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Present Scenario of Indian Spice Industry and Its Trend in Production and Export
India is traditionally known as the spice bowl of the world. According to the Bureau of Indian Standards, about 63 spices are widely grown in our country. India has a worldwide reputation as the only country which produces almost all kinds of spices. These spices sector also play a significant role in the development of Indian economy. India is the number one country since 1961 in the production and processing of spices. The total production of spices is about 1063000 MT with the value of $ 1377339 billion. The present study attempts to analyze the situation of Indian spice industry. India is producing more than 4 million tones of spice and is exporting around 180 spice products in over 150 nations. The Indian spice sector has registered the rise by 26 percent in terms of dollar value. The total area under spices in India is 2.3 million hectares and the annual production of spices in our country is around 27 lakh tones, valued approximately at Rs. 13000 crore. The net share of Indian spices in world trade is about 35 percent. The Indian spice processing industry have the various problems like availability of standardized raw material, unscientific production method, negligence in training of personnel; obtaining finance, marketing problems etc. The Indian spice processing industry have bright future as agro processing units because India may be a big spice basket for majority of countries in the world as India is the largest producer and processor of spices.
Spices, Production, Export, India, Globalization
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