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MFIL was a wholly owned Central Government-owned PSU. This was the first privatisation of public sector unit by the government of India. Modern Foods had over 40% of the bread market in India. [3] HUL was the sole bidder for Modern Foods. It paid Rs 10.5 million, as per the valuation exercise undertaken by its valuer ICICI, for 74% of the shares.
The FMCG industry is the fourth largest sector in the Indian economy. [1] Household and personal care products accounts for 50% of the sales in the industry, healthcare accounts for 31-32% and food and beverage accounts for the remaining 18-19%. [1]
Confederation of Indian Food Trade and Industry (CIFTI) caters to the Indian food Industry. It deals with policies, trade affairs and capacity building. [9] CIFTI provides institutional support and partners with the Government and the Indian private sector in promotion and development of Indian food processing industry.
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Induction of modern technology into the food processing industries from both domestic and external sources. Maximum utilization of agricultural residues and by-products of the primary agricultural produce as also of the processed industry. To encourage R&D in food processing for product and process development and improved packaging.
The first convocation of the institute, held in February 2018, was attended by the President of India, Ram Nath Kovind. [7] In 2018, the Minister of Food Processing Industries Harsimrat Kaur Badal inaugurated four incubation centres for product testing and development and a food-testing laboratory, with an investment of ₹ 50 crore (US$5.8 ...
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Its primary function is to promote the export and development of agricultural and processed food products in India. It also monitors the import of sugar. APEDA also functions as the secretariat to the National Accreditation Board (NAB) for the implementation of accreditation of the certification bodies under National Programme for Organic Production (NPOP) for organic exports.