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Food processing sector achieves GVA over Rs 2 lakh crore past two fiscals
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Monday, 22 September, 2025, 08 : 00 AM [IST]
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Ashwani Maindola, New Delhi
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The Indian food processing sector has witnessed a significant achievement over the past two fiscals wherein the Gross Value Addition remained above Rs 2 lakh crore.
In the last five years since 2020-21, when the growth rate was negative, the sector has recovered and in the last two fiscal years the processing sector remained above Rs 2 lakh crore in terms of GVA.
As per the Ministry of Food Processing Industries (MoFPI), the Gross Value Addition for the fiscal 2023-24 was recorded at Rs 2.24 lakh crore with a growth percentage of 7.55% over the previous fiscal year 2022-23 wherein the GVA was Rs 2.08 lakh crore.
The food processing sector has grown substantially, averaging an annual growth rate of around 7.3%, during 2015-2022. The sector had contributed 10.54% of the Gross Value Added (GVA) in manufacturing and 11.57% of GVA in agriculture sector in 2020-21.
Meanwhile, agro food products’ exports reached 49.43 billion USD in 2024-25 which was 3 billion USD more from the fiscal 2023-24. However, a comparison with the 2022-23 fiscal shows a downfall from 51.06 billion USD but remained close.
India's food processing sector's market size is estimated to more than double from Rs. 2,641,121 crore (US$ 307 billion) in 2023 to Rs. 6,022,100 crore (US$ 700 billion) in 2030 driven by growing demand for processed products, according to PHD Chamber of Commerce and Industry (PHDCCI).
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