Value Addition Key to Achieving India's $10 Billion Spices Export Target

India's spices export industry is setting its sights on an ambitious goal of reaching USD 10 billion in exports by 2030, with a longer-term target of USD 25 billion by 2047. The path to achieving this lies in enhancing the share of value-added products and exploring new markets, according to industry experts.

Current Performance and Growth Potential

In the 2023-24 financial year, India's spices exports hit a record USD 4.4 billion, maintaining an upward trajectory with an 8% growth rate during the April-January period of the current fiscal year. However, to more than double these export figures by 2030, a strategic shift towards higher value addition is necessary.

Ramkumar Menon, Chairman of the World Spice Organisation and a Managing Committee Member of the All India Spices Exporters Forum (AISEF), highlighted that the value-added component currently constitutes 50% of exports. "To achieve the USD 10 billion target, this must increase to 70%," Menon emphasized.

Addressing Domestic Consumption and Exportable Surplus

The International Spice Conference 2025 in Bengaluru, hosted by the AISEF, underscored the industry's growth prospects. The event drew 925 participants, including 250 international delegates, showcasing global interest in India's spices sector.

India's Spices Export Targets and Market Opportunities

Conclusion: Driving Growth Through Value Addition and Market Expansion

India's spices industry stands at a pivotal point, with a clear opportunity to transition from raw commodity exports to high-value products. By focusing on segments like nutraceuticals and seasonings, and advocating for supportive trade policies, India can enhance its global market share. The collaboration between industry leaders and the government will be crucial to unlocking the full potential of India's spices sector and achieving the ambitious export targets set for 2030 and beyond.