With the commencement of Unlock 4.0, the government is all set with new rules, regulations and guidelines in place while easing few of the hard and fast conditions that were prevailing since the month of March, in view of the spread of COVID-19.
These new laws will probably bolster the economy by assisting some of the worst affected sectors such as the food processing industry.
- Food delivery platforms witnessed an increase in sales of fresh produce as well as food ordered from restaurant chains while the restaurants were shut because of the global epidemic.
Also, ready-to-cook and ready-to-eat packaged foods were highly in demand for the sake of convenience.
Chairman and MD of Suman Food Consultants, Sagar Kurade informed- “Despite the increased demand for packaged food products, the industry is still off from its pre-COVID peak. Interest of entry within food sector is also seen both within startups as well as from companies who want to expand.”
‘Mission Begin Again’ scheme will find a lot more movement and alterations in the food processing segment. Industry leaders are anticipating lucidity regarding payment of taxes and corresponding fees.
Kurade further said- “Industry does anticipate any extra relief package in relation to GST classification as well as financial package. Suggestions regarding the same have been made to Government of India through various industry associations.”
This new normal era will motivate big, medium and small units in the food processing sector to re-establish themselves in so as to gain things up and running, not only for their own businesses but also for the nation’s economy to a great extent.
Akshay Bector, Chairman and MD of Cremica Food Industries Ltd. declared- “If you observe that what’s going on in the food processing industry, the restaurant business has undoubtedly been affected in the field of sales, and business gains has also become compromised. Through the last few phases of unlocks, we are witnessing significant amount of profit. We hope to see 70-80 % recovery to be achieved during the Unlock 4.0. Hopefully if things remain the same in the coming two quarters, we expect sales to get normal. The government is taking appropriate steps, let’s hope that the COVID cases get controlled such that it doesn’t lead to another lockdown.”
Ashwin Bhadri, CEO of Equinox Labs “The new notifications regarding the guidelines and standards coming with the Unlock 4.0 will motivate the food processing sector to adopt, acknowledge and execute numerous new innovations. Consumer choices are continuously changing at a great pace and it can be said that almost all of them at some point in the post-lockdown period would turn towards a product releases as a result of innovation.”
