Historically, India has been known as the ‘home of spices’. According to the Ministry of Commerce and Industry of India, India is one of the largest producers of spices in the world with about 75 varieties out of the 109 listed by the International Organization for Standardization. Having an exquisite aroma, texture, taste and medicinal value, Indian spices are undoubtedly the most-sought after, at a global level.
Further, as per the analysis conducted by TSB, there is a disparity in the production of
spices across various states. The states with a lower production can unlock their full
potential by utilizing the favorable Indian climate as well as the resources available
without affecting their existing produce. Hence, leveraging the growth in this sector,
both domestically and through exports. There is also an immense scope of new
innovations and blends and thus, the need for a more focused approach towards
research and development.
Overall, the findings and analysis from this report help establish India as a continued leading producer of spices across the world for many more years to come as well as a motivation to deliver innovative, high quality solutions to the market in the long run.