A day after the launch of the Nationwide Turmeric Board, the Indian Council for Analysis on Worldwide Financial Relations (ICRIER) and Amway India Enterprises Pvt Ltd launched a complete report titled “Making India the International Hub for Turmeric”. The joint examine outlines a strategic roadmap to handle the challenges confronted by turmeric farmers and strengthen India’s place within the international turmeric market.
The report was launched on Wednesday, following the inauguration of the Nationwide Turmeric Board’s workplace in Nizamabad, Telangana, by Union Minister for Commerce and Business Piyush Goyal. The newly established board goals to spice up turmeric exports to $1 billion by 2030, offering a significant thrust to the sector.
The ICRIER-Amway report highlights that regardless of India being the biggest producer, shopper, and exporter of turmeric globally, the nation faces important challenges, together with fluctuating costs, restricted market entry, and insufficient post-harvest infrastructure. The report famous that whereas the worldwide turmeric market was valued at $58.2 million in 2020 and is anticipated to develop at a CAGR of 16.1 per cent by 2028, India must make focused interventions to safe its management place within the worldwide market.
Addressing the launch occasion, Deepak Mishra, Director and Chief Govt of ICRIER, emphasised the necessity for worth addition to spice up turmeric exports. “The Ministry of Commerce and Business tasks that India’s turmeric exports will attain $1 billion by 2030. The federal government has additionally established the Nationwide Turmeric Board. On this context, our report makes focused suggestions on how India can strengthen its place as a world turmeric producer and exporter, and make extra value-addition at dwelling,” he stated.
The report’s lead creator, Arpita Mukherjee, defined the targets of the examine, stating, “The target of this report is to current the present tendencies and developments, with a give attention to the event and progress of turmeric and turmeric merchandise in India and to strengthen India’s place as a world turmeric manufacturing and export hub.”
Challenges in Provide Chain
The report identifies numerous challenges within the turmeric provide chain and presents suggestions to handle them. It emphasizes the significance of selling high-curcumin turmeric varieties that meet international high quality requirements. At the moment, India provides solely 10 per cent of the worldwide demand for turmeric with curcumin ranges above 5 per cent, which has decrease Most Residue Ranges (MRLs). The examine highlights the necessity for extra analysis and growth to enhance high-curcumin varieties and means that these varieties ought to be promoted on international platforms to extend India’s market share.
“India has greater than 30 kinds of turmeric and there may be scope for extra GI merchandise. Focus ought to be to safe GI in merchandise above 5 per cent curcumin,” the report acknowledged, underscoring the significance of leveraging Geographical Indication (GI) tags to guard and promote India’s turmeric varieties in worldwide markets.
The report additionally recommends offering subsidies for third-party natural certification to assist farmers safe higher costs. It suggests streamlining regulatory our bodies and signing mutual recognition agreements for regulatory cooperation to advertise exports.
Throughout his closing remarks, Amway India Managing Director Rajneesh Chopra expressed confidence within the report’s skill to drive progress within the turmeric sector. “The report ‘Making India the International Hub for Turmeric’ by ICRIER meticulously captures the insights of farmers, farmer producer organisations, firms, and policymakers, providing a complete evaluation of the present panorama and future alternatives within the turmeric business. By linking meals safety with diet safety and diversifying the usage of turmeric as a nutraceutical, this report can considerably contribute to growing India’s exports and reaching the federal government’s imaginative and prescient of constructing India a world hub for turmeric,” he stated.
India’s Potential
The report highlights India’s immense potential within the turmeric sector, noting that the nation cultivated turmeric on 297,460 hectares in 2023-24, with an anticipated manufacturing of 1,041,730 metric tonnes. The main turmeric-producing states embrace Maharashtra, Telangana, Karnataka, Tamil Nadu, Andhra Pradesh, and Odisha.
The report means that investments in scaling up Farmer Producer Organizations (FPOs) and selling data sharing via R&D and international partnerships shall be important in reaching this transformation. It additionally requires efforts to align manufacturing practices with international benchmarks and guarantee sustainable farming practices to strengthen India’s repute as a dependable provider of turmeric within the international market.
