Budget 2025: Nikhil Kamath saw a ₹6,000 crore future in Makhana. Nirmala Sitharaman just made it official

In a move aimed at revolutionizing Bihar’s dominant Makhana industry, Finance Minister Nirmala Sitharaman announced the formation of a dedicated Makhana Board in the Union Budget. The initiative seeks to boost production, streamline processing, enhance value addition, and strengthen marketing strategies—empowering farmers and entrepreneurs to tap into the superfood’s growing global demand.

Makhana, also known as fox nut, is gaining global recognition as a nutrient-rich superfood. While it has long held a place in Indian traditions, Bihar—responsible for 90% of the world’s Makhana production—is now witnessing a major industry shift.

Bihar’s flood-prone regions, once considered a farming challenge, have turned into an advantage, making Makhana a high-yield alternative to traditional crops. The introduction of ‘Sabour Makhana-1’, a new variety, has doubled yields and increased the edible seed ratio from 40% to 60%, boosting farmer incomes by nearly threefold compared to rice cultivation.

The nutritional appeal of Makhana has driven its market expansion. Rich in proteins, carbohydrates, and essential minerals like phosphorus and calcium, it is also low in fat and calories, making it a preferred choice for health-conscious consumers. Its benefits for heart health, diabetes control, and weight management have fueled rising global demand, with Makhana fetching prices as high as ₹13,000 per kg in international markets.

Despite its success, the industry faces significant challenges. Makhana harvesting remains labor-intensive, and strict export quality standards mean that only 2% of seeds currently meet global benchmarks. However, government subsidies, new processing techniques, and technological advancements are addressing these hurdles, making large-scale expansion feasible.

Entrepreneurs are capitalizing on Makhana’s momentum. Zerodha co-founder Nikhil Kamath highlighted the sector’s potential, saying, "Maybe room here to build a really large brand, an Indian brand that sells to the world. Personally, I’m hooked on Makhana."

Startups are leading this transformation:

• Mr. Makhana generates ₹50-60 lakh per month.
• Farmley secured $6.7 million in funding to scale operations.
• Shakti Sudha Makhana is projected to grow from ₹50 crore to ₹1,000 crore by 2024.

With the government’s new Makhana Board, these developments mark a turning point for India’s superfood industry, positioning Bihar as the global epicenter of Makhana production.