Export Marketing of Medicinal Plants from India

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Questions and Answers

What percentage of global biodiversity in medicinal and aromatic plants do China and India represent?

30%

40% (correct)

50%

60%

What is the approximate value of the international market for medicinal and aromatic plants per year?

$40 billion

$70 billion

$60 billion (correct)

$50 billion

How many species of medicinal plants are involved in national and international trade from India?

500 species

3000 species

2000 species

880 species (correct)

Which organization is responsible for promoting the export of medicinal and aromatic plants in India?

CHEMEXCIL Signup and view all the answers

Which of the following countries is NOT listed as a major export market for Indian medicinal and aromatic plants?

India Signup and view all the answers

In which geographic locations in India are the majority of medicinal plants found?

Western and Eastern Ghats Signup and view all the answers

What was the export value of medicinal plants and herbal material from India during 2005-06?

Rs 550 crores Signup and view all the answers

What trend was observed in the export of aromatic plants and oils in 2005-06?

Increasing exports Signup and view all the answers

Which oil is among the major oil exports that have shown an increasing trend?

Patchouli Oil Signup and view all the answers

What was the highest revenue realization based on the content provided?

Isobgul husk Signup and view all the answers

What is the basic customs duty on MAP parts and extracts imported into India?

30% Signup and view all the answers

Which of the following is NOT an exception in the MAP import policy?

Ginger Signup and view all the answers

Which recommendation is suggested for improving the export strategy of medicinal plants?

Establish dedicated Export Promotion Zones Signup and view all the answers

What excise duty is charged on MAPs, parts, and extracts?

16% Signup and view all the answers

What is a key focus for the export strategy regarding medicinal plants in India?

Focus on finished medicinal products Signup and view all the answers

What role does the National Medicinal Plants Board (NMPB) play?

Promoting the growth of medicinal and aromatic plants Signup and view all the answers

What primary focus does the NMPB have concerning medicinal plants?

Development and sustainable use of medicinal plants Signup and view all the answers

What is one way in which India's Foreign Trade Policy (FTP) aims to promote exports?

Providing duty credit scrip equivalent to 5% of the f.o.b. value of exports Signup and view all the answers

Which of the following products is NOT included in the VKGUY scheme?

Agarwood Signup and view all the answers

What is the expected export turnover from the Agri-Export Zone in Kerala over five years?

Rs. 157 crores Signup and view all the answers

Which of the following plants is restricted under import policies due to CITES regulations?

Kuth root Signup and view all the answers

What is the investment amount envisaged for the Agri-Export Zone in Uttarakhand?

Rs. 18.81 crores Signup and view all the answers

What is one of the additional benefits offered by the VKGUY scheme for exporters?

Duty credit scrip benefits for eligible products Signup and view all the answers

What opportunity is recognized for India's medicinal and aromatic plants?

Further developing export potential Signup and view all the answers

Study Notes

Export Marketing of Medicinal and Aromatic Plants from India

Medicinal and aromatic plants have been used in India for over 10,000 years.
India has approximately 2000 native plant species with curative properties and 1300 with aroma and flavor.
India has a rich history of medicinal plant usage, with Ayurveda being a popular modern system.
Exim Bank study shows 880 medicinal plant species are involved in international and national trade (48 exported, 42 imported).
About 80% of the Indian population relies on indigenous medicines derived from plants.
India and China are major production centers for medicinal plants (over 40% of global biodiversity).
The international market for medicinal and aromatic plants is over US$60 billion annually and growing at 6% per year.
India has over 8000 medicinal plant species, with a large concentration in tropical forests.
Exports of medicinal and herbal material in 2005-2006 were Rs. 550 crores.
Exports of medicinal and aromatic plants in 2005-2006 saw a decline in items like Ginsang, Isobgol, Belladonna, Chirata, and Asafoetida.
Exports of Isobgol husk, neem seeds, neem leaves, vinca rosea, and senna leaves increased in 2005-2006.
Major export markets for medicinal/aromatic plants are West Asian countries (Saudi Arabia, UAE, Kuwait, Iran).

Export Marketing of MAPs from India: 2005-2006

Highest export revenue was from isobgul husk (Rs. 20767.27 lakhs).
Other high-revenue export items included cambodge extract, senna leaves/pads, sandal wood chips/dust, and belladonna extract.

Export and Import Policy for MAPs

Basic customs duty on import of MAP parts and extracts, oils into India is 30%.
Excise duty for MAPs is 16%.
Export incentives exist in the Vishesh Krishi and Gram Udyog Yojana (VKGUY) scheme.

Export Zones for Medicinal and Aromatic Plants

Two export zones for medicinal/ aromatic plants are proposed: one in Uttaranchal and Kerala.
Uttaranchal zone’s total investment is Rs. 18.81 Crores (private sector Rs. 9.05 Cr).
Kerala zone has a total investment of Rs. 26.24 Crores (private sector Rs. 8.51 Crores.).

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Description

Explore the fascinating world of medicinal and aromatic plants in India, a country with a rich history of their therapeutic use. This quiz delves into the market dynamics, including trade statistics and the global significance of India's botanical resources. Test your knowledge on the export potential and biodiversity of these valuable plants.