The First Plant-Based Foods Summit Paints A Promising Future For The Plant-Based Sector In India

28th May 2022

The first Plant Based Foods Summit was organised in New Delhi on the 26^th of May 2022.

Presented by Ministry of Food Processing Industries Government of India (MOFPI), Agricultural and Processed Food Products Export Development Authority (APEDA), the summit was organised by the Plant Based Foods Industry Association (PBFIA) with Good Food Institute India (GFI India) as organising partner.

Prahlad Singh Patel, Minister of State for Food Processing Industries and Jal Shakti was the chief guest of the evening who inaugurated the event and stated that “It is extremely significant that MoFPI, APEDA, and PBFIA have come together to organize India's 1st Plant Based Foods Summit. We have to work towards preserving our planet for future generations and the way forward is to grow in a sustainable manner. India has tremendous potential to lead the way forward.”

The Honourable Minister also added, “Everyone is free to make their own choices when it comes to food, that is ultimately the law of the land. We cannot force people to give up on things, rather the industry can work together to provide plant-based alternatives without compromising on taste. I extend my full support to push for the growth of this sector. The government bodies will need to work towards minimizing compliance and we will need more scientific development and advancing our supply chain for the industry to prosper.”

Minister of State for Food Processing Industries, Prahlad Singh Patel

Dr. Sudhanshu, Secretary APEDA, Inoshi Sharma, Executive Director of Regulatory Compliance - FSSAI, Rachel Dreskin, Chief Executive Officer - Plant Based Foods Association, USA, Abhinav Singh, head Food Processing & CIFTI –FICCI, Abhishek Sinha, Co-founder and Chief Executive Officer GoodDot, and Ashu Phakey, head (Frozen and Fresh Foods) at ITC released the position paper "The Dawn of a Plant-Based Age - India to lead the way to world food security and nutrition"

Sanjay Sethi, Executive Director, PBFIA briefly presented the paper and said, “India has the capacity to solve not only the protein requirements of the country but also the world by using indigenous ingredients.”

Dr Sudhanshu said, “We are aware that the plant-based food industry is achieving tremendous growth. As a country, we are blessed to have the agrarian and manpower capacity which can help with raw materials for this industry. And this is our strength. India has established a footprint in the global market. There is enormous potential for investment opportunities. The industry has to educate the consumer about the benefits and create awareness as the choice of the consumer drives the market.”

Inoshi Sharma Executive Director of Regulatory Compliance at FSSAI, in her talk, spoke about how the FSSAI is adapting to the growth of the vegan and plant-based sector in the interest of the companies and consumers. “We at FSSAI are recognising that people are demanding for this new and upcoming sector.” She also discussed various strategies that manufacturing companies need to keep in mind to be compliant with all the standards set forth by the FSSAI.

Rachael Dreskin, CEO of PBFA USA, shared her learnings from the global plant-based scenario with the stakeholders present at the event. She added, “In the US just out of grocery stores and retail outlets sales of plant-based alternatives has gone from $4.8 billion in 2018 to $7.4 billion across various categories like creamers, condiments, yogurt, bars, plant-based eggs, burgers and milk. I believe India will surpass this growth and I look forward to partnering with everyone here to make that happen.”

Abhinav Singh, head Food Processing & CIFTI –FICCI said, “Going by the current trends, we are expecting that by 2026 the Indian food market to touch $535 million. This is a huge number, and the plant-based sector can contribute to this growth.” He also added that there is huge scope for the food processing sector to add to the exports of the country.

Abhishek Sinha, Co-founder and Chief Executive Officer GoodDot added, “Most countries have a long term plan for the growth of this sector. Leaders from various industries and the large FMCGs themselves are now part of the plant-based industry through their investments and products.

He added that India already produces the raw materials required by the industry and with the help of the government, the sector, the farmers and start-ups will see further growth.

Ashu Phakey, head (Frozen and Fresh Foods) at ITC elaborated at the challenges the plant-based frozen food industry can learn and grow from in India.

The event also held tastings of over 30 different brands of plant-based alternative foods which was well appreciated by everyone present. The Hon’ble MoS was also presented the various brands of Indian plant-based alternatives.

The summit also held a panel on ‘The opportunities and innovations driving the plant-based industry’ moderated by V.K Vidyarthi, GM APEDA. The participants of the panel included Sonal, founder & CEO Whitecub, Nicole Rocque, Senior Innovation Specialist GFI,  Sunil Marwah, CEO FICSI, Ashu Phakey, Head Frozen and Fresh Foods ITC, Pranav Rajkumar Investment Team at Ahimsa VC, Rohit Salgaonkar, Application Scientist Roquette, Palak Mehta CEO & Founder Vegan First and Ritoja Basu, Deputy Director (Food and Agriculture) CII.

Varun Deshpande, Managing Director, Good Food Institute India, organising partner of the summit said, "The plant-based foods and smart protein ecosystem continues to grow from strength to strength after years of foundational work across industry, science, and policy. We are delighted to see the ecosystem's coming together at the Plant Based Foods Summit, and the continued support of the Ministry of Food Processing Industries towards its growth. The scale of the event is a mark of the progress we've collectively made - as we celebrate this progress, we remain cognizant that there is plenty of work still to do."

Palak Mehta, Founder & CEO of Vegan First said, "It is a very exciting time to be in the plant-based food space right now. When we started Vegan First in 2015, the industry was very nascent. We have seen it grow over these years and with our events like the Vegan India Conference we have been able to gauge the capacity and potential the industry can reach."

The summit presented the opportunity for the industry stakeholders to network and discuss the opportunities of the plant-based food sector. It was supported in great measure by the government bodies.

Sanjay Sethi, Executive Director of PBFIA said, "We appreciate the guidance and support from Shri Prahlad Singh Patel, and look forward to the opportunity to lead this critical task force to advance the role plant-based foods can play in India and on a global scale. We are extremely overwhelmed with the tremendous response and success of India's first plant-based food summit organized by PBFIA along with MoFPI, APEDA and GFI. Everyone wants to invest into our plant-based food business in India because they see how quickly it is growing in importance and value in the national and worldwide markets. In the sector, there is a link amongst sustainability, nation, health, humanity, and animal welfare."

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