India has rapidly emerged as a global banana export powerhouse, recording a staggering 355% growth in just five years. From a modest US$ 101 million in 2020, exports surged to US$ 359 million in 2024, making banana India’s top fruit export and placing the country among the world’s top 10 exporters. As global supply shifts and demand rises, India is now poised to target billion-dollar markets with the right strategy and infrastructure.
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India has shown remarkable growth in the export of bananas. In five years, the exports have grown by 350%, from US$ 101mn. in 2020 to US$ 3360mn. in 2024. If we look at the growth of the top 10 countries, India’s rate of growth has been the highest.
India overtook Mexico, Germany, Honduras, Dominica Republic, Ivory Coast and several other countries in the past five years to reach 10th position. Within a few years banana has become the most exported fruit from India whereas earlier it was a low ranking export.
India is now the world’s largest banana producer, with over 25% of global production. Over the past two decades, India has experienced a threefold increase in banana production, driven by state agricultural strategies and widespread adoption of tissue culture technology by farmers. According to the state agriculture department, banana output rose from 545,000 metric tons in 2004–05 to 1,968,000 metric tons in 2022–23, representing a 261% increase. Gujarat’s adoption of tissue culture plants, drip irrigation, and precision farming yielded 66 tons per hectare, double the national average.
There is strong demand for Indian bananas in its traditional markets of the Middle-East but if it has to leap to a billion dollar chase, it must focus on larger markets such as the European Union, United Kingdom, Russia and China. The European Union’s banana production for 2025 is forecast to decline by 16% according to the European Commission with the result that banana wholesale prices are rising. This opportunity should be exploited by India.
India should also leverage new technology for banana export to distant markets such as Russia and Central Asia. For storage purposes (Cavendish) bananas can be kept at +13,2°C up to approx. 28 days in regular packs and up to 40 days in ‘Banavac’ packaging. The Russian market for bananas is over $650 million and India sent its first cargo of 100 tonnes in 2024. Considering frosty relations between Ecuador and Russia over the Ukraine war, India should seek a major entry into this market.
With India-UK FTA ready for signature, India’s forthcoming FTA with Eurasian Economic Community which includes Russia and India’s FTA with EU in advanced negotiations, it should be possible to reach for the billion dollar club by 2030.
India should consider using Italian ports as a major entry point into the 200 million Central European markets. Compared to major ports such as Rotterdam and Antwerp which are used by South American imports, deployment of Italian ports will save at least 4 days in transit and with the growing markets of Germany and Poland only 24 hours by train from Italian ports, Indian bananas could reach major markets faster and in better condition. Ports like Genoa and Vado Ligure offer specialized terminals for handling perishable cargo, including temperature-controlled storage and reefer container handling.
I am confident with renewed strategic focus on banana export, we have the potential to reach US$ 1 billion by 2030.
Article authored by Suhayl Abidi, Research Advisor, Govt of Guj-AMA Centre of International Trade
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