Mission 2020: The Indian Cashew Exports

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Mission 2020 The Indian Cashew Exports
Cashew is considered as one of the vital sources
of nutrients which high calories and protein
content, making it the most demanded form of
natural supplements in the world. With such a
demand, India plays an important role in
supplying cashew to major countries in the world.
Though the Cashew Exports are doing a tremendous
job creation and giving employment to over
millions of people, there are several setbacks
and issues which the Indian Cashew Export has
faced during recent years such as the imposition
of import duties, high production cost, GST
issues, to name a few. The international market
for the cashew seems to be easy access to cater
to the needs of cashew to every country in the
world due to the presence of easy availability of
raw materials and cheap labour. Following the
major changes in the taxation policies and
subsidies, the Indian Cashew Exports are under
reforms, and the Mission 2020 will help a large
majority of small-scale cashew providers to
generate good incomes with better facility. The
Indian Cashew Exports at a glance The cashew
industry and the allied products of cashew is
promoted by The Cashew Export Promotion Council
of India, termed as CEPCI. Being one of the
oldest industries, the cashew industry is run by
cottage sectors. India is one of the largest
producers of raw cashew nut with the production
capacity of 7.8 lakh metric tonnes, and also the
largest consumer of cashew in the world. As per
the global reports, the Cashew Exports in the
year 2016-2017 was US 771, which account for the
22 of the Indian Cashew Exports with Vietnam as
the major exporter of cashew kernels in the
world. The cashew industry, being an important
sector in terms of GDP, it is cultivated in more
than 17 states of India which makes easy
availability of raw cashew ready for exports as
well as to cater the growing demands of cashew
and cashew kernels for the Indian population.
Above all, the Cashew Exports accounts for a 25
share in the world.
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Also, when it comes to the export of roasted and
salted cashew kernels, it saw a major decline in
its exports as in 2016-2017, it was Rs 440
million which has come to Rs 326.3 million with
the export of 11,422 metric tonnes.
b) Export Projections for 2020
Export of Cashew Kernels - Forecast Projections
140000
128322
120000
10S770
100000
B0000
MtM
60000
ForacM
40000
Projection
20000
sSgt
Year
Reasons for the Decline of Cashew
Exports Various factors and issues were the
reason behind the sudden downfall of the Indian
cashew in the international and national market,
which is also a major concern. The challenges
revolving around the cashew industries run by
small scale or cottage industry in nearly 17
states of India are discussed below 1. Import
Duty on Cashew and its Allied Products The
imposition of the 5 basic customs duty on the
cashew has made an adverse effect of the purchase
of raw materials which are used in the processing
of cashew and its allied products. The industry,
which was giving employment to over 1 million
people, has seen a sudden decline in its
production with the closure of more than 50
production units followed by other big losses. 2.
High Production Cost Lack of modern machinery
and the high cost of labour means higher
production cost, including the overhead cost,
which is another reason for the adverse
conditions a cashew industry is facing. 3.
SION Issues The SION norms for the cashew
suppliers for the export grades, which was 16
has been revised to 15.04 for the Cashew Exports
is not practically possible for the small-scale
industries which play a major role in the cashew
processing in the Indian market. 4. GST
Issues, a major concern One cannot deny the fact
that the sudden implementation of the GST has
made the worst impact on the Indian economy and a
major loss for the small, medium and large-scale
industries. These include blockage of funds, high
GST for the job works. Non-refund of GST paid on
the exports, to name a
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few. A crisp and clear GST solution for all is
needed to gain major achievement in the cashew
export business. 5. The advantage to Countries
like Vietnam Vietnam, being the largest supplier
of cashew and cashew kernels in the world gains
easy access to increase its production due to the
lack of facilities in the Indian Cashew Exports,
which is a setback to Indian economy on an
international level. Ways to Improve the
Structure of the Indian Cashew Export and the
Mission 2020 To regain the cashew market and
bounce back with more fruitful results in the
Cashew Exports, solid plans, and technology
enhancement is an easier way to generate more
income opportunities among small, medium or
cottage industry workers. Mission 2020 is about
to reach new heights for the growth of the cashew
and the exports of its allied products on an
international level with more profits as compared
to previous years. Plans to Achieve the Mission
2020 Target Promoting the Indian Cashew brand in
the international market. Modernisation and
better automation to achieve better
production. The Cashew Exports is expected to
increase over 1.20 lakh metric tonnes. We are
providing over 200 million-man days of employment
in the organised sector of the cashew processing
units. And the major plans to enhance the growth
of cashew by establishing various Export
Facilitation Centers and Regional Offices of
CEPCI. The mission 2020 of the cashew exports is
all about to make a better impact in the world of
cashew exports by providing the best quality of
salted and roasted cashews catering the needs of
people in the world. It will not only help to
generate more profits but also help India to
become the world's largest exporter of
top-quality cashew kernels. The Mission 2020 of
the Indian Cashew Exports is possible, and sudden
recommendation is needed to be implemented from
the export council to help facilitate the proper
and the easy availability of modernised process
and automation to foster the growth. Also,
withdrawing of the 5 basic customs duty will
make the availability of raw materials easily. If
you are looking forward to starting your cashew
export business in India, contact 91-9133050333,
we will help you start your import export
business from scratch.