High overseas demand for Indian spices have pushed the India’s Spices exports to a new high of $4.72 billion during financial year 2024-25, up 6% from last year’s $4.46 billion.Indian spices are popular for their fragrance which is now spreading in the global market. India exports a large quantity of spices that has seen a significant rise in FY 2024-25. It’s worth to note that India is the largest producer, consumer and exporter of spices.
Chilli Dominates the Market
Chilli export value declined 11% to $1.34 billion in FY25 from $1.50 billion last year. Though the prices fall export volume grew 19% to 7.15 lakh tonnes. Another major category of mint or pudina -related products also saw a significant surge in exports.
$25 Billion Target
Govt. aims to achieve India’s spices exports of $10 billion by 2030 and $25 billion by 2047. Government is monitoring quality improvement and price stability to achieve spice exports of $10 billion by 2030 and $25 billion by 2047.