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Milling Business in India has about 11.2% of arable land in the world. It is also the 6th largest food and grocery market in the world. The food processing industry in the country is seeing the upward trend because of the increased presence of global players, the better purchasing power of the common man, rising retail trade, and urbanization.
The government of India is also supporting the cause with 100% foreign direct investment permitted for food processing industries.
What are the Different Types of Milling Business in India that are Profitable?
Recommended Post: How to Setup an Import Export Business in India: A Guide for Entrepreneurs.
As per a report from the World Bank, 52% of the Indian population earns a livelihood through agriculture. India is the second-largest producer of rice in the world after China and third largest producer of wheat after China and EU countries and ranks 7th in corn production in the world.
When it comes to exports, India stands second in exporting rice and sixth in exporting corn in the world. India also exports wheat but follows an unstable route.
The number of registered food processing units in 2014-15 was 38608. The food processing industry alone gives employment to about 12.77% of India’s population. The industry contributes 9% and 11% respectively to India’s GDP in manufacturing and agriculture sector. The industry also contributes to about 13% to India’s exports.
In the wood industry, the demand for wood is expected to increase from 85 million cubic meters in 2008 to 150 million cubic meters by 2018. In the paper industry, due to the unavailability of raw material in the domestic market, India has been importing paper from ASEAN countries.
The number of spinning mills in India in 2012-13 was around 1762 and composite mills were 199 numbers; exclusive weaving mills were 173 in number and power loom units were around 3.12 lakh.
What are the Required Milling Business Registrations and Licenses?
Also, Read: Profitable Milling Business Opportunities in India.
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