India plans to grow the spice market to $10 billion by 2030

On the second day of the 14th World Spice Congress, held on September 16, Mr. Piyush Goyal, Minister of Commerce and Industry, Government of India, delivered a keynote address, in his address he 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. 

The 14th edition of the World Spice Congress was held at the CIDCO exhibition centre at Vashi, Navi Mumbai. The event was held after a hiatus of eight years, with the last event being held in 2015. It is a three-day event which began on Friday, September 15 and will conclude on Sunday, September 17. Mr. Goyal’s keynote was one of the main highlights of the event. 

Apart from delivering a keynote address, he also presented the Spices Export Excellence Awards for 2019-2020 and 2020-2021. The awards covered 18 categories, apart from the awards, certificates of merit for export of spices for 2017-2018 and 2018-2019 were handed out.

While speaking to the delegates at the event, Piyush Goyal said, “Considering India's current $4 billion export, the spices industry should target $10 billion by 2030.”

He added, “Spice unites India and the world. It reflects the rich cultural heritage of India. They resonate across the country. We have to bring back the old charm that Indian spices have across the world.”

Goyal further said, “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," 

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.”

He spoke about the spices from across the country which are the pride of India. The saffron from Kashmir, the black pepper from Kerala, the ginger from Gujarat, and chillies from Nagaland. He stated that the stories of Indian spices must be talked about across the world. Vasco Da Gama came to India and took our spices all over the world.

Goyal said, “Let’s see how our grandmother’s remedies become remedies of the world. We shout shoot to make India the preferred source of spices.”

He concluded by saying, “Let’s delight the world with the magic of spices and preserve them for the future generation. Let’s make Indian spices part of the palette of all people across the world.”

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 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 1,000 delegates from India and across the world. They come together to discuss the issues and opportunities within the worldwide spice trade.