According to a Ernst & Young report on the Indian food industry titled ‘ Flavours of Incredible India – Opportunities in the Food Industry', investment opportunities in the Indian food industry are set to shoot up by a huge 42.5 per cent to $181 billion in 2015 and to $318 billion by 2020.
While there are several in-house industry research departments carrying out extensive studies in new product development, there is major presence of research institutes under the government of India initiative. These include Mysore-based Central Food Research and Technological Institute (CFTRI), Defence Food Research Laboratory (DFRL), National Dairy Research Institute, Karnal and Bangalore, National Research and Development Centre(NRDC) which is based out of both New Delhi and Bangalore, Hyderabad’s National Institute of Nutrition, working under the aegis of the Indian Council of Medical (ICMR) Research and the Ministry of health and family welfare, Central Institute of Fisheries Technology, part of Indian Council of Agricultural Research and Central Poultry Development Organizations located at its four regional centres of Chandigarh, Bhubaneswar, Mumbai and Bangalore.
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Download report: CFTRI