According to a recent market research report from IGD, India which is currently the 7th largest grocery market in the world is set to overtake its European counterparts by 2010 to become the world's 4th largest grocery market. The current market size for grocery is US$203 billion. By 2010 IGD forecasts it will reach US$302 billion.
International food retail giants Tesco, Walmart and Carrefour are said to be eyeing the market. This follows the Indian government's recent announcement of plans to open up the retail sector to foreign investment. Indian giant Reliance also announced its plans to enter the sector. Food imports are set to boom over the next few years in light of these market conditions.
IFE India will bring the main players in food retailing, importers and distributors together on the last day of the show for a "Retail Forum". The forum will explore the sector's future with a particular focus on the products at the show and their marketability in the Indian scenario.
In light of these market conditions, government food export promotion bodies from around the world are encouraging their members to enter the Indian market. There has also been an emphasis for UK companies to realise this full potential in the Indian market. Karan Bilimoria , Chief Executive of Cobra Beer and Indo British Partnership chairman, has remarked that "The world is waking up to India's potential and UK businesses must recognise opportunities on offer there". "We could and should be doing far more," said Bilimoria. "We at IBPN want to reach out to UK businesses to make it aware of the opportunities in India and provide whatever help we can. When you go to India you cannot miss the buzz and business confidence that the country is going places."
Taking this lead on board, the UKTI has also confirmed for IFE India this year, and Montgomery International is very excited about the prospect for UK companies. IFE India this year has seen a massive increase in interest for the show which reflects the awareness in this booming market.
For further information regarding participation as an exhibitor or as a visitor at IFE India contact Mel Shah at Montgomery International Ltd on +44 (0)20 7886 3102 or mel.shah@montex.co.uk Alternatively visit our website: www.ife-india.com.
Notes for Editor
IFE Exhibitions:
Launched by Montgomery Exhibitions in 1979 and held in London every two years, IFE UK is a leading international food and drink exhibition. This flagship event is organised by sector specialist, FreshRM, a Montgomery – Reed Exhibitions joint-venture Company. Three successful IFE exhibitions held outside the UK have been developed in recent years, and are organised by Fresh RM's sister company, Montgomery International, who work closely with local partners to serve their regional food, drink and hospitality industries. Countries currently covered are Poland, Hungary and India.
Company:
Montgomery International Ltd is an Andry Montgomery company, established in 2000.
Montgomery International organise IFE Poland, IFE India, IFE Hungary and exhibitions in other industry sectors including the Russian International Wine Fair, Interbuild India and Flooring Russia.
Other Montgomery companies organise the UK's biggest and most respected food, drink and hospitality events, including IFE (London), Hotelympia, Hospitality Week, ScotHot, and IFEX Ireland as well as a multitude of regional, national and international sector events. Please visit www.montex.co.uk for more information and for links to particular show websites.
NB. – Images of the show are available upon request – catharine.mackay@montex.co.uk |
