Friday, 18 January 2019

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NFS India Inside Magazine

NFS India Inside Magazine

F&B bets on Industry 4.0

The diversity in Indian culture and changing needs of customers create further complexity in the food production and distribution system in the country. A number of changes are shaping the Indian food landscape with disruptions in business models of companies, in terms of their interaction with consumers and responsiveness to their needs. While packaged food is the fastest growing segment posting a double digit growth year on year, currently only ~10 per cent of agri-produce is being processed in India. Government of India’s drive to augment processing levels through Make in India campaign; and Industry 4.0 playing a major role in elevating the manufacturing as well as supply chain landscape by usage of technologies including Internet of Things (IoT), Blockchain, Predictive Analytics, the food industry in India is expected to witness a radical shift. The complete ecosystem is expected to evolve from being a linear model to a more complex dynamic chain with multiple inter-linkages enabled by technology interventions. Indus.try 4.0 offers the opportunity to be prepared and also to benefit from the changing consumer behaviour while helping overcome the resource limitations from the supply side. However a sustainable partnership model is essential between government, private firms and industry bodies for promoting Industry 4.0

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