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Context: India’s dairy sector is not just large—it is the largest globally. India is the world’s biggest producer and consumer of dairy, accounting for nearly a quarter of global milk production. The sector is valued at ~₹10.8 trillion (~US$121 billion) as of FY25, underscoring its critical role in the country’s food economy. Over the last five years, the Indian dairy market has demonstrated robust growth, expanding at a ~9.7% CAGR from FY20 to reach ~₹10.8 trillion in FY25. Looking ahead, the market is projected to grow at a ~10.4% CAGR from FY25 to ~₹17.7 trillion by FY30. The dairy sector can broadly be segmented into liquid milk and value-added products such as paneer, curd, cheese, butter, ghee, khoa, skimmed milk powder, milkshakes, ice cream, yogurt, and whey. While liquid milk grew at a CAGR of ~7.2% during FY20–FY25, VAP expanded at a much faster pace of ~13.7% over the same period.This divergence is expected to widen further—between FY25 and FY30, liquid milk is projected to grow at ~5.9%, whereas VAP is expected to grow at ~15.5% making VAP VIP in dairy. This article aims to cover “Why is VAP VIP in Dairy” Source: Milky Mist DRHP and IBEF VAP can […]