KVIC launched Sandalwood and Bamboo plantation to stir up monetization of its assets

Khadi and Village Industries Commission (KVIC) launched Sandalwood and Bamboo plantation to spur monetization of its assets.
The first of its kind initiative began with a drive with plantation of 500 saplings each of sandalwood and bamboo at its Nashik training center spread over 262 acres of land.
The plantation ceremony was launched through video-conference by KVIC Chairman Vinai Kumar Saxena.
KVIC has procured sandalwood saplings from Fragrance and Flavour Development Centre (FFDC) Kannauj, Uttar Pradesh, and Bamboo saplings from Assam.
The plantation of the Sandalwood was aimed to create an asset for the KVIC.
It has been estimated to fetch between Rs.50 crore to Rs.60 crore in the next 10 to 15 years.
A sandalwood tree matures in 10-15 years and as per the current rate, sells at Rs.10 lakh to Rs.12 lakh each.
Sandalwood trees have high potential in the export market. Sandalwood and its oil have high demand in many countries like China, Japan, Taiwan, Australia, and the US.
This will create a great opportunity for India to increase sandalwood plantation and occupy the position of a global leader in sandalwood production.
Also, a special variety of bamboo, Bambusa Tulda, was brought from Assam and planted in Maharashtra. This kind of bamboo is used for making Agarbatti sticks. The aim is to support the local Agarbatti industry and to create regular income for the training center.