According to a study released by Assocham, India’s floriculture industry is likely to cross the Rs 8,000 Cr mark by 2015, industry body Assocham said today. At an annual growth rate of about 30%, and just 0.61% share in the global floriculture sector the industry in India is poised at about Rs 3,700 Cr and is expected to rise to 0.89% by 2015.

The global floriculture industry now at Rs 6 Lakh Cr is likely to cross Rs 8 lakh Cr mark by 2015 at an annual growth rate of 15% accoriding to the report. With a share of about 65%, the rose flower industry in India accounts for over Rs 2,400 Cr of the overall floriculture industry and rose accounts for 75% of the global floriculture industry.

Rising demand in urban centres as well as Tier II and Tier III cities is expected to spur demand for roses on Valentines Day as price of export quality cut rose is expected to quadruple from its current average ruling price of about Rs 15 to Rs 20 per stem, the report said. Growing demand for roses in cities like Ahmedabad, Chandigarh, Hyderabad, Surat, Kanpur, Lucknow and Patna is driving the high demand for roses in India

The Sample Survey involved interviewing more than 250 rose merchants, including cultivators, exporters, wholesale flower dealers and florists in Bangalore, Chennai, Delhi, Mumbai and Kolkata to understand the floriculture industry vis-a-vis rose flower business during Valentine’s week as India is also the world’s biggest rose grower.

Fall in the value of rupee against major currencies is the main reason behind this upsurge in demand for roses in international markets of Australia, Germany, Greece, Italy, New Zealand, Netherlands, the US, UK and other countries of Europe and the Middle East.