by Suman Gupta
India to plan to grow the spice market to $10 billion by 2030
• The India-Middle East-Europe economic corridor is an opportunity to bring back the glory of the old spice route
Navi Mumbai, September 16, 2023: In his keynote address during the 14th World Spice Congress, Mr. Piyush Goyal, Minister of Commerce and Industry, Government of India, said India should organise the world’s largest exposition, conference, and symposium of the spice industry in Delhi in 2024 and invite exhibitors from competitor countries to see our capabilities in the spice industry and focus on value-added segment.
“Considering India’s current $4 billion export, the spices industry should target $10 billion by 2030. Spice unites India and the world. It reflects the rich cultural heritage of India. We should work to bring back the old charm of Indian spices. The theme for WSC 2023 is “VISION 2030: SPICES”, which encapsulates key pillars of Sustainability, Productivity, Innovation, Collaboration, Excellence, and Safety and should include exclusivity and inclusivity,” he added.
Emphasising India’s substantial growth in the spice industry, he stated, “It is time to celebrate the flavours of India and the versatility of Indian spices. We should capture world markets. We aim to become the most preferred source of spices for the rest of the world. The India-Middle East-Europe economic corridor inaugurated at the G20 is an opportunity to bring back the glory of the old spice route and capture the world spice market.”
The event also witnessed the presence of Mr. Amardeep Singh Bhatia, IAS, Additional Secretary, Gol & Chairman, Spices Board, Mr. Santosh Kumar Sarangi, IAS, Additional Secretary & Director General of Foreign Trade, Government of India, D Sathiyan, IFS, Secretary, Spices Board, Basisth Narayan Jha, Director (Marketing), Spice Board, industry professionals, producers, traders, processors, exporters and regulators worldwide. The attraction of the event is the experience zone. It is an innovative take on the exhibitions for the delegates and participants to get a holistic feel of spices related to the gustatory, olfactory, and visual senses. The zone, located at a prime location at the World Spice Congress, gives a hands-on experience to visitors in the universe of spices.
The inaugural function was followed by the launch of a book called ‘Spice Revolution – Promoting Value Addition in Global Spices Trade’ along with the product launch of ‘Onboarding of Flavourit Spices to Open Network for Digital Commerce (ONDC) in association with YES Bank’ and Launch of cardamom based nutraceutical capsules’ Recovereez Forte”, by Dr. Prashant Varkey, Zum Helen Diagnostic & Therapeutics Pvt Ltd.
Another highlight of the event was the Tech Talks by M/s. Flavourtech, Australia, Processing Machinery and M/s. Envirocare Lab on Laboratory Services. It provided a platform for the companies to spotlight the innovative products, brands and services related to the spice industry. This optional session was the ideal and unique way to showcase the ideas, products, services and solutions to a diverse and responsible audience.
A business discussion on Spices for colours, extracts, and emerging applications took place where each industry speaker covered topics. Dr. Varghese Jacob, Managing Director, Synthite Industries Ltd., shared his insights on Spices for colours, extracts, and emerging applications. Dr. Sushil Mansotra, Chief Marketing Officer, Mahashian Di Hatti Private Limited, New Delhi, spoke about Consumer Preferences and emerging Trends: Ground and blended spices. Spices for Health, wellness & nutraceuticals topic was covered by Dr. H. N Shivaprasad, Director, Global Business Development, Botanic Healthcare, Hyderabad. Mr. M. G. Prakash, Managing Director of International Flavours & Fragrances (IFF), Gurgaon, expressed his views on the Future of Food & Role of Spices in Food Design. Spice-based Seasonings & Sauces: Opportunities for growth subject was covered by Ms. Evangeline Francis, Head R&D, Symega Food Ingredients Limited. Prof. Dr. N.C. Saha, Former Director of IIP, Mumbai, gave information about Responsible Food Packaging and Emerging Trends.
The second day of the event concluded with a cookery show, which was an intriguing experience for the visitors. The 14th Congress edition brings together diverse participants, including policymakers, regulatory bodies, spice trade organisations, government representatives, and technical specialists from different nations. The event saw over 1000 delegates from India and across the world. They come together to discuss the issues and opportunities within the worldwide spice trade.
About WSC:World Spice Congress (WSC), the conglomeration of the global spice industry, has become the most apt platform to deliberate the concerns and considerations of the sector over its three decades long presence. Organized under the leadership of Spices Board, Ministry of Commerce and Industry, Government of India with support from various trade and export forums, the World Spice Congress provides opportunity to get to know the sector in a better way. Trade, sustainability, quality and food safety initiatives, recent developments, concerns and future prospects are discussed and deliberated in detail by the key players of the industry- the producers, traders, processors, exporters and regulators from across the world.
About Spice Board India:Spices Board (Ministry of Commerce and Industry, Government of India) is the flagship organization for the development and worldwide promotion of Indian spices. The Board is an international link between the Indian exporters and the importers abroad. The Board has been spearheading activities for excellence of Indian spices, involving every segment of the industry. The Board has made quality and hygiene the corner stones for its development and promotional strategies.
