28-06-2012, 12:26 PM
A STUDY ON “READY TO EAT” FOOD INDUSTRY AND COMPARATIVE ANALYSIS OF READY TO EAT FOOD PRODUCTS OF ITC LTD.
A STUDY ON “READY TO EAT” FOOD INDUSTRY A.doc (Size: 446 KB / Downloads: 88)
Introduction
NEW ERA OF INDIAN READY TO EAT FOOD
BRIEF
India has made lot of progress in agriculture & food sectors since independence in terms of growth in output, yields and processing. It has gone through a green revolution, a white revolution, a yellow revolution and a blue revolution. Today, India is the largest producer of milk, fruits, cashew nuts, coconuts and tea in the world, the second largest producer of wheat, vegetables, sugar and fish and the third largest producer of tobacco and rice.
Now the time is to provide better food processing & its marketing infrastructure for Indian industries to serve good quality & safest processed food like ready to eat food. It is opening a new window in world scenario as far as taste & acceptance is concerned. Therefore, Indian Government is providing more infrastructure for this sector. Excise duty is now ZERO % on RTE and 100 % tax deduction for the first 10 years for new units. This allows manufactures to bring down their prices & spreads its flavors to the world.
WHY READY TO EAT FOOD
• „ Globalization of Indian food and its culture are the core factors for popularization of ready to eat foods.
• „ Main motivation for these ready to eat foods is fast growing foreign market.
• „ Retail outlet culture is now growing rapidly in India.
• „ Shelf life of these foods are at least 12-18 months.
• „ Quality, Taste and Flavor of these foods remains as good as fresh up to the expiry date.
• „ Women wanting to spend more time out of the kitchen.
• „ More working bachelors staying away from homes.
• „ Cost effective in comparison to the Indian cuisine served by the restaurants in foreign countries.
ITC FOOD LTD.
ITC made its entry into the branded & packaged Foods business in August 2001 with the launch of the Kitchens of India brand. A more broad-based entry has been made since June 2002 with brand launches in the Confectionery, Staples and Snack Foods segments.
The packaged foods business is an ideal avenue to leverage ITC's proven strengths in the areas of hospitality and branded cuisine, contemporary packaging and sourcing of agricultural commodities. ITC's world famous restaurants like the Bukhara and the Dum Pukht, nurtured by the Company's Hotels business, demonstrate that ITC has a deep understanding of the Indian palate and the expertise required to translate this knowledge into delightful dining experiences for the consumer. ITC has stood for quality products for over 100 years to the Indian consumer and several of its brands are today internationally benchmarked for quality.