Indian Sesame Oil Consumption market is anticipated to grow at a CAGR of around 8% during the forecasted period 2017-18 to 2020-21, says RNCOS in its latest report.
The Sesame Oil India in India is experiencing a huge thrust in demand due to its extensive use amongst the health conscious people owing to its application in ayurvedic treatment, as a flavouring agent and as preservatives in pickles. Since, the country is the largest producer of sesame seeds in the world, Government of India along with respective state governments has initiated some programs for both manufacturers and farmers. These initiatives are proving to be the great support for the Indian Sesame Oil Consumption market and thus, it is expected to grow at a CAGR of around 8% during the forecasted period 2017-18 to 2020-21 to reach INR 51.2 Billion by 2020-21.
The report “Indian Sesame Oil Industry Outlook 2022” also highlights the government initiatives driving the sesame oil industry. Recently, government of India launched Price Support Scheme for farmers in Gujarat. Further, they also launched a financial support scheme in order to upgrade the technology and infrastructure of the manufacturing units for a 25% grant on plant machinery and technical civil work for general areas such as Gujarat for a maximum value of INR 5 Million.
Also, the Government of Gujarat recently launched National Agriculture Insurance Scheme in order to support the farmers during draught years, natural calamities, pest and diseases by stabilizing their income with an insurance cover. It separately provides a subsidy of 25% to a maximum of INR 5 Million for agro and food processing units in terms of expansion or upgradation.
Thus, these programmes and initiatives for farmers and sesame oil manufacturers will help the nation to adapt to upgraded technology, improved infrastructure and better quality products. Therefore, the above mentioned factors are a huge asset for the growth of India Sesame Oil industry.
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