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IBA to organise National Beverage Conclave 2023 in New Delhi today
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Thursday, 06 July, 2023, 08 : 00 AM [IST]
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Ashwani Maindola, New Delhi
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The Indian Beverage Association (IBA) is organising the National Beverage Conclave 2023, in New Delhi on July 6 and will focus on the theme of "Sustainable Food Systems: Redefining the Beverage Industry."
According to IBA, the conclave aims to showcase and reinforce the non-alcoholic beverages industry as a driver of job creation, export-oriented supply chains, and investments in food processing aligned with national priorities.
“To support India’s ambition to move from food security to nutrition security, the conclave will highlight the industry's potential in environmental sustainability (water conservation, plastic reduction), economic and fiscal sustainability (investment and incentives), and social sustainability (healthier diets, improved welfare),” reads the statement by the IBA.
The event is expected to bring together key stakeholders including policy makers, regulatory bodies, food scientists, Indian and international organisations such as the WHO, ICMR-NIN, industry, startups, thinktanks as well as influencers and key opinion leaders.
IBA remarked that with a market value of approximately Rs 58,000 crore in 2022, according to the Indian Council for Research on International Economics Research’s (ICRIER) 2022 study on the ‘Contribution of Non-alcoholic Beverage Sector to Indian Economic Growth’, the non-alcoholic beverages industry has experienced remarkable average growth rate of approximately 20% over the previous decade.
Meanwhile, experts feel that despite this impressive growth, the sector faces challenges including high GST and rates not aligned with FSSAI Regulations, unfair competition from the informal sector, counterfeit products, negative public perceptions, value/supply chain constraints, and the unavailability of quality local raw materials.
JP Meena, secretary-general, IBA, commented, "A multi-stakeholder engagement and public-private partnership are important to address many of these local challenges. IBA is committed to driving a sustainable food system and having a meaningful impact on the economic progress of the country while also addressing many of the social, economic and environmental challenges."
The conclave will also lay the future roadmap for making India a global beverage processing hub by 2030. It will explore best practices, provide recommendations for government policies, and focus on creating an ecosystem that supports export-oriented growth, innovation, and international collaboration. The idea is to shape the future of the non-alcoholic beverage industry and contribute to India's journey towards a 5 trillion-dollar economy.
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