Buoyant on beverages sector growth, commissions a study on the impact of the beverage industry on the Indian economy by ICRIER

New Delhi, September 21st, 2012: The Indian Beverage Association (IBA) held its 2nd Annual General Meeting today, with participation from key industry players such as Coca-Cola India, PepsiCo India, Dabur, Red Bull India, FieldFresh Foods (Del Monte), Danone Narang, Reliance Industries and Lanxess India  amongst others.  

Reiterating the importance of food safety, a seminar was organized on ‘Food Safety Regime in India: Role of Stakeholders’. Shri K. Chandramouli, Chairperson, Food Safety & Standards Authority of India(FSSAI) delivered keynote address and eminent dignitaries such as Shri S. Dave, Advisor, FSSAI and Chair, Codex Alimentarius Commission, Dr. R.K. Bajaj, Scientist F & Head (F&A), Bureau of Indian Standards(BIS) and Dr. Smita Lele, Professor of Biochemical Engineering & Controller of Examination, Institute of Chemical Technology also addressed the gathering. The seminar focused on the issue of food safety in the country, vis-à-vis standardization, regulations and the role of stakeholders in the overall process.

The non-alcoholic beverage market in India is witnessing tremendous growth, driven by a combination of factors such as increased investments and innovations. The IBA aims to act as a catalyst to enable the non-alcoholic beverage industry to play an increasingly significant role in the growth of the economy, by providing employment opportunities and driving income growth.

Mr S R Goenka, President, Indian Beverage Association said, “The non-alcoholic beverage industry is one of the largest investors in the country and has contributed significantly to the growth of allied industries. In order to better understand the impact of the industry on the Indian economy, we have commissioned a study by ICRIER.”

He further added, “As safety is critical to the growth of the beverage industry, we have brought key stakeholders on a common platform to address the issues of safety, standards and quality and discuss potential solutions to promote growth in the sector.”

Industry players also felt that R&D prowess will be the ‘unlock’ to move beyond global brands and develop local, indigenous products to suit regional palates, thereby driving further growth in the market. These innovations are meant to address the low per-capita consumption of packaged beverages and will create both direct and indirect impact.