Bihar’s Makhana may create a billion-dollar industry: Zerodha co-founder Nikhil Kamath
Over the past decade, the Makhana industry has witnessed remarkable growth, with production tripling during this period. However, the sector faces several challenges, including the labor-intensive nature of harvesting and strict export quality standards.
Makhana, commonly known as foxnut, is rapidly gaining recognition as a global superfood with immense potential. Deeply embedded in Indian traditions, this nutrient-rich crop is primarily cultivated in Bihar, which accounts for 90% of the world’s production. As Makhana transcends its cultural roots, it is emerging as a thriving industry with promising opportunities.
Zerodha co-founder Nikhil Kamath expressed enthusiasm for Makhana’s growing popularity, stating on X, “Maybe room here to build a really large brand, an Indian brand that sells to the world. Personally, I’m hooked on Makhana.”
The flood-prone regions of Bihar have become a boon for Makhana cultivation, with farmers earning three times more than they would from rice. The plant thrives naturally in water bodies, and advancements such as the ‘Sabour Makhana-1’ variety have significantly increased productivity. This innovative strain has doubled yields and improved the edible seed ratio from 40% to 60%, transforming Makhana into a vital income source for thousands of farmers.
Over the past decade, the Makhana industry has witnessed remarkable growth, with production tripling during this period. However, the sector faces several challenges, including the labor-intensive nature of harvesting and strict export quality standards. Currently, only 2% of Makhana seeds meet global benchmarks. Despite these hurdles, government subsidies and technological innovations have reduced risks, encouraging further expansion.
Health Benefits Of Makhana
Makhana’s nutritional profile is a key driver of its popularity. Rich in carbohydrates, protein, and essential minerals such as phosphorus and calcium, it is low in fat and calories. These qualities make it highly appealing to health-conscious consumers. Additionally, its benefits for heart health, diabetes management, and weight control have spurred a surge in global demand, with prices reaching up to Rs 13,000 per kilogram in international markets.
Nikhil Kamath also highlighted data showcasing the entrepreneurial momentum surrounding Makhana. Startups are capitalizing on its potential, with Mr. Makhana generating monthly revenues of Rs 50-60 lakh, Farmley securing $6.7 million in funding, and Shakti Sudha Makhana aiming to expand from Rs 50 crore to Rs 1000 crore by 2024. These companies are redefining Makhana’s image, positioning it as more than just a snack and emphasizing its potential as a premium global product.
The Makhana industry’s evolution underscores its significance not only as a superfood but also as a transformative economic force. With increasing global demand, continuous innovation, and entrepreneurial initiatives, Makhana is poised to become a flagship Indian export, bridging the gap between tradition and modernity while supporting sustainable livelihoods for countless farmers.
(Source: The Economic Times)
