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World Floriculture Trade Is Expected To See Newer Dimensions : Exim Bank Study
Release of Exim Bank's publication on "Floriculture: A Sector Study" at the hands of H.E. Shri Shivraj Patil, Governor of Punjab and Administrator of UT of Chandigarh on March 24, 2010, during the inauguration function of Exim Bank's regional office at Chandigarh. Also present are: Shri Pranab Mukherjee, Minister of Finance, Government of India; Shri Pawan Kumar Bansal, Hon'ble Minister for Parliamentary Affairs and Water Resources, Government of India; Shri Manpreet Singh Badal, Hon'ble Minister of Finance, Government of Punjab; Smt. Ravneet Kaur, CMD, Exim Bank of India; and Shri N Shankar, Executive Director, Exim Bank of India.
Export-Import Bank of India (Exim Bank)'s publication on 'Floriculture: A Sector Study" was released at the hands of H.E. Shri Shivraj Patil, Governor, Punjab, and Administrator Chandigarh UT, on the occasion of inauguration of Exim Bank's regional office at Chandigarh on March 24, 2010; the office was inaugurated by Hon'ble Finance Minister of India, Shri Pranab Mukherjee.
Reviewing the performance of Indian floriculture industry, the study observed that global economic crisis has impacted the growth potential of the industry. The competition in the international arena has been increasing with the entry of new African countries in global floriculture trade. Further, a number of Asian neighbours, such as China, Nepal, Sri Lanka, and Pakistan, are also emerging as competitors in India's export markets. India's floriculture exports have also been diversifying, from traditional markets, such as EU and USA, to new markets in Asia Pacific, such as Japan, and Australia. Against such scenario, the study viewed that the potential for expansion of commercial floriculture in India, including production for domestic and export sales of cut flowers and plants, is unlimited provided the country expands the production of existing products as well as the product range.
The study has identified some of the areas in which market opportunities exist for Indian floriculture industry, viz., hi-tech cultivation and product diversification; tapping the global landscaping opportunities; floral arts / floral designing market; and catering to the global demand for custom-made products, dry flowers, foliage, flower seed production, flower extracts and essential oil, and natural dye.
The study observes that Indian floriculture industry has inherent strengths such as favourable geographical situation, soil and environment, labour costs, and the positive investment sentiments of Indian corporate players. Notwithstanding the current demand slowdown, the potential for expansion for the Indian floricultural industry, both in terms of export sales and in the domestic market, is unlimited, provided the industry adopts a concerted strategy for propelling the growth.
Strategies such as developing a state-of-the art Integrated Cold Chain; shifting to an Integrated Supply Chain Model by integrating small and medium scale growers into large-scale producers; developing the non-traditional production areas; diversifying and expanding product range; ensuring regular supply of quality inputs, such as planting material; developing and propagating varieties indigenously; and building up strong brand recognition for Indian cut flowers, through focused and innovative marketing concepts; may help position India advantageously in the global floriculture arena.
For further information, please contact
Mr. S. Prahalathan,
General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai-400005.
Telephone: (022) 2217 2301,
Fax: (022) 22180743.
E-mail:
prahalathan@eximbankindia.in
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