Food industry to grow 11% annually: IIMC & Academic Foundation

Q.  Country’s food industry is going to grow by how much in 2018 as per IIM-C and Academic Foundation report?
- Published on 17 Nov 15

a. 11%
b. 12%
c. 13%
d. 14%

ANSWER: 11%
 
The food industry of the country is pegged to grow 11% annually to reach INR 4 lakh crore by 2018, pas per the research report. The industry is current valued at USD 39.71 billion, according to a joint report by IIM-C and Academic Foundation. Food and grocery are a considerable part of India’s consumption accounting for 31% of the consumption basket. India’s retail market is expected to grow by USD 865 billion by 2023 currently valued at USD 490 billion.

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