A high profile Indian delegation of 12 professionals from the food and beverages industry visited Spain to explore import opportunities for the Indian market.
The Indian delegation included the well-known Chef Saby of the Olive Bar & Kitchen Restaurant, nine importers and distributors of food and beverages, and two buyers of Indian retail chains HyperCity and SPAR. Each of the Indian importers had at least 15 meetings with differing Spanish companies from the food and beverages sector. The delegates also visited some of the leading manufacturing sites in Spain.
The Indian food and beverages sector is valued at an estimated 134 billion Euros, with an annual growth rate of 14 percent, and covering a large Indian middle class of 400 million consumers. The market for imported food products in India currently stands at about 50 million Euros.
The Spanish food and beverage industry exports to India in 13 food categories, out of which olives and olive oil are the most successful exports. The Spanish food industry has placed a strong bet on India among the emerging markets. An example of Spain’s focus on the Indian market is its “Indian Plan 2010-2012.” This ambitious plan promotes Spanish food and beverages in India, involving MARM, ICEX, FIAB and regional promotional agencies of 11 autonomous regions.