How To Start A Spice Export Business In India Indian Spices are sought after all around the world for their superior quality and flavour. India’s climatic conditions, which feature tropical and subtropical weather patterns, make it perfect for cultivating practically all kinds of spices. In the past decade or so, several small landowners have switched to growing spices as they take up less space and provide better returns. As a result, India continues to be the world’s largest producer, creator, and exporter of spices delivering over 75 of the world’s 109 different spices. Hence, it is quite clear that the spice export business has a lot of scope in India.
Benefits of Starting a Spice Business in India • • • •
Indian spices are in remarkable demand and command high credibility within the international market The spice industry is a sustainable and economically viable option for raking in massive profits every year Further, spice exporters receive various subsidies that permit them to send samples of spices abroad at lower costs. Spice exporters also receive subsidies for creating promotional videos, brochures and other marketing campaigns.
Biggest Challenges Faced by the Spice Export Business in India 1. There is a high credit risk for distributors and mediators within the spice industry, which has made new investors apprehensive 2. Moreover, the absence of high-quality packers and labellers in the Indian spice industry has checked foreign buyers 3. Likewise, lack of access to high-tech machines has made expansion difficult for small-scale businesses 4. Cutthroat competition in the spice market has made it difficult for new players to enter the spice market.