In a strategic move to enhance the food processing sector, the Centre organized a high-level CEO roundtable on September 19, 2024, as part of the World Food India 2024 event. Co-chaired by Commerce & Industry Minister Piyush Goyal and Food Processing Industries Minister Chirag Paswan, the roundtable brought together over 100 senior executives from leading food companies to address pressing industry concerns.
The meeting focused on various challenges related to ease of doing business, GST rates, and misconceptions surrounding processed food items. Executives voiced their demands for a reduction in GST rates on several food products, highlighting the need for a more favorable tax structure to encourage growth in the sector.
Paswan emphasized the roundtable's role in facilitating open dialogue between industry representatives and government officials. “Our objective is to provide a platform for food industry leaders to share their concerns and suggestions with the government,” he stated. The discussions aimed to identify specific challenges and explore potential solutions to foster a thriving food processing environment in India.
A key takeaway from the meeting was the call for state-level promotion of the food processing sector to position India as a global hub for food products. "We discussed various challenges, including taxation and misleading advertisements, and sought to find solutions for some of these issues," added.
Concerns regarding the GST framework were notably addressed, with Paswan assuring attendees that these issues would be brought to the GST Council for further deliberation. The roundtable also featured participation from key figures such as Minister of State for Food Processing Ravneet Singh Bittu and ministers from Andhra Pradesh and Gujarat.
Discussions covered a range of topics, including maximum residue limits (MRL), the Production-Linked Incentive (PLI) scheme, and the ease of doing business in the food sector. One notable concern raised was the ongoing export of 'maida' (refined flour) despite a ban on wheat exports, prompting discussions on regulatory frameworks.
Participants also highlighted the inverted-duty structure and called for PLI schemes to align more closely with global market conditions. The engagement at this roundtable reflects the government's commitment to bolstering the food processing industry, with a focus on collaboration and proactive solutions.
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