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Food processing grew at 20 per cent per annum: Industry expert

HYDERABAD: Investments in the Indian food processing sector grew at 20 per cent per annum in five years and total investment at present is estimated at Rs 150,000 crore, employing over 100 lakh, ITC Agri and IT Business Group Head S Sivakumar said today. 

Addressing reporters here on Food 360, the forthcoming international conference-cum-exhibition on agribusiness and food processing, he said the country's agricultural and processed foods exports have registered an annual rate of 20 per cent and now account for 12 per cent of total exports. 

The third 
edition of the conference will lay emphasis on the next wave of opportunities in agribusiness and food processing. 

The conference, which will be held in November 2013, coincides with the World Agriculture Forum's biennial global congress and agricultural tech trade fair being organised in Hyderabad. 

The food processing sector has been growing at a much higher rate of 13 per cent per annum in comparison with the industrial growth rate of seven per cent.