Indian Economy News

Spice exports have doubled in the last nine years, says Mr. Piyush Goyal

India's spice exports have doubled over the past nine years, from US$ 216.2 million (Rs. 1,778 crore) in 2013-14 to US$ 485.8 (Rs. 3,995 crore) in FY23, informed Mr. Piyush Goyal, the Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles.

In FY23, approximately 165 countries imported spices from India, according to data from the Ministry of Commerce. Bangladesh, the UAE, Morocco, the Netherlands, Germany, and the US are a few top international markets for Indian spices.

With 15.31 lakh tonnes of spices produced in 2021-22 and 2022-23, India is the world's top producer of spices, as per the Spice Board of India, a statutory organisation under the Union Ministry of Commerce and Industry.

Assam, Orissa, Uttar Pradesh, West Bengal, Madhya Pradesh, Rajasthan, Gujarat, Andhra Pradesh, Telangana, Karnataka, Maharashtra, and Kerala are the states with the largest concentration of rural MSMEs in India's spice sector.

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