NDDB Chairman Shri Meenesh Shah has projected India’s dairy business to grow sharply by two and a half times to Rs 30 trillion (Rs. 30 lakh crores) as the Union government promised to further boost the dairy cooperative sector for India’s forward march into the league of leading global economies.
NDDB Chairman Meenesh Shah said, “The current value of the Indian dairy business is close to Rs 13 trillion. We expect this to more than double in the next five years and reach close to Rs 30 trillion by 2027.”
Amul’s Managing Director Shri R S Sodhi also projected the Indian dairy sector making massive gains at the global level in the coming decades. “Currently, we are producing 23 percent of the total global production. By 2045, this may well shoot up to 47 percent,” he said.
“Milk production in India is projected to grow at a CAGR of 4.5 per cent to reach 628 million tonnes in the next 25 years,” he said while giving a presentation on the outlook of the Indian dairy sector over the next 25 years at International Dairy Federation World Dairy Summit (IDF WDS) 2022.
India’s share in global production is estimated to nearly double to 45 per cent in the next 25 years from 23 per cent now. The demand is also set to increase because of the rising population, Sodhi said.
Sodhi highlighted that India’s dairy sector has the most efficient supply chain in the world. The packaging and transportation costs for supplying milk to consumers are very less compared to the global average.
“We all know how dairy cooperatives have played a crucial role in the emergence of India as the global dairy powerhouse. The government is committed to give further boost to dairy cooperatives in association with National Dairy Development Board (NDDB) as the country is bound to make further gains in dairy output,” Rupala said.
The event was attended by an impressive gathering of delegates from around 50 countries and senior office bearers of leading global agencies like IDF, FAO, European Commission, etc.
Meanwhile, the inaugural day of the event also saw participation by some of the leading global dairy experts who emphasized new challenges that have surfaced post-Corona. “Two key challenges that have surfaced in the recent years for the global dairy industry relate to emergence of bovine disease in some countries affecting their cattle force and inflationary pressures that have also gripped dairy business”, Mr. Janusz Wojciechowski, EU Commissioner for Agriculture, commented.
The Summit, which is being held 48 years after India hosted the International Dairy Congress in 1974, was inaugurated by Hon’ble Prime Minister Shri Narendra Modi.