Consider the following statements:

Statement-I: India is the largest producer and exporter of diverse varieties of spices in the world, commanding a quarter of the global spice market.

Statement-II: India’s share in the global seasoning market is nearly half of the total market.

Which one of the following is correct in respect of the above statements?

The correct answer is option 3.

In News

• Despite being the largest producer and exporter of spices, India’s share in the global seasoning market is only 0.7%, compared to China’s 12% and the U.S.’s 11%.

Key Points

• India is indeed the largest producer and exporter of spices, accounting for one-fourth of the global spice market, valued at $20 billion.
• India currently exports 1.5 million tonnes of spices worth $4.5 billion annually.
  • Hence, Statement-I is correct.
• However, India’s share in the global seasoning market is very low, only 0.7%, and not nearly half of the market as stated.
• The seasoning market is valued at $14 billion, and India lags far behind China and the U.S. in this segment.
  • Hence, Statement-II is incorrect.

Additional Information

• Only 48% of India’s spice exports are value-added products, while the rest are exported as whole spices.
• To achieve $10 billion in spice exports by 2030, India needs to increase its share in value-added spices to 70%.
• The North-Eastern region, Odisha, and Jharkhand are emerging as major spice-producing areas.
• Sustainability initiatives like integrated pest and water management, climate-resistant spice varieties, and quality control training are being promoted.