Plant protein, export is an opportunity for Indian farmers to increase their income: PBFIA
According to Sanjay Sethi, Executive Director of the Plant Based Foods Industry Association (PBFIA), plant protein isolates and concentrates represent an opportunity for Indian farmers to increase their income through the export of their products.
A recent event held at the Indian Institute of Technology in Delhi had a panel discussion on the topic of ‘Plant-based Foods Ecosystem,’ and he was one of the speakers. The PBFIA participated in the planning of the event as a co-organizer.
According to Sethi, young businesspeople are very interested in promoting alternative protein goods such as tempeh, hemp-protein, oats-based products, and others like these.
‘Our healthcare specialists and nutritionists have started identifying food as a medicine,’ he said, referring to the fact that Indian farmers have the opportunity to enhance their income by exporting plant protein isolates and concentrates.
According to a statement released by the PBFIA, the present value of the plant-based foods market in India, which is ₹2,000 crore, is projected to increase to ₹40,000 crores over the course of the following decade. Products like dairy alternatives, nuggets, cheese, and others such as keema, burger patties, egg alternatives, and kebabs have been introduced into the plant-based food sector by companies such as Tata and ITC.
These companies have inflected the industry with their products. It was stated that India might leverage its native crops of legumes, millets, and grains to help feed the globe if it developed further projects similar to the plant protein cluster developed by the PBFIA.
In addition, it stated that the purpose of the PBFIA would be to offer support in the areas of policy advocacy, innovation, investment, and supply chain management, as well as to determine what needs to be done for the plant-based foods industry and find the most effective ways to accomplish those goals.