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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.