Andhra Pradesh - Visakhapatnam   

His business just blossomed

Santosh Patnaik

Karuturi Ramakrishna

VISAKHAPATNAM: India can mint millions of dollars in foreign exchange by tapping the huge demand abroad for flowers. But, the country will have to dole out sops like reduction in air-freight charges, says Karuturi Ramakrishna, a floriculturist of international fame.

"We come a poor third in floriculture export. Africa and Latin America occupy the first two slots. Our annual exports are in the range of Rs.500 crores to Rs. 600 crores as against Kenya's $1 billion and Ethiopia's $3 billion," Mr. Ramakrishna told The Hindu on Sunday.

Mr. Ramakrishna, who was featured by Time magazine, is the managing director of Karuturi Networks Limited Floritech, Bangalore. He has another unit near Addis Ababa in Ethiopia to explore the cut rose export potential there. He exported roses worth Rs.15 crores last year from Bangalore and expects a turnover of Rs.25 crores this year.

Africa scores

It takes $2.7 or so to export 1 kg flowers from India whereas for the same consignment from Africa, one needs to spend only $1.5. Hence, India can have the competitive edge once the freight charges are slashed, he says. But, appeals to the Ministries of Commerce and Agriculture for offering a package to flower exporters have fallen on deaf ears, he rues.

Hailing from Tanuku in West Godavari district, Mr. Ramakrishna did BE (mechanical engineering) from Bangalore University and MBA from Case Western Reserve University (US). Shunning family business, he preferred to export cut flowers.

As the president of Floriculture Exporters' Association for four years, he conceptualised an agri-produce marketing system for India by setting up an auction on the Dutch model in Bangalore in 1997.

Second largest

Mr. Ramakrishna, who was conferred honorary fellowship by Gitam Institute of Foreign Trade on Saturday, is setting up a joint venture with Ernst & Young in Africa. This will be the world's second largest cut flower production unit. He has already established a firm grip in exporting rose bushes to Europe for hobby gardening segment. After starting www.rosebazaar.com, he developed an online real time response auction, which turned a big hit. His exclusive ISP service is also listed on the Bombay Stock Exchange with a market cap of Rs. 60 crores.

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