How Indian state governments are endorsing the pet industry
Telangana state is supporting a recent investment in Mars, while officials in Karnataka put in place initiatives to support the local industry.
According to projections, the Indian pet industry is set to grow at a rate of 20% CAGR, touching ₹20,000 crore (€2.2B/$2.4B) by 2025 from the current ₹8,000 crore (€888.4M/$967M). And state governments across the country are seeing the sector’s potential.
Mars India has recently announced an investment of ₹800 crore (€88.8M/$96.7M) in the expansion of its Siddipet manufacturing facility in the southern part of Telangana state.
The Siddipet faculty was set up with an initial investment of ₹200 crore (€22.2M/$24.1M) to manufacture pet food for Pedigree and Whiskas brands. In December 2021, Mars signed a Memorandum of Understanding (MoU) with the state government declaring a ₹500 crore (€55.5M/$60.4M) investment in the facility’s expansion.
In all, the site has witnessed investment rise to ₹1,500 crore (€166.5M/$181.3M).
Mars and the state government have also agreed to enter a broad-based partnership to establish initiatives to improve pet care and pet nutrition in the country.
“Our dialogue encompassed establishing Mars Inc.’s significant presence across vital domains such as R&D, digitalization, agricultural supply chains, innovation, and sustainability,” writes Industries and IT Minister Kalvakuntla Taraka Rama Rao.
Promoting best practices
The government of the southern state of Karnataka recently said that is committed to supporting initiatives promoting research, education, and the dissemination of best practices in the pet industry.
“Earlier, veterinary care was confined to mere medical treatment. Now, it has been transformed into a comprehensive approach that encompasses preventive care, nutrition, behavior management, and emotional well-being,” says the state Infrastructure Development Minister Mallanagouda Basanagouda Patil.
He adds that there will be an increased focus on the convergence of health technology, innovation, and sustainable practices to create new opportunities, and this encompasses the global pet industry.
The intentions of its application, timeline and tentative funding budgets are not yet known.
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