New Delhi, Nov 10: India’s top food importer has been slow to launch its own e-commerce and online grocery business, leaving it with limited choice of retailers and distributors.
The National Food Corporation (NFCC) and Food Safety and Standards Authority of India (FSSAI) have been busy in the last few months on a slew of initiatives aimed at getting food to consumers faster, and the NFFC is trying to tackle these challenges head-on.
“Food processing and retailing are two areas where we are seeing a lot of growth.
The government is pushing the industry and the government has been pushing the banks,” said N. Sudhakar, CEO of food retailing and wholesale services firm CNC Food.CNC is the parent company of the popular grocery chain Bajaj.
It has been building its own food processing and food logistics infrastructure for the last five years and has been expanding its reach.
In a recent move, it bought a logistics logistics company and moved into the food processing space, said Sudhakars CEO, Ramanathan Anandan.
“We are building the infrastructure and we are doing this from the ground up.
We are going to be the leader in the sector in the near future,” he said.
A major part of this is the use of blockchain technology, which will enable banks and other financial institutions to track the transactions of individual food importers and distributors through the blockchain.
The NFFCC and FSSAI are also looking at a few other ways of increasing the ease of commerce, including digital payments.
“There are a lot more payments that can be made with digital payments than there are with physical transactions,” Sudhak said.
“I would say that in the coming months, we are going take a very hard look at making it easier for the consumers to transact.
There are many things we are working on that are going in the direction of making this easier.”
The government has set a target of getting more than 60 per cent of the country’s households online by the end of the year, which would mean that by 2020, more than 80 per cent will be online, according to an estimate by the National Sample Survey Organisation (NSSO).