Last Updated: December, 2016
Indian tobacco, introduced by the Portuguese in the 17th century, is appreciated worldwide for its rich, full-bodied flavour and smoothness. It is now an increasingly well-known as well as respected commodity in global tobacco markets and has found its way into cigarettes manufactured in several countries. India has an impressive and progressive profile in the global tobacco industry. India is the third-largest tobacco producer in the world, with annual production of about 800 million kgs.
Tobacco and tobacco products generate around US$ 2.9 billion in revenues to the national exchequer by way of excise duty, and around US$ 728.9 million by way of foreign exchange every year.
The Tobacco Board of India is a facilitator for tobacco growers, traders and exporters. By creating synergies between these stakeholders, the Board fosters a vibrant enterprise, with a deep social conscience and strong national commitment. The Board estimates demand and regulates the production of FCV tobacco to match demand to ensure a fair price for the produce. The Tobacco Board assists tobacco farmers in securing crop loans, quality seeds, fertilisers and other critical inputs; it also counsels farmers on GAP to produce quality tobaccos to meet the evolving international demand. In addition, the Board conducts auctions for the sale of tobacco in a competitive and transparent environment. On the export front, the Board strives to improve the existing markets and develop new markets for Indian tobacco and tobacco products by undertaking brand building exercises and participation in international tobacco exhibitions. The Board sponsors trade delegations to potential importing countries and also invites delegations from other countries.
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Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.