New Delhi, May 2 -- Intensifying regulatory scrutiny over quality issues has put nearly USD 700 million worth of Indian spice exports to critical markets at risk, according to a report by the Global Trade Research Initiative (GTRI) released on Wednesday.
The United States, Hong Kong, Singapore, Australia, and the Maldives have raised red flags about the quality of spices supplied by leading Indian firms MDH and Everest Group.
These concerns put India's spice exports worth approximately USD 692.5 million in the fiscal year 2023-24 to these nations under the scanner.
The GTRI report warns that if China and other ASEAN countries follow suit, influenced by the actions of Hong Kong and Singapore, it could impact a staggering 51.1 per cent ...