India to be largest spices processing hub by 2017

India will be the world's largest spices procesing hub by 2017, according to V.J. Kurien, chairman, Spices Board.

Addressing a press conference here, Kurien said the board was making all-out efforts to achieve the goal, and a vision document being prepared by a team of experts  in the Spices Board will be finalised within three-four months.

India is currently handling 44% of the world's total spices business quantity-wise and 35% in value terms. More that 70% of the world's business in value-added spices is also being handled from India.

He clarified that the emergence of Vietnam as a processing centre would not be a serious threat to India as the country's major companies are cautious on the quality front. India exported value-added spices worth  Rs 2,100 crore in 2006-07 as per the estimates of the board.