Mumbai: Union Commerce and Industry Minister Piyush Goyal on Saturday said the spice industry should work together to explore new markets, strengthen existing markets and focus on value-added products to reach the export target of $10 billion by 2030. . Addressing the ‘World Spices Congress 2023’, Goyal said, “Currently our total export of spices is four billion dollars.
We should focus on value added products instead of exporting spices in raw form. We should create more markets by exploring new markets and strengthening existing markets. We should consider building factories for value-added products for the spices sector to reach $10 billion exports by 2030.’
Referring to the surge in turmeric consumption during the Covid pandemic, he said, “If we focus all our energy on turmeric by developing value-added products, then turmeric exports alone have the potential to reach two billion dollars. The Minister also suggested having the name ‘Bharat’ as a brand or certification representing high quality and premium spice products.
Along with this, Goyal said that more than 3.5 crore people of Indian origin living abroad can add a lot of value to the spice business. “The Indian diaspora living abroad can help in increasing spice consumption among other communities,” he said. They can become your brand ambassadors and help the industry expand its market internationally.”