India Sets $1 Billion Turmeric Export Target by 2030 with New National Board

In a significant boost to India's turmeric industry, the government has set an ambitious target to export turmeric worth USD 1 billion by 2030. Union Home and Cooperation Minister Amit Shah made the announcement on Sunday at the inauguration of the National Turmeric Board's headquarters in Nizamabad, Telangana, an event that comes nearly two years after Prime Minister Narendra Modi initially proposed the concept. By reducing farmers' dependence on intermediaries, the new board promises to streamline processes related to packing, branding, marketing, and exports, with a special emphasis on the health benefits of turmeric as an anti-viral, anti-cancer, and anti-inflammatory substance.

India, being the world's largest producer, consumer, and exporter of turmeric, holds over 62 percent of the global trade. During the fiscal year 2023-24, the nation exported 1.62 lakh tonnes of turmeric valued at USD 226.5 million. The establishment of the National Turmeric Board is timely, aligning with a rising global awareness and demand for the spice following the COVID-19 pandemic. The board's objectives include increasing global consumption, promoting research into turmeric-derived products, and developing international markets while enhancing the skills and knowledge of turmeric farmers for added value.

With more than 30 varieties of turmeric growing across 20 states in India, the largest producers being Maharashtra, Telangana, Karnataka, and Tamil Nadu, this initiative is poised to leverage India's vast share in the global market. Prime Minister Modi emphasized the necessity of an organized approach to the entire value chain of turmeric production, from farm to export, asserting that this strategic move will safeguard turmeric's potential for global use and provide extensive benefits to farmers across the country.

(With inputs from agencies.)