coff

ee

Suga

r

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

Cumulative FDI inflow (USD million)

Share of total FDI inflow (%) - right axis

AUGUST

2012


→ GOI expects USD21.9 billion of investments in food-related infrastructure from the private sector

→ The government’s main focus is on supply-chain related infrastructure like cold storage, abattoirs and food parks

Foreign investments flowing in; rise in plan expenditure … (2/2)

GROWTH DRIVERS

Food Processing

11th Five Year Plan (2007-12) outlay shares: food processing

Source: Ministry of Food Processing Industries (2009-10 Annual Report), Aranca Research

65%

15%

6%

2% 8%

4% Infrastructure development

Technology upgradation

Setting up/ upgradation ofquality control

Human resourcedevelopment

Strengthening ofinstitutions

Quality enhancement ofstreet foodPlan allocation to the food processing sector:

USD0.8 billion

Notes: GOI – Government of India

AUGUST

2012


Rising Private Equity (PE) funding; M&A activity stable … (1/2)

GROWTH DRIVERS

PE investments in the food and agriculture totaled USD650 million during 2008-11

Company Investor Type of business Deal value (USD

million)

Nuziveedu Seeds Blackstone Group Floriculture 80.0

Prakash Snacks Pvt Ltd Sequoia Capital Snacks 30.0

Amalgamated Beans Coffee Trading Co Darby Asia Investors Non-citrous fruit farming

25.0

Bush Foods Overseas Pvt Ltd Standard Chartered Pvt Eq Ltd Rice milling 25.0

Tirumala Milk Products Carlyle Group Milk production 22.0

The CREMICA Group Motilal Oswal Private Equity Advisors General food products

15.0

Nashik Vinters Verlinvest SA Wine and liquor 15.0

Parag Milk & Milk Products Motilal Oswal Private Equity Advisors Dairy products 14.1

Godrej Tea IL&FS Investment Managers Coffee Coffee and tea 13.5

Food Processing PE

dea

ls

Jan

2010

– A

pr 2

012

AUGUST

2012


Rising Private Equity (PE) funding; M&A activity stable … (2/2)

GROWTH DRIVERS

Source: Thompson One Banker, Aranca Research Notes : M&A – Mergers and Acquisitions

Food Processing

M&A activity was steady in 2011; NSL Sugar Ltd’s 100% acquisition of Jay Mahesh Sugar Industries Ltd was one of the highest by value

Target company Acquirer company Type of business Deal value

(USD million)

GMR Industries Ltd EID Parry Sugar 114.8

Jay Mahesh Sugar Industries NSL Sugars Ltd Sugar 51.99

Eastern Condiments McCormick & Co Seasonings, sauces 35.0

Krishidhan Seeds Summit Partners Agricultural seeds 30.0

Bajaj Hindustan Sugar & Ind Bajaj Hindusthan Sugar, ethanol 14.1

Associated Distilleries Globus Spirits Liquor 14.0

Candico India Keventer Agro Candy items 11.2

M&

A d

eals

Ja

n 20

10 –

Apr

201

2

AUGUST

2012


→ Players like McCormick had identified India as a strategic market way back in the 1990s

→ Global players like Hershey are now keen on entering the increasingly attractive Indian market

→ Established players like Nestle and Coke are extending their global JVs to India

Sector has been attracting foreign JV partners for a long time

GROWTH DRIVERS

Foreign Players Indian Partner Type of business Stake ratio Year

Dan Cake Phadnis Group Cake and biscuits 66:34 2011

McCormick Kohinoor Foods Ltd Basmati and food products 85:15 2011

McCormick Eastern Condiments Seasonings 26:74 2010

Nestle, Coca Cola -- Beverage 50:50 2010

Hershey Godrej Chocolates 51:49 2007

McCormick AVT Spices 50:50 1994

Source: Thompson ONE Banker, Aranca Research Note: JV – Joint Venture


2012

30 30

Contents

Advantage India


Growth drivers


Opportunities

Useful information



2012

31 31 For updated information, please visit www.ibef.org SUCCESS STORIES: OPERATION FLOOD, AMUL

Operation Flood: India gains self sufficiency in milk production … (1/2)

Food Processing

→ Operation Flood was initiated in 1970 by the National Dairy Development Board to achieve national self sufficiency in milk production by creating nationwide milk grids; under Operation Flood –

→ India’s milk production rose to 88.1 million metric tonnes (mmt) in FY04 from 21.2 mmt in FY1969

→ India retained its position as the world’s largest milk producer in 2010-11 with an annual production of 121.8 million tonnes.

→ Dairy cooperatives offer employment opportunities to about 12 million farm families

Source: National Dairy Development Board, GCMMF (www.amul.com), Aranca Research

AUGUST

2012


Source: GCMMF (www.amul.com), Aranca Research

Food Processing

Operation Flood: India gains self sufficiency in milk production … (2/2)

Dairy cooperative societies (‘000)

Members (million)

Milk procurement (million kg/ day)

Liquid milk marketing (million litres/ day)

Milk drying capacity (million tonnes/ day) 261

2.9

2.6

1.8

13.3

842

10.0

11.0

9.3

72.5

507.5

5.0

5.8

3.6

34.5

PHASE I

(Jul-1970 to

Mar-1981)

PHASE II

(Oct-1979 to

Mar-1985)

PHASE III

(Jul-1985 to

Mar-1996)

AUGUST

2012


Source: GCMMF (www.amul.com), Aranca Research Notes: CAGR – Compound Annual Growth Rate

FY – Indian financial year (April – March)

Food Processing

The Amul saga: a cooperative movement leads the way … (1/2)

→ Gujarat Cooperative Milk Marketing Federation (GCMMF) is the largest food products marketing organisation in India

→ Set up in 1967, it is India’s largest exporter of dairy products and has been accorded ‘trading house’ status

0.5 0.6 0.6 0.6 0.8

0.9 1.1

1.4

1.7

2.0

2.4

0.0

0.5

1.0

1.5

2.0

2.5

3.0

FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12

CAGR 17.4 %

GCMMF (Amul) sales (USD billion)

AUGUST

2012


Food Processing

The Amul saga: a cooperative movement leads the way … (2/2)

→ Main brand: Amul

→ Products: milk (including flavoured), butter, margarine, cheese, curd, desserts, infant food

Facts and Features

Producer members (million) 3.03

Village societies 15,712

Milk handling capacity (million litres/ day) 13.67

Total milk collection (FY11, billion litres) 3.45

Daily milk collection (FY11, million litres) 9.2

Milk drying capacity (million tonnes/ day) 647

NOTABLE AWARDS Authority

Excellent performance in dairy product exports for 11 consecutive years

APEDA

CIO International IT Excellence Award (2003) for positive business performance through resourceful IT management and best practices

IDG’s CIO Magazine

(USA)

International Dairy Federation Marketing Award (2007) for Amul’s pro-biotic ice cream launch

International

Dairy Federation

Source: GCMMF (www.amul.com), Aranca Research

AUGUST

2012

35 35

Contents

Advantage India


Growth drivers


Opportunities

Useful information



2012

36 36 For updated information, please visit www.ibef.org OPPORTUNITIES

Notes: PPP – Public Private Partnership, AEZ – Agri Export Zones

FDI – Foreign Direct Investment

Opportunities

Food Processing

Untapped market with strong growth potential

• Fragmented market leads to lower processing levels and value addition

• The government plans to raise value addition to 35 per cent by 2015 (from 20 per cent in 2005)

• PPP modules ideal for the private sector

• Strong demand growth – household consumption set to double by 2020

Potential global outsourcing hub

• Global supermarket majors are looking at India as a major outsourcing hub

• India enjoys favourable supply-side fundamentals (abundant raw materials supply, cost advantages)

• The government has helped by investing in AEZs, mega food parks, easier credit

Supply chain infrastructure and contract farming

• Both firms and the government are eager to boost efficiency and access to markets

• Investment potential of USD22 billion in food processing infrastructure; 100 per cent FDI in this area

• Firms increasingly taking recourse to contract farming in order to secure supply

AUGUST

2012

37 37

Contents

Advantage India


Growth drivers


Opportunities

Useful information



2012

38 38 For updated information, please visit www.ibef.org USEFUL INFORMATION

Industry Associations

Agricultural and Processed Food Products Export Development Authority (APEDA) NCUI Building 3, Siri Institutional Area, August Kranti Marg, New Delhi – 110 016 Phone: 91 11 26513204, 26514572, 26534186 Fax: 91 11 26526187 E-mail: [email protected] Marine Products Export Development Authority (MPEDA) MPEDA House, Panampilly Avenue PB No 4272, Cochin-682 036 Phone: 91 484 2311979/2311803 Fax: 91 484 2313361 e-mail: [email protected], [email protected]


2012


Glossary

→ AEZ: Agri Exports Zones → MFP: Mega Food Parks

→ CAGR: Compound Annual Growth Rate

→ FDI: Foreign Direct Investment

→ MT: Million Tonnes

→ IIP: Index of Industrial Production

→ FY: Indian Financial Year (April to March)

→ So FY12 implies April 2011 to March 2012

→ GOI: Government of India

→ INR: Indian Rupee

→ PPP: It could denote two things (mentioned in the presentation accordingly) –

→ Purchasing Power Parity (used in calculating per-capita GDP)

→ Public Private Partnership (a type of joint venture between the public and private sectors)

→ PE: Private Equity

→ APEDA: Agriculture & Processed food products Export Development Authority

→ GCMMF: Gujarat Cooperative Milk Marketing Federation

→ USD: US Dollar

→ Conversion rate used: USD1= INR48

→ Wherever applicable, numbers have been rounded off to the nearest whole number

USEFUL INFORMATION


2012

40

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Disclaimer

For updated information, please visit www.ibef.org DISCLAIMER


2012

Documents

Food Processing AUGUST 2012 - IBEF · IIP – Index of Industrial Production Food Processing -10-5 0 5 10 15 20 FY06 FY07 FY08 FY09 FY10 FY11 FY12 Annual growth of Food products &