Horticulture industry demands reduction in GST to 12% from 18%

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Horticulture industry demands reduction in GST to 12% from 18%

There could never a better time to stay invested in floriculture than now as this industry is geared for an all-round boost in terms of healthy exports, innovations and most importantly employment generation. PUNE: Commercial floriculture exports are growing at 20% per annum, despite hurdles like currency fluctuations, the industry has demanded reduction in GST on greenhouse materials from 18% to 12%. The 13th International Flora Expo 2018 will be held from 23-25 February at Pimpri near Pune. According g to industry leaders floriculture promises to be a Sunrise industry with Good growth prospects for Exports, Innovations and Employment. There could never a better time to stay invested in floriculture than now as this industry is geared for an all-round boost in terms of healthy exports, innovations and most importantly employment generation. S Jafar Naqvi, President, iFlora (Indian Flowers and Ornamental Plants Welfare Association) said, “The Domestic flower trade has seen a huge upswing both in terms of volumes and value over the past decade, owing to cultural and seasonal factors, floriculture has turned into one of the vital commercial trades in Agriculture. Commercial floriculture in India is now viewed as a high growth industry particularly under protected environment of Greenhouses. On the Exports front, it has been steadily growing over 20% annually (barring year 2005-2006). The country has exported 22,000 MT of floriculture products worth of Rs. 547 crore ($ 82 m) in 2016-17. Major export destinations were United States, Germany, United Kingdom, Netherlands and United Arab Emirates etc. Detailing further Mr Jafar said, “As the industry is opening up, we witness a large scale Diversification coming up for flower growers and Nurserymen as also new and vivid options for Dairymen and Food Processing Units. The co-located events will provide never-before insight and Dairymen producing organic fertilizers may now explore very important segment i.e. Organic Flowers that command Premium in World Markets. Vertical Farming, a relatively new aspect of Floriculture too is booming adequately with the emerging times. Production has reached 2.23 m MTs in 2016 with loose flowers accounting for 69% share. In India flowers are used on every occasion ranging from birth to religious festivities, offering worship, marriages, functions, ceremonies etc., hence it holds a key to a good business.” The floriculture industry in the country too has attained magnitude of around Rs 9000 Cr (Euros 1.177 bn) and is marching on a growth path maintaining a steady CAGR of approximately 25% for the last five years. It is expected to attain a size of Rs 10,000 Cr, as per industry estimates. Another new opportunity that has emerged is the Readymade plants and Ready-made Bouquet business which will catapult into creating large scale employment potential. A unique opportunity for women has come up in Horticulture as this subject connects directly with emotions. Currently, many women farmers have very successfully transformed their traditional business into flourishing floriculture enterprise. Additionally, Floriculture with its allied fields, such as Cultivation, Tissue Culture, Harvesting, Packaging, Transport and Floristry are some key […]