Centre shifts bamboo to horticultural crop basket
KG NARENDRANATH
TIMES NEWS NETWORK[ SUNDAY, FEBRUARY 15, 2004 11:23:27 PM ]

NEW DELHI: The government has decided to include bamboo in the list of horticultural crops, in a move that would propel the broad-based development of all species of the grass. It would attract fresh investments as a plantation crop. The Union agricultural ministry, the nodal ministry for implementing the national mission on bamboo technology and trade development would shortly notify the change, according to official sources.

As per estimates, the domestic bamboo industry has a size of Rs 2,040 crore at present, while the market potential is around Rs 4,463 crore. It grows at a rate of 15-20% and is projected to be Rs 26,000 crore industry by ’15, given the comprehensive promotional schemes under national mission.

In addition, the commerce department, driven by an export-led growth strategy for the bamboo products/uses-led industry has approved a scheme for establishing warehousing facilities for exporters in importing countries. A project for establishing central warehousing system through a special purpose vehicle at Dallas has been incorporated into the market access development scheme of the ministry, the sources said.

Currently, the domestic bamboo products industry solely relies on the domestic market, while there is a huge and surging demand for its products in the US, the EU, Latin America as well as in Southeast Asian countries.