The Indian Agarbatti industry has been growing manifold since the past few years and it has touched revenue of Rs 965 Crore in FYI 18 in exports, up from Rs 798 Crore in FY 15. Gulf, Europe and Africa are the top three leading markets for Indian Agarbattis. The driving force for this growth has been an increased inclination in these regions towards meditation, which has made usage of Agarbatti an important aspect of their daily lives.
Despite the challenge of cheaper products from China, Taiwan and other South East Asian countries, India has managed to export over Rs 400 crore worth of incense sticks in 2016-17, which is almost 10 per cent of the global incense market in the world. The exports of incense sticks have also witnessed a jump of over 30 per cent from five years ago period. This is significant because the Made in India incense are competing with cheaper products from China and Taiwan among other South East Asian countries. Currently, India is exporting incense to USA, UK, UAE, Belgium, Brazil and Argentina among several other countries.
India accounts for over 70 per cent consumption of the world incense sticks market that is currently pegged at Rs 3,000 crore as part of the organized industry. Manthan Dhoop, MDPH and Rocket agarbatti are most important players in the Indian incense stick industry. Most interestingly this industry provides major employment opportunities to the women. This is a capital intensive industry and it was difficult to cope with 12% GST and hence the government has revised the GST to 5%.
The Rocket Agarbatty Company is a leading manufacturer, packager, marketer of incense sticks and perfumes in India. The company started in the year 1991, and entered into the highly competitive market with the objective, offering quality products in economic rates as compared to other manufacturing units. ROCKET is a national level agarbatty manufacturing company with it’s headquarter in Nagpur.