(MENAFNEditorial) The Cold Chain Industry is developing at a faster pace in India due to shift in focus from increasing the production to better storage and transportation facility of the commodity. The industry has now become an integral part of the supply chain industry comprising of refrigerated storage and refrigerated transportation. The cold storage infrastructure has the ability to maintain the shelf life of perishable goods by maintaining proper temperature of the products from the farm gate to the end-consumer.
According to our latest research report, Indian Cold Chain Industry Outlook 2022, the industry has been growing significantly owing to the increasing government initiatives, rising need for the cold chain facilities, increasing private sector investments of both domestic and foreign players, etc. Owing to the rising need of the infrastructure to reduce wastage, the cold chain industry in India is forecasted to grow at a CAGR of 19% during the period of 2017-2022.
Owing to the importance of the cold chain industry, there has been an increase in the number of government initiatives which have boosted the expansion of the same in the country. 100% FDI in the cold chain industry along with its initiative has encouraged the infrastructural development.
The huge post harvest loss and wastage of the perishable products are the key factors that resulted in governmental intervention. Also, other initiatives by government such as reduction of excise duty from 12.5% to 6%, and Basic Customs Duty (BCD) from 10% to 5% on refrigerated containers, setting up new mega food parks etc. would further drive the cold chain industry in the future.
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