Shri Piyush Goyal calls upon the Spices Industry to double the sector exports to USD 10 Billion in the next five years
- IBEF
- February 28, 2022
Mr. Piyush Goyal, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, today urged the Spices Industry to quadruple its exports to US$ 10 billion in the next five years. Spices exports surged by 115% in volume and 84% in value between 2014 to 2021, reaching an all-time high of US$ 4.2 billion in 2020-21. “Now, Indian spices & spices products are reaching over 180 destinations all over the world,” he said.
Quoting the Prime Minister Mr. Narendra Modi, he said, “During Covid, along with India's medicines & vaccines, the world experienced the importance of our spices & Kadha.” He announced the inauguration of the revolutionary Weather-based crop insurance scheme for Cardamom farmers, a collaborative initiative of the Spices Board and the Agricultural Insurance Company of India. He also urged the spice business to get a Geographical Indications (GI) tag for their unique products.
He also mentioned that “26 Indian spices have received GI like Coorg Green Cardamom, Mizo Ginger, Kanniyakumari Cloves etc., we should capture more such possibilities for traditional Indian produce.”
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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