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India Forward: West Europe set to be the new export market

The Trade Promotion Council of India (TPCI) jointly with the Department of Commerce, Ministry of Commerce and Industry organises an export-focused food and beverages annual trade fair named Indusfood.

The first edition was held on January 14-15, 2018 which saw 40 countries participation with 350 Indian exhibitors and 455 global buyers which culminated into a total business of USD 650 Million which in itself is a resounding success. Now European supermarket chains and top manufacturers of processed food will be sourcing their Food and Beverage(F&B) requirements from India. As per Government, the Indusfood-II is expected to see the participation of more than 600 global buyers from around 50 countries.

It is pertinent to note that such direct Business to Business meets establish direct contacts and provide an opportunity for Indian companies to display their offerings to the major retail chains across the globe. It would be difficult as well as costly for small exhibitors to approach multinational companies individually hence such initiatives are appreciated by all participants across the supply chain.

With retailers like Panda of Saudi Arabia, Magnet of Russia, BIM of Turkey or Rewe of Germany domestic companies will have direct access to international markets.

Such little yet significant steps shall put India on the global F&B map while creating domestic jobs and earning foreign exchange for the country.

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Ashutosh Muglikar
Articles on Corporate Laws, Policy, Economics and Politics. Maverick. Lover of Ideas. Slayer of Hoaxes.

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