ENA Economy 2022-12-08 09:52:11 <p><span style="font-size:14px"><strong>Mumbai, Dec 8 (KNN)</strong> During the first day of India Food Forum on Wednesday it was discussed that India's objective of USD 5 trillion economy will remain unaccomplished if the 90% unorganised retail food business is not transformed into the formal segment.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">Vivek Gupta, co-founder of Udaan - a B2B e-commerce app said, Hurdles faced by those in the unorganised sector are about adding value, ensuring product accessibility and churning funds quickly.</span></p> <p><span style="font-size:14px">Citing a case study of an entrepreneur with 3 rice mills, Gupta lamented that there has been no efforts to brand and reach out with value addition like poha or rice flakes.</span></p> <p><span style="font-size:14px">However, this comes even as India's agriculture exports doubled to USD 60 billion in 2022 from USD 30 billion in 2018, said Satish Thaker, Director - Brand Engagement, Elasticrun - a B2B rural Indian platform.</span></p> <p><span style="font-size:14px">The value conscious new age retail Indian consumer does not believe easily unless he checks technology to validate it, Thaker said.</span></p> <p><span style="font-size:14px">Post-pandemic, the India Food Forum in its 15th edition received overwhelming response with several food products being launched along with active participation from retailers and food brands. <em><strong>(KNN Bureau)</strong></em></span></p> 31486 https://knnindia.co.in/news/newsdetails/economy/formalisation-of-retail-food-business-crucial-to-help-india-achieve-5-trn-economy 2022-12-08 09:52:11 knnindia.co.in