The Spices Board, which operates under the Commerce Ministry, is devising a plan to attain USD 10 billion in exports by 2030. The board has invited suggestions from all stakeholders on ways to enhance shipments concerning new markets and impediments to trade. During an event held in Kochi, Secretary of the Spices Board, D Sathiyan, expressed that the board has been working on a strategy to achieve the USD 10 billion target. Additional Secretary of the Ministry of Commerce, Rajesh Agrawal, called for diversification of export markets and the creation of a “Brand India” in the spices industry to make India more sustainable and resilient in the spice export market. He also encouraged the utilization of technology and public-private partnerships for further progress and development in the spices sector. The spice exports have decreased by approximately 6% to USD 3 billion during April-January this fiscal year.
To achieve the USD 10 billion target, the Spices Board is gathering perspectives from stakeholders on potential and emerging markets and also on obstacles in the trade of spices. The board works as an international liaison between Indian exporters and importers abroad, and it has been involved in various activities that cover every segment of the spices sector. A panel discussion was organized during the event, and it was attended by leaders and exporters of the spice industry to discuss doubling exports. Alongside the panel discussion, the Spices Board and YES Bank released a compendium on the key schemes for spice exporters.
The Spices Board has also launched a nationwide campaign on “Clean and Safe Spices,” covering more than 20 states and union territories to raise awareness on food safety and the quality of spices, with the aim of strengthening the entire value chain of the sector.
The Indian spice industry is one of the country’s largest agricultural export industries, and the nation has consistently been the world’s biggest exporter of spices, with a 48% share of the global market. The spices industry also plays a vital role in generating employment and enhancing the economy of the country, particularly in rural areas. However, the COVID-19 pandemic and the global economic downturn have severely affected the spice industry, causing a decline in exports. Therefore, the Spices Board’s initiative to achieve the USD 10 billion target will not only provide a boost to the industry but will also help in the country’s economic recovery.
The board is aiming to capitalize on the opportunity by expanding to emerging markets such as Africa and South-East Asia. The Spices Board has already established 14 regional offices in India and six international offices, including those in the United States, Europe, China, and Dubai, to enhance the reach of the Indian spice industry. The board’s efforts to promote spice exports have been successful, as it has led to significant progress in the exports of spices such as pepper, cumin, cardamom, ginger, and turmeric.
The Spices Board’s plan to achieve USD 10 billion in exports by 2030 is a significant step towards enhancing the Indian spice industry’s growth and development. The board’s focus on diversifying export markets, creating Brand India, leveraging technology, and establishing public-private partnerships will help in making India a more sustainable and resilient player in the global spice market. Furthermore, the nationwide campaign on “Clean and Safe Spices” launched by the board will create awareness on food safety and quality of spices, leading to strengthened value chains in the sector.
