MARCH 20209The entry of multinational companies and their expansion in the market has made India a production hub for processed foodstheir partnerships with the restaurants and food out-lets across the country.The entry of multinational companies and their expansion in the market has made India a production hub for processed foods; that is increasingly consumed and exported around the globe. With the main purpose for the development ofa new product in improving the health, convenience, and sustainability, the food eco-system of India offers huge opportunities for invest-ments with stimulating growth, favourable economic policies and attractive fiscal incentives. Moreover, the new foods, based on fruit and vegetables, are fulfilling the demand of consumer and are highly sought in the global marketplace. Accomplishing the vigorous demand, India offers the largest diversified production base in the food sec-tor. The bold reforms and progressive measures by the government involving the introduction of Goods and Services Tax (GST), has replaced the Foreign Invest-ment Promotion Board with the online Foreign Invest-ment Facilitation Portal. It has obtained 100 per cent FDI for retail trading in the food processing sector for food products which are manufactured or processed within India; increasing investment in infrastructure projects, Food Safety and Standards Authority of India (FSSAI) aligning with Codex Alimentarius (food code) international food standards. Further, this is reflect-ing a positive outlook and buoyant development in the food sector. As one of the fastest-growing economies in the world, the Indian food and beverage industry stand in the ten high-growth segments, recording a steady growth in the food sector.Another segment which is growing very high in In-dia's f & B market is the vegan or plant-based food in-dustry. It is seen that many solopreneur and startups have entered into veganism, knowing that the Indian market is too fresh for this concept. At the same time, western markets are making huge profits today. How-ever, India has already set her foot in the world of veg-anism, and many people have wholeheartedly accepted the plant-based food industry.The rising awareness towards environmental degradation has caught the interest of many entre-preneurs who are seeking new opportunity to bring change, with an environment-friendly approach in the business to bring its true sense. In fact, the increas-ing animal-friendly culture among the highly educated youth of the country is switching many to veganism from the conventional lifestyle. The plant-based prod-ucts are hitting the shelves of all the leading food re-tail brands in malls and supermarkets. Whether it is about producing a vegan platter or serving raw fruits and vegetables in a restaurant, the food market is cele-brating an all-new concept in the highly evolving food market of India. Today, millennials are bending towards vegan food with full passion. They are taking rigorous steps to promote a culture, which is actually the need of the time. Various large-scale events such as the 18-day Ahimsa Festival in Mumbai and vegan master chef challenge and FIAPO's boot camps are the testimonies of their obsession for making people aware of the ben-efits of vegan food and lifestyle. Besides,celebrities like Sonam Kapoor, Kiran Rao, Neha Dhupia, Richa Chadha, and Kangana Ranaut are an inspiration to thousands of people. Surrchi Joshhi
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