India’s Turmeric Might Considered As Global Powerhouse

India holds an impressive position in the global turmeric market, accounting for 70% of world exports, with a 16% rise between 2017 and 2023. A recent study by the Indian Council for Research on International Economic Relations (ICRIER), in collaboration with Amway India Enterprises, highlighted that turmeric exports jumped from $182 million to $212 million during this period.

The ICRIER study, titled "Making India the Global Hub for Turmeric," explores the opportunities within India’s turmeric sector. It outlines a strategic plan designed to solidify India’s position as the top turmeric exporter worldwide.

Turmeric Production and Its Many Uses in India

India is not only the largest producer but also the biggest consumer and exporter of turmeric. The country supplies over 75% of the world’s turmeric, cultivating more than 30 varieties across 20 states. In the 2022-23 fiscal year, India produced a whopping 1.17 million tonnes of turmeric across 0.32 million hectares. This versatile spice is integral to multiple industries, including food, medicine, textiles, and cosmetics.

A Study of Indian Researcher

Professor Arpita Mukherjee, leading the ICRIER researcher, emphasized that while India has vast potential, much of it remains untapped. The study calls for an enhanced focus on value-added turmeric products to meet growing global demand, particularly in sectors like nutraceuticals, where turmeric is gaining momentum.

Health Benefits Drive Global Demand

The study highlights turmeric’s high curcumin content, which is known for its powerful antioxidant and anti-inflammatory properties. This has increased its popularity in health supplements and alternative medicine. However, India’s share in global exports fluctuated between 65% and 75% from 2017 to 2023, showing room for improvement.

Strategic Policy Recommendations for a Bright Future

ICRIER’s research offers policy suggestions to boost India’s standing in the market. The study draws on data from six major turmeric-growing states—Telangana, Tamil Nadu, Maharashtra, Meghalaya, Orissa, and Madhya Pradesh—and involved consultations with 374 stakeholders, including farmers, FPOs, manufacturers, and traders. These insights are set to inform best practices for production, marketing, and trade.

Conclusion: Strengthening India’s Turmeric in Market Leadership

That being so, this in-depth research present a clear path forward for India to reinforce its global leadership in production and exports. By implementing these suggested strategies, India can not only maintain but also expand its influence in the international market.





Click here to reach our trading platfrom CMBroker