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Piyush Goyal Sets Ambitious Goal for Spice Industry: $10 Billion Exports by 2030

Piyush Goyal Sets Ambitious Goal for Spice Industry: $10 Billion Exports by 2030

Union Minister for Commerce and Industry, Piyush Goyal, address the World Spice Congress 2023 with a vision to elevate India’s spice industry to new heights. He emphasized the need for teamwork within the spice, expansion into new markets, and the development of value-added spice products. Goyal’s goal is to boost spice exports to $10 billion by 2030, nearly tripling the current figure of $4 billion.

Value Addition for Spice Exports

Minister Goyal the importance of moving beyond raw spice exports and investing in value-added products. He cited the remarkable surge in demand for turmeric during the COVID-19 pandemic owing to its medicinal . Turmeric alone, with a focus on value addition, has the potential to achieve $2 billion in exports.

Creating a ‘Bharat’ Brand

Goyal proposed the creation of a ‘Bharat’ brand or certification to signify high-quality and premium spice products from India. He urged the industry to avoid exporting sub-standard products that could tarnish the country’s image. The minister encouraged innovation, productivity, sustainability, and exclusivity, positioning Indian spices as premium products in global markets.

Leveraging the Indian Diaspora

Highlighting the vast Indian diaspora of over 35 million people living overseas, Goyal emphasized their potential to promote and expand spice in other communities. He suggested that the Indian diaspora could become brand ambassadors for the spice industry, aiding in its international growth.

Spice Congress 2024

Minister Goyal  the Spices Board for the Spice Congress after a hiatus and requested the organization to host a world-class exposition, symposium, and conference for the spice industry in Delhi in 2024. The goal is to invite all industry players, international competitors, and buyers to promote India’s spices on a global stage.

Conclusion

Union Minister Piyush Goyal’s ambitious vision for India’s spice industry is poised to  it into a global. With a focus on value addition, quality, and market expansion, the industry aims to triple its exports to $10 billion by 2030. Goyal’s call to action  with the rich cultural heritage of Indian spices, and the industry is geared up to capture the world market with innovation and premium offerings.

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