Floriculture industry to cross the Rs 8,000-crore mark by 2015, study

Floriculture industry to cross the Rs 8,000-crore mark by 2015, studyAccording to a new study, the floriculture industry in India is likely to cross the mark of Rs 8,000-crore mark by 2015 after recording strong growth in the recent years.

The industry has recorded an annual growth rate (CAGR) of about 30 per cent and is estimated to be worth about Rs 3,700 crore. However, the industry only has a 0.61 per cent share in the global floriculture industry.

The report from Assocham titled, "Indian Floriculture Industry: The Way Ahead" said that the country's share is expected to rise to the level of 0.89 per cent by 2015. The report said that the global floriculture industry is likely to cross Rs. 9 lakh crore mark by 2015 from about Rs. 6 lakh crore at present.

The global floriculture industry is growing at a CAGR of 15 per cent. Rose flower industry accounts for 65 per cent and generates more than Rs 2,400 crore. On the global level, rose accounts for 75 per cent of the overall floriculture industry.

The report is based on a survey of 250 rose merchants, including cultivators, exporters, wholesale flower dealers and florists in Bangalore, Chennai, Delhi, Mumbai and Pune.