During her Budget speech on Saturday, Finance Minister Nirmala Sitharaman proposed setting up a Makhana Board in Bihar for supporting the thriving Makhana, or foxnut, industry in the state. The news stirred renewed interest in what billionaire Nikhil Kamath said recently about the superfood. Kamath had written about the possibility of Makhana turning into a ₹6,000 crore industry in the near future.
Kamath’s Post on Makhana
On January 17, the Zerodha co-founder penned, “Perhaps room here to build a very large brand, an Indian brand that sells to the world. Personally, I’m hooked on Makhana.”
Maybe room here to build a really large brand, an Indian brand that sells to the world.
Personally, I’m hooked on Makhana. pic.twitter.com/eu5yK804Ny
— Nikhil Kamath (@nikhilkamathcio) January 17, 2025
In a long post detailing his experience with Makhana, Kamath said, “Makhana isn’t a very high-yield crop. First, you have to trek through thorny leaves & muddy ponds to gather seeds, then dry & manually pop the seeds under high heat.” He further added, “In all of this, much of the crop goes to waste. Of these, only around 2% of popped seeds are export-worthy. Only about 40% of the harvested seeds are eatable.” He added that whereas Makhana was once strictly grown in Bihar, it has also started growing in Assam, Manipur, West Bengal, Tripura, and Odisha.
Sitharaman’s Makhana Board Initiative
Sitharaman said during the Budget speech that there was the opportunity for consumption growth of Makhana. She added, “With rising income levels, the consumption in fruits is also increasing and remuneration for farmers will also increase in collaboration with states.” According to her, “There is a special opportunity in Bihar, the Makhana board will be established in the state. The board will provide training and support to Makhana farmers.” A national mission to promote high-yielding seeds will also be launched.
