India targets $10-bn spices exports in 5 yrs
India’s spices industry should try to double the sector's exports to $10 billion in the next five years, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal said on Saturday.
image for illustrative purpose
New Delhi: India's spices industry should try to double the sector's exports to $10 billion in the next five years, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal said on Saturday.
India's spices exports have increased by 115 per cent in volume and 84 per cent in value ($) between 2014-21, reaching a historic high of $4.2 billion in 2020-21.
Addressing an event to mark the 35th anniversary of the Spices Board through virtual mode, the Union Minister said, "We now aspire to meet our ambitious target for spices export of $10 billion not by 2030, but maybe even faster."
"Can we aspire to reach it in the next five years? I think we can! Let us aspire to double our exports to $10 billion in the next five years by 2027 and then further double our exports by $10 billion in the next five years," Goyal added.
