Domestic Floricuture Potential 10,000 crores

[rgiridhar]

New Delhi, Sep 6 Finanacial Express

India’s domestic flower and plant market which is currently valued at over Rs 1000 crore has the potentiality to grow to Rs 10,000 crore in the next five years, according to a study conducted by Media Today group in collaboration with Indian Flowers and Ornamental Plants Welfare Association (iFlora). Floriculture exports are steadily on the rise from Rs 256 crore in 2003-04 to over Rs 400 crore in 2006-07 (data available till November 2006).

Speaking to FE, iFlora president, S Jafar Naqvi said, “The government has taken some encouraging steps to boost the floriculture industry in the country. The National Horticulture Mission has been allocated Rs 1,150 crore budgetary support for promotion of horticulture, including floriculture. But much needs to be done to expand the domestic market for floriculture.” He said that the study concluded that if the domestic market size increases to Rs 10,000 crore, it would provide millions of job, particularly to women.

Naqvi said that domestic demand for cut flowers and other floriculture products would increase with the expansion of organised retail and super market chains, coupled with the rising income of the middle class. “If the domestic players miss this opportunity, India may be flooded with imported floriculture products,” he said.

Currently, the domestic consumption of cut flowers is growing at the rate of 30%, according to the study.