Mark Zuckerberg’s aggressive push to hire top AI talent is expected to drive up global salaries, but India’s cost advantage makes it an attractive destination for AI jobs—particularly in engineering and mid-level roles. Indian AI professionals are significantly more affordable compared to their U.S. counterparts. However, to move up the value chain, experts stress the need to strengthen India’s high-end AI research capabilities. The AI market is witnessing a surge in competition, with global tech giants fiercely competing to attract top talent in their quest to build the next wave of super intelligent technologies. Mark Zuckerberg is taking a hands-on role in leading Meta’s aggressive push to recruit top AI talent, targeting key individuals from AI-focused startups like Safe Superintelligence (SSI), founded by OpenAI co-founder Ilya Sutskever. As part of this effort, Meta has hired Wang and several employees from Scale AI, and is expected to bring SSI co-founder and CEO Daniel Gross into its newly formed AI division. Former GitHub CEO Nat Friedman will join Wang in co-leading Meta’s Superintelligence Labs, which will focus on applied research and AI product development. Sources say Zuckerberg has already secured 11 hires from OpenAI, Anthropic, and Google. As Meta’s Mark Zuckerberg reportedly offers US$ 100 million compensation packages to secure top-tier AI talent, industry experts anticipate a ripple effect across major tech companies, potentially pushing up the global cost of AI expertise. Amidst this surge in demand and salaries, India retains a significant edge due to its large, skilled, and cost-effective talent pool, making it an increasingly attractive destination for AI-related roles. According to AMS data, Indian AI professionals cost just 15–25% of what similar roles demand in global tech hubs like the US, particularly at the senior and research levels. Teamlease Digital highlights that salaries in the US and Europe can be nearly five times higher than in India for equivalent skill sets. Even for mid-level roles such as machine learning engineers and data scientists with some experience, the pay gap is two to three times. This stark cost difference is prompting companies to shift more AI jobs to India. An industry expert noted that India is especially well positioned to handle engineering, implementation, and mid-tier research roles, thanks to its favourable cost-quality ratio. The country’s strength lies in scaled AI development, ML operations, and data engineering. While top researchers in the US can earn between US$500,000 and US$1 million or more, their Indian counterparts typically earn around ₹60–80 lakh (US$ 72.3K- US$ 96.4K; approximate exchange rate of ₹83 = $1) annually, according to Adecco. Meta’s high-end offers are resetting global benchmarks, but India’s dual advantage of affordability and a growing talent base makes it an ideal location for scaling AI teams. The country’s AI workforce is expanding steadily, especially in applied AI and systems engineering. However, experts caution that India still trails in high-end AI research and development—an area where deep expertise, not cost, dictates value. Currently, most AI-related roles being offshored to India involve data modeling, annotation, and AI/ML system integration. To climb higher up the value chain and move into core innovation roles, experts stress the need for strategic investment in research, education, and continuous skill development. A robust upskilling ecosystem will be crucial to prepare Indian professionals for next-generation AI challenges. While global firms may prioritize cost efficiency for implementation roles, they are willing to pay top dollar for ground breaking innovation—wherever the talent resides. This means the world’s most elite AI researchers will likely remain concentrated in advanced ecosystems like the US, at least until India’s start-up and research infrastructure matures further. Nevertheless, signs of progress are already visible. Indian-origin researchers are leading global AI labs and contributing to cutting-edge advancements. With sustained investment through government initiatives such as the IndiaAI Mission, and a rapidly evolving start-up ecosystem, India is gearing up to narrow the gap and emerge as a serious contender in the global AI landscape. Conclusion India is at a critical juncture in the global AI race. Though it continues to attract AI implementation and engineering roles due to its cost efficiency and skilled workforce, true leadership will depend on strengthening advanced research capabilities. By prioritizing investment in education, research infrastructure, and initiatives like the IndiaAI Mission, the country has the potential to evolve from a support hub into a global driver of AI innovation and frontier technologies.
“Our tech gives vendors real-time insights to cut waste and prep smarter”
In a rapidly evolving food-tech landscape, HungerBox has emerged as a pioneer in transforming the institutional food services market in India. Co-founded by Sandipan Mitra in 2016, the company digitised the once archaic cafeteria experience using IoT, AI, and data-driven innovation. Under Sandipan’s leadership, HungerBox has grown from a disruptive idea into a robust B2B2C platform serving millions of transactions daily across corporate campuses. In this conversation, Sandipan shares the journey of building HungerBox—from identifying the market gap to overcoming operational challenges—and offers insights into how technology, sustainability, and personalization are shaping the future of workplace food services. IBT: What was the core problem or gap in the institutional food services market that led to the inception of HungerBox, and how did you validate the business model in its early stages? Sandipan Mitra: When we started HungerBox in 2016, the institutional food services market, especially corporate cafeterias, was ripe for disruption. Despite being a critical service for employees who often consumed at least two meals a day at work, the operations were largely inefficient and, frankly, quite archaic. Employees faced long queues, while corporations fell prey to poor cafeteria management that lacked transparency, leading to pilferage and food waste. The B2B institutional sector desperately needed a digital platform to connect vendors, corporates, and employees. We saw this as an untapped opportunity for a tech-led solution. To validate our model, we launched India’s first 100% digitised cafeteria. We focused on strong unit economics from day one. We convinced corporate CXOs by demonstrating clear ROI: cost savings, improved employee satisfaction, and valuable data insights. Early adoption, high transaction volumes, and securing long-term contracts quickly validated our approach, further affirmed by strategic investments from partners like Paytm and Sabre Capital. IBT: HungerBox integrates IoT, AI, and data analytics into cafeteria operations. Could you walk us through a key innovation or feature that fundamentally transformed how workplace cafeterias function today? Sandipan Mitra: Absolutely! One of the biggest shifts we’ve introduced is what I like to call a move from guesswork to data work. Traditionally, food vendors in cafeterias had to rely on gut feel – how much rice to cook, what might sell more that day. That approach naturally led to wastage and inefficiency. With HungerBox, we brought in AI-powered demand forecasting. Our system studies historical order patterns, time of day, day of the week, and even seasonal trends, and helps vendors prepare just the right quantity of food. It’s not just about cost-saving; it’s about sustainability and predictability. Then there’s our pre-ordering feature, a game-changer. Employees can place their orders in advance, skip the queue, and vendors get real-time visibility into what’s in demand, allowing them to adjust menus and prep accordingly. On top of that, our platform offers personalized recommendations to users based on their preferences and habits, making the whole experience feel more intuitive. So if you think about it, we’ve fundamentally changed how cafeterias operate, from being reactive setups to becoming proactive, data-driven environments that work better for both vendors and users. IBT: How did you approach the design and development of the HungerBox platform to ensure it was scalable, customizable for diverse client needs, and seamlessly integrated with food vendors? Sandipan Mitra: Right from day one, we knew that if HungerBox had to work across India’s incredibly diverse corporate environments, the platform had to be built to scale, be flexible, and work smoothly with vendors. For scalability, we leaned into a robust cloud infrastructure. Today, our platform supports millions of daily transactions across hundreds of cafeterias without breaking a sweat. We designed it to be modular and asset-light, so we can expand to new geographies or roll out new features without rewriting everything. When it comes to customisation, we understand that no two clients are the same. So, we made sure the platform could be deeply configurable. Whether it’s creating a company-branded app, setting subsidy rules, or tweaking cafeteria operating hours, everything can be tailored to that client’s needs. And on the vendor side, we’ve always treated them as partners, not just suppliers. We built a dedicated operations interface for them that gives real-time visibility into orders, inventory, and sales. That’s a huge help in managing prep quantities, reducing waste, and improving turnaround times. We also support digital payments and automated reporting, which takes away a lot of manual work. So in a way, our role is to handle the tech and operational complexity, so that both clients and food partners can focus on what they do best. Hungerbox.ai kitchen box IBT: Many food-tech startups focus on delivery. You chose to digitise the entire cafeteria ecosystem instead. What drove this decision to target the B2B2C space over the more visible B2C market? Sandipan Mitra: This was a deliberate strategic choice, based on my understanding of the food tech market from previous ventures. While B2C is visible, it’s highly competitive and margin-sensitive. The institutional food services market, however, had massive, underserved existing demand. Our B2B2C decision offered several advantages like long-term contracts, higher AOV (average order value), and predictability, comprehensive value beyond just delivery, and deeper integrations with corporate campuses, making our platform indispensable. We chose to address a fundamental need in a high-value segment, building a ‘sticky’ business based on relationships and operational excellence. IBT: Can you share an instance where technology or user insights helped HungerBox overcome a significant operational bottleneck or challenge in the cafeteria experience? Sandipan Mitra: A significant bottleneck, especially in large corporate campuses, was managing peak-hour rush and queueing, even with pre-ordering. Many employees still preferred spontaneous ordering. We overcame this with ‘Cafeteria Density Tracking’ and ‘Slot-based Ordering.’ Our app provides employees with real-time cafeteria density information using IoT sensors and order data. This allows them to choose less crowded times or counters for pickup. For high-demand areas, slot-based ordering lets employees select specific 5-10 minute pickup windows. These features, driven by user insights, transformed peak-hour experiences, reducing wait times and improving satisfaction. IBT: Every startup faces its share of roadblocks. What were
Smart farms market to hit $2.36B by 2034, driven by climate resilience
Faced with climate change and rising food insecurity, self-sustaining smart farms are emerging as a game-changing solution. Integrating AI, automation, and renewable energy, these farms optimise resources, reduce environmental impact, and enable year-round production. With a projected market growth to US$ 2.36 billion by 2034, their modular, tech-enabled design is transforming both rural and urban agriculture into climate-resilient food systems. Global agriculture is increasingly grappling with the dual challenges of climate change and food security. In this context, self-sustaining smart farms are emerging as a transformative solution, redefining how food is produced. These farms integrate renewable energy systems and advanced technologies into a closed-loop ecosystem that is both high-yielding and ecologically responsible. Driven by innovations in agri-tech, rising public-private investments, and the urgency of climate action, the global market for self-sustaining smart farms is steadily gaining traction. Polaris Market Research estimates the market was valued at US$ 890.11 million in 2024 and projects it will reach US$ 2,360.47 million by 2034, registering a CAGR of 10.3% between 2025 and 2034. The report highlights strong demand for hardware components due to increased adoption of precision agriculture devices. Asia Pacific is expected to see the highest growth, driven by water scarcity, labour shortages, and food security needs. Technology, urbanisation, and environmental adaptation Self-sustaining smart farms optimise resource use and minimise waste through a network of real-time sensors and AI-driven analytics. Automation handles irrigation, fertilisation, and harvesting, while robotics are deployed for crop monitoring and pesticide application. These farms are not only productive but also climate-resilient—thanks to their use of hydroponic, aquaponic, and aeroponic systems that require minimal soil and water. Renewable energy sources like solar panels and wind turbines ensure energy independence and off-grid operation. At the core of this model is precision farming, which significantly enhances efficiency and productivity. Technologies like GPS-guided tractors and automated dosing systems allow farmers to apply seeds, water, and fertilisers exactly where and when they are needed, ensuring optimal input use. This targeted approach not only boosts yields on the same land area but also cuts down on operational waste—translating to lower costs and higher profitability. Smart farms also contribute meaningfully to environmental sustainability. By optimising resource application and reducing overuse of water, fertilisers, and pesticides, they help prevent runoff and leaching, thus protecting surrounding ecosystems. In addition, efficient resource utilisation helps reduce greenhouse gas emissions, aligning agriculture with broader climate change mitigation goals. Data-driven decision making further enhances farm responsiveness. Real-time insights generated through soil probes, weather sensors, and nutrient analysers allow farmers to adapt strategies based on changing conditions—be it planting schedules, crop rotation, or harvest timing—ultimately improving productivity and resilience. As climate risks intensify—with frequent droughts, erratic rainfall, and degrading soil quality—conventional farming is proving less viable. Smart farms offer a stable, closed-loop alternative, producing consistent yields regardless of external conditions. Urbanisation further strengthens the case for these farms, which can be modular and vertical, and installed in rooftops, basements, or repurposed buildings. This not only shortens food supply chains but also ensures year-round access to fresh, local produce. Rainwater harvesting and greywater recycling systems further reinforce sustainability by reclaiming water and limiting wastage. Key advantages and the road ahead Self-sustaining smart farms offer a compelling blend of technological innovation and ecological stewardship. Their impact spans multiple dimensions: Enhanced Resource Efficiency: Precision technologies ensure that every drop of water, unit of fertiliser, and watt of energy is used optimally—maximising yield while minimising waste. Lower Operational Costs: Automation and data-driven decision-making reduce input usage and labour dependence, delivering tangible savings for farmers. Climate Resilience: Operating in controlled environments, these farms can withstand erratic weather, soil degradation, and water scarcity—making food production more stable and future-ready. Environmental Sustainability: By limiting chemical runoff and reducing greenhouse gas emissions, smart farms align agriculture with climate mitigation goals and ecosystem preservation. Localized Food Systems: Modular and scalable, these farms can thrive in urban and peri-urban areas, shortening supply chains and ensuring year-round access to fresh, nutritious produce. As the global food system navigates the intertwined challenges of climate change, urbanisation, and resource scarcity, self-sustaining smart farms are emerging not just as an alternative—but as a necessity. They represent a shift towards smarter, cleaner, and more resilient food production models that can redefine the future of agriculture.
Hype vs reality: The rocky road ahead for agentic AI
A Gartner report warns that over 40% of agentic AI projects could be cancelled by 2027 due to rising costs, unclear value, and security gaps. While only a fraction of vendors offer substantial solutions, agentic AI still holds long-term promise. The report emphasizes the need to understand the roles and complexity of AI agents to unlock their true enterprise potential. A new report by Gartner has revealed that over 40% of agentic AI projects are expected to be cancelled by the end of 2027, largely due to increasing costs, unclear business value, and inadequate security measures. The findings are based on a January 2025 survey involving 3,412 webinar attendees. The report highlighted that 19% of organizations have already made significant investments in agentic AI, while 42% have opted for conservative investments. Another 8% have made no investments at all, and the remaining 31% are either undecided or adopting a wait-and-see approach. “Most agentic AI projects right now are early-stage experiments or proofs of concept that are mostly driven by hype and are often misapplied,” said Anushree Verma, Senior Director Analyst, Gartner. “This can blind organizations to the real cost and complexity of deploying AI agents at scale, stalling projects from moving into production. They need to cut through the hype to make careful, strategic decisions about where and how they apply this emerging technology.” The technology driving cognitive enterprises comes in the form of AI agents — autonomous systems that perform tasks depending on four key dimensions: the role they fulfill, the level of complexity they manage, their positioning within the enterprise, and the enabling technologies that power them. Understanding these dimensions is essential to grasp their potential and limitations. In terms of roles, AI agents can inform by identifying patterns in data, predict future scenarios, execute tasks at scale, create content, recommend context-based actions, and even orchestrate multiple agents to address complex, interconnected challenges. Depending on how they are designed, agents can serve one or several of these roles simultaneously. The complexity of AI agents ranges from basic to highly sophisticated. At the simplest level, they act as ultra-narrow tools designed to retrieve or answer a single, well-defined query with no reasoning involved. As they become more advanced, agents can autonomously coordinate workflows across departments, manage data harmonization, and handle intricate operational processes. At the frontier of development, agents are capable of supervising networks of specialized sub-agents, enabling adaptive, enterprise-wide decision-making and execution. However, the Gartner report warns that current overhype — including what it terms “agent washing,” where companies rebrand traditional tools like AI assistants or RPA bots as agentic AI — can mislead buyers and stall innovation. Of the thousands of vendors active in this space, only about 130 were deemed to offer truly substantive solutions. Despite these early-stage hurdles, Gartner maintains that agentic AI holds long-term promise. The report forecasts that by 2028, at least 15% of daily operational decisions in enterprises will be made autonomously by AI agents, up from 0% in 2024. Moreover, 33% of enterprise software applications are expected to integrate agentic AI by 2028, compared to less than 1% in 2024. These projections underscore the importance of moving beyond hype to build truly scalable, secure, and valuable AI solutions.
Funding in 2025 demands more than vision—It needs execution, proof, and a global lens
Terex Ventures is a business advisory firm dedicated to making startups not just pitch-ready but truly investment-ready. It offers end-to-end support—from building strategy and investor connections to enabling cross-border expansion. In this exclusive India Business & Trade interview, Founder Priyanka Madnani shares how Terex is bridging the gap between startups and investors, particularly through the India-UAE-Japan corridor. She discusses changing investor expectations, rising interest in sectors like AI, GreenTech, and HealthTech, and the urgent need for stronger R&D investment in India—alongside her top fundraising tips for 2025. IBT: What made you start Terex Ventures, and what gap are you trying to solve for founders? Also, how does your sector-specific pitch approach help startups stand out—especially when generic, one-size-fits-all decks no longer work with investors? Priyanka Madnani: I started this journey over a decade ago with the aim of helping founders become pitch-ready. It began back in 2016, and at the time, creating a pitch seemed straightforward. But as we worked with more startups, we realized it wasn’t just about guiding them through pitch decks or valuations — what they really needed was end-to-end support for fundraising. That’s where Terex Ventures was born. We didn’t just want to help founders become pitch-ready; we wanted to make them investment-ready. From crafting their decks to closing the fundraising round with the right investors, we support the entire journey. Earlier, we operated as a service company focused on documentation, but that limited our ability to truly drive fundraising outcomes. So, two years ago, we rebranded as Terex Ventures, evolving into a business advisory firm. Today, we support every venture with tailored fundraising and strategic investment services. IBT: Terex Ventures is building a strong bridge between India and Dubai’s startup ecosystems. What should Indian founders know about tapping into the India-Middle East VC corridor, and how does Terex enable that access? Priyanka Madnani: About three years ago, I felt the need to explore opportunities beyond India — to understand how trade and business services operate globally. That curiosity led me to the UAE, particularly Dubai, and the broader MENA region. I quickly recognized it as a global commercial hub — a launchpad from where businesses can easily access markets not just in India, but also in Africa, China, Japan, the US, and beyond. What makes the UAE so strategic is the ease of doing business — minimal taxes, supportive government policies, and incentives for setting up manufacturing plants. It’s one of the best regions today for facilitating global trade. At Terex Ventures, we experienced these advantages firsthand when we set up our B2B headquarters in Dubai. After spending a year understanding the regulatory landscape and market dynamics, we added a new vertical to Terex: supporting Indian startups in their global expansion. Today, every fundraising effort we lead comes with a growth mindset — and what better way to grow than by expanding into an established international market? That’s why we help our portfolio companies explore and set up operations in the UAE. But we didn’t stop there. We’ve also built a strong corridor for Japanese investors. While Japanese funding in India is still limited, they bring immense technological strength. On the other hand, Indian startups — especially in AI — are now developing cutting-edge solutions that are globally competitive. We’ve created a platform to bridge this gap, facilitating cross-border collaboration and investment between Indian innovation and Japanese technology ecosystems. IBT: Given your deep experience across thousands of founder journeys, what are the most common fundraising myths you’ve had to bust—and what do early-stage investors really look for today? Priyanka Madnani: Early-stage investors no longer rely solely on ideas. Earlier, it was all about having an innovative concept — if you were targeting a niche market, that alone could excite investors and generate hype. But the landscape has changed. Industries are now so overcrowded that investors are looking beyond the idea; they want real numbers and solid execution. Today, it’s all about the how — how well you’re executing, what your go-to-market strategy is, and whether there’s traction to show. Unless the idea is truly groundbreaking — say, a patented product or an untapped niche with high entry barriers — it’s no longer enough to raise capital based on concept alone. That said, there are stages of investors. Angel investors may still support idea-stage startups. But when it comes to venture capital funds, the focus has clearly shifted. For them, it’s execution, strategy, and scalability that matter most. IBT: The funding winter of 2023 marked a major correction in startup investments. What do you believe were the core factors behind the decline in deal flow and VC sentiment? Have you seen signs of revival in 2025, and what’s different in the current landscape? Priyanka Madnani: Every year around the close of the international financial cycle — especially during accounting season — we start seeing a noticeable decline in investor sentiment. This decline is often triggered by increasing instances of financial irregularities and even fraud. Initially, investors come in with expectations of profitability within 2–3 years, based on promising projections and a sustainable growth model. But what’s actually happening is quite the opposite — many founders are burning through capital at an unsustainable pace. Instead of adopting a lean approach, they’re overspending on customer acquisition without building a foundation for profitability. This is a major reason behind the current investment slowdown. Investors today are far more cautious and calculated. They’re not willing to put money into startups that are cash-burning machines without a clear path to returns. Instead, they’re prioritizing ventures that focus on innovation and show financial discipline. Another key concern is the lack of tangible output from R&D investments. While many founders raise funds claiming it’s for research and development, very few deliver on those promises. This weakens investor confidence even further. So when I look at the decline in funding compared to last year, a lot of it comes down to due diligence gaps. Investors are discovering poor financial hygiene, questionable execution metrics,
India’s food journey: growing smarter and greener
India’s food production has hit record levels, but challenges around post-harvest losses, sustainability, and equitable growth persist. This article explores how innovation in processing, eco-friendly packaging, and government-backed schemes like PMFME and PLI are reshaping the sector—ensuring that the journey from farm to fork is not just efficient, but also inclusive and climate-conscious. Over the last two decades, India has witnessed a remarkable transformation in agricultural output. Backed by consistent advancements in agri-research, expanded irrigation networks, and strong policy support, the country has scaled up its food production significantly. As per the Ministry of Agriculture’s Third Advance Estimates, India achieved a record foodgrain output of 330.5 million tonnes in 2022–23, reinforcing its standing among the world’s top agricultural producers. This surge in production has been vital in keeping pace with the demands of a growing population and ensuring basic food availability. Yet, while production is no longer the primary bottleneck, the bigger challenge now lies in ensuring that this food reaches people in a safe, nutritious, and sustainable manner. This is where the food processing sector plays a critical role. From extending shelf life to adding nutritional value and reducing waste, processing has the potential to drastically improve food security. However, India continues to suffer substantial post-harvest losses—up to 30–40% in perishables like fruits and vegetables—largely due to inadequate cold chains, poor logistics, and limited value addition at the source. To overcome these hurdles, the focus must now shift towards building a resilient, inclusive, and environmentally conscious food processing ecosystem. Climate change has added a new dimension to this urgency. From rising energy costs to plastic waste, the environmental toll of food processing must be addressed. This calls for investment not just in infrastructure, but also in climate-smart practices, energy-efficient technologies, and greener alternatives in packaging. Technology as a lever of change Innovation is already reshaping the food value chain. Robotics and automation in processing lines have brought precision and consistency. Artificial Intelligence (AI) and machine learning are being deployed for quality checks, predictive maintenance, and inventory management. Meanwhile, the growth of cold storage networks and climate-controlled logistics is helping curb wastage in transit. Yet, access to these technologies remains uneven. While larger firms and corporates have begun integrating advanced tools, smaller players—especially micro and small enterprises—often operate without them. The challenge, therefore, is not the availability of technology, but its affordability, scalability, and reach. Packaging: An environmental tipping point Among all facets of food processing, packaging stands out as both a necessity and a concern. Traditional plastic packaging, while inexpensive and effective, has become a major environmental hazard. India generates over 3.4 million tonnes of plastic waste annually, much of it from food-related packaging. The transition to eco-friendly materials—like compostable bioplastics, recyclable film composites, and smart packaging—is no longer optional. These innovations not only reduce environmental harm but also improve product traceability, freshness monitoring, and consumer confidence. The global market for smart packaging is projected to reach USD 43.6 billion by 2027, according to industry research, reflecting its growing adoption across sectors. While Indian startups and packaging companies have begun to explore such options, the high cost of sustainable materials and limited manufacturing capacity still pose challenges. The way forward lies in incentivising local R&D, strengthening supply chains for sustainable inputs, and encouraging large buyers to adopt responsible sourcing practices. Government led initiatives India’s food ecosystem is vast and deeply decentralised, with micro and small enterprises forming the backbone of rural food economies. However, these grassroots players often face barriers such as limited access to capital, technology, and formal markets. Recognising this, the government—through the Ministry of Food Processing Industries (MoFPI)—has launched several initiatives to support and formalise the sector. The PM Formalisation of Micro Food Processing Enterprises (PMFME) scheme, along with the Production Linked Incentive (PLI) scheme, has together supported over 1.4 lakh micro units across the country. While PMFME focuses on providing micro enterprises with access to credit, training, branding, and marketing support, the PLI scheme is aimed at incentivising food processing sector and expand capacity. Together, these complementary efforts are helping bridge the formal-informal divide and promote a more inclusive and resilient growth model within India’s food processing sector. At the same time, infrastructure development has received a significant push. India now boasts 24 operational Mega Food Parks with a cumulative processing capacity exceeding 4 million metric tonnes, along with 71 agro-processing clusters, nearly 400 cold chain projects, and over 200 food testing laboratories across the country. More than 1,700 projects have been sanctioned under various government programs, backed by over ₹6,700 crore in subsidies, and have leveraged an estimated ₹30,000 cr in private investment. These efforts are laying the groundwork for a robust and efficient processing ecosystem. Yet, beyond infrastructure and funding, there is a need for a stronger culture of knowledge-sharing—one that connects policymakers, innovators, and industry veterans with grassroots entrepreneurs to ensure technology and best practices reach the last mile. The road ahead India is uniquely placed to become a global hub for value-added food products. It already has the agricultural base, a growing domestic market, and an emerging ecosystem of innovation. But to realise this potential, we must ensure that the growth of food processing is balanced, sustainable, and inclusive. Platforms that encourage dialogue between government and industry, and between innovators and implementers, are essential. They will help ensure that best practices travel downstream, and that smaller enterprises are not left behind. Ultimately, the next phase of India’s food journey isn’t just about growing more—it’s about growing better. About processing with purpose, packaging with care, and ensuring that every link in the value chain is strengthened. That’s how India will not only feed itself—but also nourish the world. Shri Devesh Deval IAS is Joint Secretary, Ministry of Food Processing Industries. The views expressed in this column are personal.
Made in India, worn worldwide: Finding India’s global edge in textiles
India is steadily positioning itself as a preferred global sourcing hub for apparel, especially as international buyers diversify away from traditional centers like China and Bangladesh. In line with this shift, India’s garment exports recorded impressive year-on-year growth in April (14.4%) and May (11.3%) 2025, underscoring the sector’s rising global relevance. Recognizing this momentum and the opportunities it presents, India Business and Trade hosted a high-level webinar on “Made in India, Worn Worldwide: Emerging Opportunities in Apparel Exports” on 22nd May 2025. The session brought together top policymakers, industry leaders, and exporters to explore how India can navigate changing global trade dynamics—especially in the U.S. and EU markets—and address critical supply-side challenges. The discussion focused on key issues such as product diversification, sustainability, trade policy, infrastructure, and technology. Before delving into the expert insights shared during the session, it’s essential to understand the evolving landscape of India’s apparel trade and its export potential. India is rapidly emerging as a reliable alternative for apparel sourcing, particularly as Western buyers diversify away from traditional hubs like Bangladesh and China. According to data from the Confederation of Indian Textile Industry (CITI), India’s garment exports posted a robust 11.3% year-on-year growth in May 2025, following a 14.4% surge in April. In FY24, the textile and apparel sector contributed 8.21% to the country’s total exports, highlighting its growing strategic importance. Backed by a strong raw material base, a skilled workforce of 45 million, and projected to reach a market size of US$ 350 billion by 2030, the sector remains central to India’s economic growth ambitions. Recognizing this potential, India Business and Trade organized a webinar titled “Made in India, Worn Worldwide: Emerging Opportunities in Apparel Exports” on 22nd May 2025. The session brought together policymakers, industry leaders, and exporters to explore how India can capitalize on shifting global dynamics—particularly in the US market—and chart a roadmap for sustainable export growth. Before diving into the key insights from the webinar, let’s take a closer look at the evolving landscape of India’s apparel industry. India’s apparel landscape India ranked as the 6th largest exporter of textiles and apparel globally in 2023. The sector, including handicrafts, accounted for a significant 8.21% of India’s total exports in 2023-24. Export performance is influenced by various factors, including global demand, domestic consumption, order flows, and logistics. In early 2024, exports were initially subdued due to geopolitical disruptions in the Red Sea, which impacted export movements during January, February, and March. Currently, India’s apparel market is stitching together a strong growth story, projected to hit US$109.45 billion in 2025 with a CAGR of 3.26% through 2029. Women’s apparel is leading the charge, contributing nearly half the market at US$53.13 billion. While the U.S. tops global charts, India is making strides with per capita revenue of US$75.25 and an expected volume of 41.4 billion pieces by 2029. Notably, 98% of sales will come from the non-luxury segment, reflecting a booming demand for affordable fashion. Adding to the momentum is a growing shift toward sustainable, ethically made clothing, driven by conscious Indian consumers. India’s apparel trade The overall export of textiles and apparel (including handicrafts) grew by 7% during the April-October period of FY 2024-25, reaching US$ 21,358 million, compared to US$ 20,007 million in the same period of FY 2023-24. Major textile and apparel export destinations for India are USA, EU and UK with around 53% share in total textile and apparel exports in FY 2023-24 Among export categories, Ready-Made Garments (RMG) led with US$ 8,733 million, contributing 41% to total exports during April-October FY 2024-25. This was followed by cotton textiles (33%, US$ 7,082 million) and man-made textiles (15%, US$ 3,105 million). While exports of most key commodities increased during this period, wool and handloom exports declined by 19% and 6%, respectively, compared to the corresponding period in FY 2023-24. Export of Textile & Apparel Including Handicrafts (Apr-Oct) Source: DGCIS, figures in US$ million* A substantial portion of textile imports is driven by re-exports and industry requirements for raw materials. As of FY2023-24 India’s textile and apparel imports declined by approximately 15%, falling to US$8,946 million from US$10,481 million in FY 2022-23. During the April-October period of FY 2024-25, overall imports of textiles and apparel (including handicrafts) registered a marginal 1% decline, reaching US$5,425 million, compared to US$5,464 million in the same period of FY 2023-24. Import of Textile & Apparel Including Handicrafts (Apr-Oct) Source: DGCIS, figures in US$ million* The “man-made textiles” category remained the largest contributor, accounting for 34% (US$ 1,859 million) of total imports during April-October FY 2024-25, primarily due to a demand-supply gap in this sector. A notable rise in “cotton textile imports”, particularly “long-staple cotton fiber”, suggests an expansion in domestic production capacity. This trend reflects increasing consumption and a move toward greater self-reliance in the industry. India’s Textile & Apparel export share in India’s overall exports Source: DGCIS, Value in US$ million Speaking on recent US-China trade agreement involving significant tariff reductions — from 125% to 10% by China on US goods, and from 145% to 30% by the US on Chinese, Mithileshwar Thakur, Secretary General of the Apparel Export Promotion Council (AEPC) said – “With the recent US-China tariff reductions, the gap between Indian and Chinese export competitiveness has narrowed. However, rather than relying on shifting global trade policies, India must focus on strengthening its internal ecosystem to position itself as a reliable and scalable sourcing hub. This includes expediting the Bilateral Trade Agreement (BTA) with the US, boosting investment in upstream industries like processing and weaving, and addressing key constraints such as labor shortages and limited production capacity. India also needs to realign with global market trends by moving from a cotton-dominant export focus (currently 60:40 in favor of cotton) to man-made fibers (MMF), which globally account for over 70% of demand. Expanding the export product basket and accelerating the implementation of initiatives like the PM Mitra Parks will be crucial. Moreover, industries should shift to labor-surplus states such as Madhya Pradesh, Odisha,
Global Matcha market set for 7.1% CAGR growth in 2035
The global matcha market is brewing up strong growth, set to double in size from US$ 3.37 billion in 2025 to US$ 6.71 billion by 2035, according to Future Market Insights. Driven by rising demand for clean-label, functional, and plant-based wellness products, matcha is evolving from a traditional tea into a global superfood embraced across food, beverage, skincare, and supplements. Image credit: Pixabay The global matcha market is on the cusp of a significant expansion, projected to grow from US$ 3,373.6 million in 2025 to US$ 6,717.5 million by 2035, according to insights from Future Market Insights (FMI). This represents a robust compound annual growth rate (CAGR) of 7.1%, underscoring a powerful and sustained global shift toward wellness-driven consumption. Matcha’s rise as a functional superfood At the heart of this growth is matcha’s evolving role from a traditional Japanese tea to a modern superfood, championed by health-conscious consumers around the world. Derived from shade-grown Camellia sinensis leaves that are stone-ground into a fine green powder, matcha is rich in antioxidants, amino acids, and chlorophyll. Its ability to deliver a sustained energy boost, mental clarity, and detoxification benefits without the jitters of coffee has made it a preferred choice among millennials, Gen Z, and working professionals. FMI’s research indicates that this demographic shift is being driven by the desire for functional, clean-label, and plant-based products that support physical and mental wellness. Matcha seamlessly fits into these priorities, offering not just nutritional benefits but also aligning with broader lifestyle movements such as mindfulness, Zen-inspired routines, and natural energy enhancement. Strong performance in food and beverage sector The food and beverage sector continues to dominate matcha applications, accounting for the lion’s share of global revenues. FMI notes a surge in ready-to-drink (RTD) matcha products, including lattes, smoothies, cold brews, and sparkling teas, particularly in metropolitan areas. These are being widely adopted in cafés, restaurants, and health food stores, meeting demand for convenient yet health-forward beverage options. Matcha’s versatility is also being explored across a growing range of innovative food formats, such as matcha-infused chocolates, cookies, dairy products, breakfast cereals, and energy bars. Its distinct umami flavor, vibrant green color, and functional health halo make it an appealing ingredient for food technologists and chefs alike. With the rise of vegan and organic food trends, matcha’s natural origin and compatibility with plant-based recipes further enhance its attractiveness to consumers seeking ethical and eco-conscious food choices. Global markets embrace the Matcha movement While Asia Pacific, led by Japan, China, and South Korea, remains the cornerstone of global matcha consumption, North America and Europe are rapidly narrowing the gap. FMI attributes this momentum to factors such as growing awareness of adaptogens, increasing café culture, and the influence of digital wellness influencers who advocate matcha for its calming and energizing properties. In the United States, matcha has firmly established itself in third-wave coffee shops and wellness-focused retail chains as a “better-for-you” coffee alternative. In Europe, particularly in the UK, Germany, and the Nordic countries, matcha is gaining ground among consumers who are embracing clean eating and holistic health practices. As consumers become more selective, product transparency, quality sourcing, and eco-friendly practices are emerging as major purchase drivers. Companies are meeting this demand by offering organic-certified matcha, highlighting geographic origin—such as premium varieties from Uji and Nishio in Japan—and investing in sustainable packaging. The rise of direct-to-consumer (D2C) models, including subscription boxes and curated wellness kits, is enabling brands to connect directly with consumers, offering personalized matcha experiences. Influencer-led storytelling and digital marketing campaigns are further fueling consumer engagement and brand loyalty. Online marketplaces now feature a wide array of matcha types—ceremonial, premium, and culinary grades—catering to different usage preferences, from daily beverages to gourmet recipes and beauty routines. Expanding horizons: From nutraceuticals to skincare Beyond food and drink, matcha is making waves in nutraceuticals and personal care. Its high levels of epigallocatechin gallate (EGCG) and L-theanine have been linked to anti-aging, anti-inflammatory, and cognitive benefits. This has led to a growing portfolio of matcha-based capsules, serums, facial masks, soaps, and wellness supplements targeting health-conscious and eco-aware consumers. FMI highlights that technological innovations, such as microencapsulation and cold processing techniques, are helping preserve matcha’s bioactive compounds. These advancements are improving shelf life and maximizing potency across delivery formats, adding further value to matcha-based products. The global matcha market is experiencing a dynamic transformation, underpinned by shifting consumer preferences, technological advancements, and expanding application areas. With its potent combination of health benefits, clean-label credentials, and versatile usage, matcha is well-positioned to become a cornerstone of the global wellness economy. As brands continue to innovate and align with the values of sustainability, transparency, and holistic living, matcha’s vibrant green presence is set to shine brighter across the global marketplace in the decade ahead.
Electronics industry sounds alarm over rare earth magnet crisis
China’s recent export restrictions on key rare earth elements have severely impacted India’s audio electronics industry, particularly the supply of NdFeB magnets used in devices like speakers, smartphones, and wearables. According to Electronics Industries Association of India (ELCINA), over 21,000 jobs are at risk as manufacturers face rising costs, production delays, and are forced to import fully assembled modules from China. The disruptions threaten progress made under the Make in India initiative. India currently relies on China for 90% of its magnet needs. China’s recent export restrictions on key rare earth elements are causing major disruptions across India’s audio electronics sector, placing over 21,000 jobs at risk and threatening to reverse the progress made under the government’s ‘Make in India’ initiative. The Electronics Industries Association of India (ELCINA) has warned that the restrictions could severely impact the country’s hearables, wearables, and speaker manufacturing industries, which are heavily dependent on Chinese supplies of rare earth magnets. In April 2024, China implemented stricter export licensing rules for rare earth elements like terbium and dysprosium, which are crucial in manufacturing Neodymium-Iron-Boron (NdFeB) magnets. These high-performance magnets are integral components in a wide range of consumer electronics, including speakers, microphones, haptic motors, and camera modules with optical image stabilization (OIS). Although some final assembly for these components occurs in India, the magnets themselves are almost entirely itmpored—primarily from China, which accounts for nearly 90% of India’s total requirement. ELCINA’s white paper submitted to the government highlights that supply disruptions are already affecting speaker manufacturing hubs in Noida, Chennai, and Pune. Many manufacturers, facing uncertainty and delays, are being forced to switch to importing fully assembled speaker modules from China. This shift undermines years of effort to localize production, build domestic capacity, and reduce reliance on imported finished goods. The situation is especially concerning for India’s rapidly growing hearables and wearables segment. China’s curbs have led to increased production costs, longer lead times, and a shortage of critical components—resulting in a growing trend of assembly units reverting to finished imports. ELCINA estimates that between 5,000 to 6,000 direct jobs and an additional 15,000 indirect jobs in the speaker and audio component industry, particularly in Noida and southern India, are now at risk. The association also flagged the new Chinese requirement for end-use declarations as a major bottleneck. Shipments of magnets, as well as finished goods containing embedded magnets, are being delayed at Chinese ports, disrupting Indian production schedules. These delays are already affecting supply chains for Indian TV and audio brands. Although rare earth magnets constitute just 5–7% of the bill of materials for such products, their strategic importance is significant. Even though smartphones, for example, use a small quantity of rare earth magnets per unit, the high volume of production means that any disruption has outsized effects. Industry experts warn that prolonged shortages could lead to higher device costs, reduced availability of advanced features like OIS and haptics, and delays in market-ready product launches. ELCINA stressed that India urgently needs to reduce its dependency on a geopolitically sensitive supply chain. While short-term plans involve diversifying rare earth sourcing from countries like Australia, Africa, and Myanmar, long-term resilience will require India to develop its own capacity for rare earth processing, refining, and magnet production. Some Indian companies are already exploring alternative solutions. ELCINA has urged the government to take a multi-pronged strategic approach. It recommends initiating government-to-government (G2G) dialogues with China to negotiate possible exemptions—similar to those offered in the semiconductor sector. The association has also pushed for the inclusion of rare earth magnets and other critical minerals in India’s electronics component manufacturing scheme and suggested launching a dedicated production-linked incentive (PLI) scheme to support local manufacturing. The association further emphasized the need to invest in research and development, as well as in recycling infrastructure, to reclaim rare earth materials from end-of-life products. Such efforts could help create a circular economy for critical components and reduce import dependency in the long-run. In response to the escalating crisis, the Indian government is reportedly finalising a ₹3,500–5,000 crore scheme to boost domestic production of rare earth minerals and the magnets made from them. The scheme aims to incentivise local production and reduce the country’s heavy reliance on Chinese imports. This follows a global pattern, as industries in the United States and Europe are also grappling with similar shortages after China’s export tightening. With India aiming to become a global manufacturing hub for electronics, including smartphones, TVs, and wearable devices, securing a stable and resilient supply of rare earth magnets is essential. Industry stakeholders agree that a mix of policy support, diplomatic engagement, and domestic capability building will be necessary to safeguard jobs, protect ongoing investments, and maintain momentum in one of India’s most promising high-growth sectors.
From bunkers to industries: Scaling air purification beyond shelters
IBT interacted with Maj Gen Dr Shri Pal, VSM (Retd), Managing Director of BUNKERMAN Global Solutions Pvt Ltd, to understand how a military-grade air purification system is now redefining indoor air safety for industrial, urban, and strategic settings. Drawing from his expertise in Nuclear Protection Systems, Dr Pal explains how an indigenous, scalable, and AI-integrated solution—originally built for sealed survival environments—is now finding critical application in factories, data centers, hospitals, and even space-constrained smart cities. IBT: What market gaps led you to build this system? Was it a personal insight or future risk scenario? Dr. Shri Pal: BUNKERMAN Technology was born out of both personal insight and an urgent recognition of future risk. As a former military engineer and expert in Nuclear Protection Systems, Maj Gen Dr Shri Pal VSM (Retd), we foresaw the rising dangers of air pollution, CO₂ buildup, and chemical threats—especially in enclosed spaces and critical infrastructure. The lack of an affordable, indigenous, and scalable Indoor Air Quality Management System in India presented a clear gap, which BUNKERMAN innovated and designed to fill with an integrated, life-supporting and sustainable solution. IBT: What engineering challenge was the toughest when building an end-to-end life-support system? Dr. Shri Pal: The greatest engineering challenge was designing a multi-layered air purification and life-support architecture that could absorb the harmful pollutants, regulate oxygen, and maintain positive pressure—all within one unified system. Balancing energy efficiency, durability, and real-time sensor integration without depending on imported components was a technical feat we overcame through indigenous R&D and cross-disciplinary innovation. IBT: How does the system coordinate between air purification, oxygen management, and environmental monitoring—and what makes that integration reliable under pressure? Dr. Shri Pal: Our device uses an AI-enhanced microcontroller-based architecture that continuously monitors CO₂, PM2.5, PM10, VOCs, O₂ levels, and other environmental parameters. Based on real-time feedback, the system automatically adjusts its filtration requirement control, oxygen replenishment control, and positive pressure controls. Its modular fail-safe logic and redundancy circuits ensure consistent operation, even under pressure or external threat scenarios. IBT: Has the technology been stress-tested in actual sealed environments or critical situations? What did you learn from those deployments? Dr. Shri Pal: Yes, the technology has been stress-tested in actual sealed environments and simulated critical conditions. The systems have been practically operational in near-sealed conditions for over a year at Guwahati Refinery of Indian Oil Corporation Limited at Guwahati (Assam) in India. Also the systems installed at BUNKERMAN HOUSE in New Delhi and with a large number of customers throughout India, have been satisfactorily working over the past one year now under the real ground conditions. The recorded data collected from these sites has shown extremely satisfactory results. It is learnt that the filters installed originally with the equipment shall last for a period of more than one year without replacement. These deployments validated the durability, low maintenance demand, and pollutant-to-manure conversion efficiency of the system—even under high humidity and high pollutant load conditions. IBT: What kind of maintenance or user interaction does it realistically require over weeks or months in a closed setting? Dr. Shri Pal: Our Systems require minimal user interaction. Its filters are designed to last for 6 to 12 months of continuous use, depending on the pollution load and site conditions. The device collects feedback from users on quarterly basis and send their inspection teams to users at site whenever required. A simple mobile dashboard or onboard display alerts the users if manual intervention is needed. The system is plug-and-play type with auto-calibration for atmospheric balance. The replacement of filters is done by the technical team after one year or as and when required by the users as per terms and conditions on the contract/ supply order. IBT: In case of system failure like power outage or filter degradation, what fail-safes or redundancies are built in? Dr. Shri Pal: In case of power outage, Uninterrupted Power Supply (UPS) with Battery Backup is supplied to the users as per their demands. Filters do not generally degrade before the scheduled time for which these are tested. However, some spare filters may be kept by the users to be used as spare/redundancies in case of any such eventuality. In addition, the system also includes Overpressure Relief Valves to prevent structural compromise, Filter Life Monitoring Algorithms with predictive alerts, Manual Ventilation Override and Oxygen Surge Canister Modules for emergent air quality stabilization, if required. These provisions ensure that even during sudden failures of any system due to unforeseen reasons, critical air quality is sustained. IBT: Beyond bunkers and shelters, do you see this being scaled or adapted for industrial settings perhaps to help reduce atmospheric CO₂ in factories, ships, or even indoor farming? Dr. Shri Pal: Absolutely. Our Technology and Systems are already being adopted in: refineries and chemical plants (e.g., IOCL), data centers and server rooms, shopping malls, administrative air conditioned buildings, ships and ports for maritime air quality compliance, indoor farming, hospitals, hotels, shopping malls, chemical laboratories, clean rooms etc. Its ability to absorb CO₂ and other pollutants and also to convert pollutants into Mineral Rich Organic Manure (MROM) makes it especially valuable for industries and establishments pursuing Net Zero and ESG mandates. IBT: How versatile is the platform? Could it be reconfigured for submarines, space modules, or zero-energy buildings? Dr. Shri Pal: Our device is modular by design, making it reconfigurable for: Submarines, Space Modules (with oxygen recycling upgrades), passive homes and zero-energy buildings. Future R&D phases include integration with renewable power sources and atmospheric water generators, making it suitable for off-grid and extraterrestrial environments. IBT: What kind of users or sectors are beginning to show interest and where do you see the adoption curve heading in the next five years? Dr. Shri Pal: Current interest is strong from: Refineries & Petrochemical Industries, smart cities & government buildings, semiconductor manufacturing, testing and assembly industries, hospitals & pharmaceuticals, star rated hotels, shopping malls, disaster shelters & strategic defence installations. In the next five years, we anticipate mass adoption of BUNKERMAN Systems in public
