November 27, 2009
India poultry sector value seen to reach US$12 billion by 2015
The Indian poultry industry is expected to grow from an estimated Rs 30,000 crore (US$6 billion) to over Rs 60,000 crore (US$12 billion) by 2015.
India's Food processing minister Subodh Kant Sahai said the country's poultry industry has been growing at 8 to 15 percent annually which hoisted India as the world's fifth largest egg producer and ninth largest broiler producer.
Sahai said the government launched a comprehensive scheme for modernisation of abattoirs across the country in line with industry's aim to improve quality of meat and poultry products.
Expressing concern over the mere 2 percent contribution of India in global meat production, he said the industry should take particular care to avoid contamination and deterioration of meat and its products. The government had allowed 100 percent FDI (foreign direct investment) in the sector to tap the opportunities available in the section, he added.
Secretary Ashok Sinha from the Ministry of Food Processing Industries pointed the need to frame a strategy for the development of meat and poultry production in the country. This would bring prosperity to millions in rural India and create employment opportunities, he added.
US$1 = INR46.96 (Nov 27)
