Agarbathi industry's export revenue nears Rs.1000 crore mark in FY18

New Delhi [India], June 8 (Newsvoir): The Indian agarbathi industry has been growing for many years. It has touched revenues of INR 965 crore in FY 18 in exports, up from INR 798 crore in FY15.

The Gulf, Europe and Africa are the top three leading markets for Indian agarbathies.

The driving force for this growth has been an increased inclination in these regions towards meditation, which has made usage of agarbathi an important aspect of their daily lives.

Sarath Babu, President AIAMA, said, "Indian agarbathi industry is one of the most vibrant cottage industries that employees up to 20 Lakhs people in the country. In the past four years, agarbathi export industry has grown at a CAGR of 15 percent and is expected to grow exponentially and reach INR 12,000 crore in the next five years. The domestic market at present is pegged at INR 7000 crore with Tamil Nadu, Maharashtra, Karnataka, UP and West Bengal driving the major demand of agarbathi and its allied products in India."

In the Gulf region, there is an increased demand for strong fragrances like Oudh and Orientals, while in Europe preference is more towards fruity and mild fragrances like cinnamon, green apple and strawberry. On the other hand, Africa market too demands for stronger fragrances like lemongrass and citronella grass. In India, Sandalwood, Rose, Mogra, Champa and Jasmine continue to be the dominant consumer choice. (Newsvoir)

This story has not been edited. It has been published as provided by ANI