Spices board and agricultural insurance company of india - Latest News Update, Information, Photos & Videos on Spices board and agricultural insurance company of india at Lokmat Times

Union Commerce and Industry Minister Piyush Goyal on Saturday called upon the spices industry to double the sector exports to USD 10 billion in the next five years."We now aspire to meet our ambitious target for spices export - USD 10 billion not by 2030, but maybe even faster. Can we aspire to reach it in the next five years? Let us aspire to double our exports to $10 billion in the next five years, by 2027 and then further double our exports by USD 10 billion in the next five years," Goyal said at the 35th anniversary function of the Spices Board.He expressed satisfaction over the spices exports having increased by 115 per cent in volume and 84 per cent in value (USD) between 2014-21, reaching a historic high of USD 4.2 billion in 2020-21.The minister, who addressed the event through video-conferencing, said Indian spices and spices products are reaching over 180 destinations all over the world."During COVID, along with India's medicines and vaccines, the world experienced the importance of our spices and 'kadha'. Our grandmother's home remedies like haldi doodh/turmeric latte and spices like cinnamon, Tulsi (Basil leaves), etc became a household staple in the world. In fact, India recorded a growth of 42 per cent in turmeric exports last year," Goyal said, according to an official release.The minister said though India is a leader in the global spice, the sector is facing challenges too."When it comes to export of spices in whole raw form, we do not currently enjoy cost advantage against many countries in Asia and Africa regions, which means we should focus on increasing the export of value-added spices products. Also, we face challenges in preparing our production system and manufacturing systems to meet the stringent quality and food safety standards," he said.Goyal said the government is keen to increase export of spices from the country through resilient and efficient programmes and interventions.During the event, Goyal launched the innovative weather-based crop insurance scheme, a joint initiative of the Spices Board and Agricultural Insurance Company of India for the benefit of cardamom farmers. He also released the postal stamp to mark the Coral Jubilee of Spices Board.The minister urged the Board to expand the reach of the quality testing laboratory network to all regions in India and adhere to the highest standards so as to make a name for quality and efficiency of service.He called upon the spices industry to obtain GI tag for their distinct products."Twenty-six Indian spices have received GI like Coorg Green Cardamom, Mizo Ginger, Kanniyakumari Cloves etc., we should capture more such possibilities for traditional Indian produce," he said.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Spices Board And Agricultural Insurance Company Of IndiaFOLLOW

Spices board and agricultural insurance company of india, Latest News

National :Piyush Goyal calls for doubling spice sector exports to USD 10 billion in next 5 years

Union Commerce and Industry Minister Piyush Goyal on Saturday called upon the spices industry to double the sector exports to USD 10 billion in the next five years. ...