Red alert to food tech space: Devaluation of Zomato
Devaluation of food services portal Zomato has given a set back to the food technology industry. However industry supported to the company. As per the experts the markdown is not earth shattering and even before Zomato markdown the industry was struggling for the funding and never impressed the investors. Food technology industry has already seen challenges like lack of new funding, collaborations etc.
India’s processed food was compromised?
Indian processes industry grows 12% in a year different companies come up with new products and new flavors almost every now and then. As per the data 2012 to 2015 industry has been introduced almost 4500 new products with completely new formulations. In spite of this super growth there is big loop hole in safety of many processed food products Indian are eating. There is no proper system or parameters or scientific assessment to check the food quality.
ASEAN nations specially India to dominate the world food market
As per Union minister Harsimrat Kaur Badal India and other ASEAN nations have the potential to dominate the world food market specially in processing sector. These 10 nations can share experience and technology to rule the industry and can benefit each other.