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The size of the Indian dairy market is estimated to jump over two fold to Rs 30 lakh crore by 2027, driven by growth in both volume and value terms, NDDB Chairman Meenesh Shah said on Tuesday.
He also asserted that the government is not "insensitive" and it will protect the interest of 8 crore dairy farmers while signing free trade agreements (FTAs) with other countries.
Shah said the size of Indian dairy market stood at Rs 13 trillion in 2021 and it is expected to reach Rs 30 trillion by 2027.
The growth would come from increase in production of milk and other dairy products as well as value appreciation, he added.
Shah, the chairman of National Dairy Development Board (NDDB), was addressing a press conference at the International Dairy Federation World Dairy Summit (IDF WDS) 2022, being organised at the India Expo Centre and Mart here during September 12-15.
When asked about the impact on dairy sector from proposed FTAs with many countries including the UK, Shah said about 8 crore farmers derive income from the dairy sector.
The government is not "insensitive" and will not take any decision that will be detrimental to Indian dairy farmers, he added.
Asked about the impact of Lumpy Skin Disease (LSD) that has spread in at least 10 states/Union Territories, Shah said the goat pox vaccine is absolutely effective that has helped in controlling the disease in Gujarat.
R S Sodhi, managing director of Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets dairy products under the Amul brand, had on Monday said India's milk production is expected to jump three-fold to 628 million tonnes in the next 25 years.
The country's milk production was 210 million tonnes in 2021.
"Milk production in India is projected to grow at a CAGR of 4.5 per cent to reach 628 million tonnes in next 25 years," he had said.
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 for milk is projected to rise to 517 million tonnes in the next 25 years, leaving an export surplus of 111 million tonnes, Sodhi had said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Tue, September 13 2022. 21:38 IST