Indian processed food exports have leapt 194% in the last four years to US$13.9 billion in 2006-07 the according to figures from a KPMG-FICCI report.
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The report continued that India’s domestic food processing industry is projected to grow at 9-12% this year. Vegetable processing which is 2% of total production will increase to 10% by 2010 and 25% by 2025.
The Ministry of Food Processing and Industries is targeting a two-fold increase of the global market share from 1.6% to 3% by 2015.
Domestic market share of “processed foods” in the total food market is 32% or US$69bn.
