New Delhi: India dominates the worldwide turmeric market, with 70% of complete world exports and between 2017 and 2023, turmeric exports elevated from USD 182 million to USD 212 million, marking a 16% development, reveals a current Examine by ICRIER.
The Indian Council for Analysis on Worldwide Financial Relations (ICRIER), in collaboration with Amway India Enterprises Pvt. Ltd., has undertaken a complete examine titled “Making India the World Hub for Turmeric.” This in-depth examine explores the untapped potential of India’s turmeric sector, providing a roadmap to determine the nation because the world’s main turmeric export hub.
The analysis workforce, led by Dr. Arpita Mukherjee together with Ms. Ketaki Gaikwad, Ms. Trishali Khanna, Ms. Aahana Srishti, Ms. Latika Khatwani, and Ms. Nandini Sen, has meticulously analyzed India’s standing as the most important producer, client, and exporter of turmeric. India accounts for over 75% of worldwide turmeric manufacturing, cultivating greater than 30 varieties throughout 20 states. The examine highlights the flexibility of turmeric’s functions throughout industries, together with meals, drugs, textiles, and cosmetics.
Within the fiscal 12 months 2022-23, India reaffirmed its standing as a world chief in turmeric manufacturing, producing a formidable 11.7 lakh tonnes of turmeric throughout a sprawling 3.20 lakh hectares of land. This positions India as not solely the most important producer but in addition a significant participant in world turmeric exports, accounting for almost 70% of the world’s complete provide.
Dr. Arpita Mukherjee, Professor at ICRIER and the examine’s lead, mentioned, “Turmeric has far-reaching functions, however India lacks a complete technique to totally leverage its potential. This examine goals to fill that hole by figuring out key points and offering actionable insights for enhancing India’s value-added turmeric exports.”
Highlighting key insights of the Examine, Dr Mukherjee mentioned, “Between 2017 and 2023, India’s turmeric exports surged, rising from USD 182 million to USD 212 million, reflecting a strong 16% development over this era. This upward trajectory underscores the rising world demand for Indian turmeric, pushed by its numerous functions in meals, cosmetics, conventional drugs, and the quickly rising nutraceutical sector.”
In keeping with the Examine, turmeric’s excessive curcumin content material has contributed to its rising recognition in well being dietary supplements and various drugs, the place it’s valued for its potent antioxidant and anti inflammatory properties.
Nevertheless, regardless of this robust world presence, India’s share of turmeric exports has proven some variability, fluctuating between 65% and 75% throughout the identical interval. The Examine reveals that these fluctuations name for a extra constant technique to keep up and develop its market share, guaranteeing that India stays the dominant pressure within the world turmeric commerce. By addressing these challenges, India can additional solidify its place because the main hub for turmeric manufacturing and export, the Examine really useful.
The examine goals to supply coverage suggestions and a framework for scaling up India’s place within the world turmeric market. By conducting secondary information evaluation and first surveys throughout six main turmeric-growing states: Telangana, Tamil Nadu, Maharashtra, Meghalaya, Orissa, and Madhya Pradesh, ICRIER seeks to determine challenges and alternatives for worth addition. The survey engaged 374 stakeholders, together with farmers, FPOs, producers, and merchants. ICRIER has performed consultations and interviews with policymakers and business stakeholders to develop greatest practices for manufacturing, advertising, value threat administration, and worldwide commerce.
The findings of this examine will pave the best way for India to reinforce its competitiveness within the world turmeric market, guaranteeing long-term development and sustainability, concluded Dr Arpita Mukherjee.
The publish India dominates world turmeric market with 70% of world exports: Examine appeared first on BioVoiceNews.