Facilitating investment in organic food business through the right policies
Description
The Indian government has undertaken several policy initiatives to promote organic farming and organic food exports, and many domestic and foreign companies have responded positively to these measures. This column reports findings from a survey of 75 companies that sought to understand their views on the growth potential of this sector and what policies can support the growth. India, with a wide range of agro-climatic conditions, has the potential to produce a variety of organic crops. In 2015, India ranked 1st in terms of the number of organic producers, 9th in terms of the area under organic agriculture, and 11th among organic product exporters. While only 0.7% of the land in India in 2015 was under organic cultivation, the country ranked 3rd in terms of increase in land under organic cultivation, after Australia and the US1. According to a report by TechSci Research in 2015, the size of the Indian organic food market was estimated to be around Rs. 33.5 billion, and it was projected to grow at a compound annual growth rate (CAGR) of approximately 25% during 2015-2020. The corresponding figure for the global organic food market was over 16%. Read more at: https://www.ideasforindia.in/topics/agriculture/facilitating-investment-in-organic-food-business-through-the-right-policies.html
Copyright Date
September 2017
Publication Date
25-9-2017
Publication Title
Ideas for India
Publisher
International Growth Centre (IGC), Tata Centre for Development (TCD)
Keywords
Economic policy, Agriculture, Organic farming, Organic food processing, Organic products
Source Link URL
https://www.ideasforindia.in/topics/agriculture/facilitating-investment-in-organic-food-business-through-the-right-policies.html
