New Delhi, Aug 23 (IANS): The organisers of Indian F&B sourcing show, IndusFood, have set a target of $1.5 billion in its 2020 edition with the addition of two new verticals "Indusfood-Tech and Indusfood-Chem".

According to the Trade Promotion Council of India, the move will now establish Indusfood as "a fully integrated food processing lifecycle event".

The event is organised by the Department of Commerce and the TPCI.

"The launch of two new verticals is a huge opportunity for India to showcase India's prowess in cost effective F&B processing technologies and robust food ingredients suppliers to the buyers from SAARC, Africa and Eurasian countries," said Keshav Chandra, Joint Secretary, Commerce.

"The shows will also allow foreign technology providers to bring the latest in the world to integrate the ever-burgeoning demands of our vast F&B processing industry. Such a move will eventually accelerate investments in the form of JVs and tech-transfers."

The IndusFood-Tech 2020 will showcase technologies for food processing, oil extraction, cold chain & refrigeration, beverage & drink technology, dairy processing, sweets & confectionary, fruits & vegetable processing and will also equally emphasise on the very important aspects of food packaging, labeling and supply chain gaps.

"We can change the landscape of Indian food processing sector by integrating ultra modern food processing technologies with applications based on big data computing, blockchain technologies, IOT & machine AI along with large scale virtual process management, which is extremely crucial for our country to manage post harvest losses," TPCI Chairman Mohit Singla said.

Indusfood Tech & Chem will be held in Greater Noida from January 8-10, 2020.