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Ac­cord­ing to the In­dia Re­tail Re­port 2017-18, The In­dian food in­dus­try is poised for huge growth, in­creas­ing its con­tri­bu­tion to world food trade every year. The In­dian food re­tail mar­ket was es­ti­mated at ₹30,92,311 crore (USD 483.17 bil­lion) in 2016 – a mar­ket size of more than half of In­dia’s to­tal re­tail mar­ket.

Grow­ing at 14.4 per­cent an­nu­ally the mar­ket is ex­pected to achieve a size of ₹53,05,488 crore (USD 828.98 bil­lion) by 2020. Food re­tail mar­ket is dom­i­nated by raw and pro­cessed food items hav­ing 90 per­cent share in the to­tal mar­ket; the other 10 per­cent share is held by food ser­vice(horeca) seg­ment.

Food ti­tans dis­cussed what the key growth driv­ers and emerg­ing trends, the is­sues and chal­lenges are, how In­dia-ori­gin brands are lever­ag­ing tra­di­tions and cus­tomer emo­tions, and what are they do­ing dif­fer­ently to take on global be­he­moths in a ses­sion ti­tled: ‘Serv­ing One Bil­lion Plus Con­sumers: Build­ing the Over­all Pie of Modern Re­tail Food Re­tail Through In­no­va­tion, Ideashow the Food In­dus­try Will Evolve In The Next Decade’.

The ses­sion was mod­er­ated by Sadashiv Nayak, CEO, Fu­ture Re­tail. Join­ing the panel were Arvind Var­chaswi, Man­ag­ing Di­rec­tor, Sri

Sri Tattva; Hari Menon, Founder & CEO, big­bas­ket; Jamshed Da­boo, MD,

Trent Hy­per­mar­kets; Piruz Kham­batta, CMD, Rasna; Sau­gata Gupta, MD & CEO, Marico.

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