Indian Economy News

Double exports, achieve US$ 10 billion export target by 2030: Mr. Piyush Goyal exhorts spices industry

  • IBEF
  • September 18, 2023

Union Minister for Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Mr. Piyush Goyal said, “Spices unite India. Spices of India resonate across the country and reflect the rich traditional culture and heritage along with our well-known trading power. We have to once again bring back the old charm that Indian spices had across the world. India doesn’t settle for second best anymore. We have to become a world leader in the Spice Industry”.

He was speaking at the World Spice Congress in Navi Mumbai on September 17th, 2023. At the ceremony, he also presented the Spices Export Excellence Awards for 2019-2020 and 2020-2021.

The World Spice Congress, one of the largest events in the spices industry, brought together all essential players in the global spices industry under one roof from September 15th-17th, 2023, in Mumbai.

The Minister emphasised the importance of expanding the spice sector through value addition to exports. He asked industry players to collaborate in order to increase exports from US$ 4 billion to US$ 10 billion by 2030.

He emphasised that in order to meet the aim, everyone must work together with focused efforts to acquire emerging markets through higher value addition while also increasing existing markets.

He also proposed that the 35 million people of Indian ancestry living worldwide be designated brand ambassadors to encourage higher usage of spices worldwide.

Moreover, Mr. Piyush Goyal said “The launch of the India - Middle East - Europe Economic Corridor is similar to the Spice Route of the past. So, we should be actually looking up to this new initiative that Prime Minister Mr. Narendra Modi has launched along with other world leaders. This is an appropriate opportunity for us to bring back the glory of the old Spice Route. It is an opportunity to celebrate the flavours of India and the versatility the country offers. Let us go to capture world markets”.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.