Cold chain industry in India – Present status and future prospects
India’s cold chain sector is a combination of surface storage and refrigerated transport. The industry has been growing at a CAGR of 20% for the last three years. The cold chain market in India is anticipated to reach Rs 624 billion (US$13 billion) by 2017, according to 2014 estimates. Cold stores are the major revenue contributors of the Indian cold chain industry.
India is one of the largest producers of agricultural products and one of the global leaders in the pharmaceutical sector. Yet, it is known to have a fledgling cold chain, which results in supply chain losses of food and other resources. These losses have been stated to be as high as US$8 to 15 billion per annum from the agriculture sector alone. To address this concern, the government had earlier constituted a National Task Force on Cold Chain in 2008.
Source: FNB News