Indian Spices Board Targets $10 Billion In Exports By 2030, Seeks Insights From Stakeholders

Indian Spices Board Targets $10 Billion In Exports By 2030, Seeks Insights From Stakeholders

India is the world’s largest spice producer, and consumer as well as exporter, and over the years, the production of various different spices has grown rapidly in the country. The largest spice-producing states in India are Madhya Pradesh, Rajasthan, Gujarat, Andhra Pradesh, Telangana, etc. Of the 109 varieties that the International Organization for Standardization (ISO) lists, about 75 are produced in India.

Pepper, cardamom, chili, ginger, turmeric, coriander, cumin, celery, fennel, fenugreek, garlic, nutmeg, and mace, as well as spice oils and oleoresins, are the most produced and exported spices. About 76% of the total production of spices is made up of chili, cumin, turmeric, ginger, and coriander.

Plans For The Spice Industry

The Spices Board, which reports to the Ministry of Commerce, is developing a plan to Export Spices worth USD 10 billion by 2030. The board has urged all interested parties to submit ideas on how to increase shipments in terms of developing markets and trade barriers.

During an event in Kochi, Mr. D Sathiyan, Hon’ble Secretary of the Spices Board, said, “The Board has been strategizing to achieve USD 10 billion in exports of spices by 2030.”

The creation of Brand India in the spice industry and diversification of the spice markets, according to Mr. Rajesh Agrawal, Hon’ble Additional Secretary, Ministry of Commerce, will help make India’s export of spices more resilient and sustainable. He also urged leveraging technology and public-private partnerships to spur additional expansion and advancements in the spice industry.

During the event, a panel discussion on doubling exports was held with exporters and leaders in the spice industry. Mr. Rajesh Agrawal presented

a compendium on the sidelines of the panel discussion on the key programs for exporters of spices that had been assembled and prepared by YES Bank and the Spices Board.

The Spices Board

During the months of April through January of this fiscal year, spice exports fell by about 6% to USD 3 billion. The Spices Board acts as a bridge between Indian exporters and international importers and has been involved in numerous activities that pertain to every area of the spice industry.

To raise awareness about food safety and spice quality for producing surplus high-quality spices, the Board organized a national campaign on “Clean and Safe Spices” that included more than 20 States and UT. The action aims to strengthen the sector’s entire value chain.

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