Dubbing it green gold, Finance Minister Arun Jaitley has increased the allocation for the National Bamboo Mission by almost 90 times in the Union Budget 2018. India is the second largest producer of bamboo, after China, with an annual production of 3.23 million tonnes.
However, much of this green gold - more than one third - is either being lost or used for products with little long term value, like scaffolding.
Jaitley's focus is on the non-forested bamboo plantations, for which the government provides a subsidy of Rs 30,000 per hectare - going up to Rs 42,000 if drip irrigation method is used. Product promotion however, is expected to eat up a chunk of the allocation.
Most of India's bamboo crop is grown in the North East, Central and Southern India. Close to 30 per cent of bamboo is grown in the north eastern states.
Apart from the traditional uses of bamboo, for making handicraft items, furniture and baskets, the National Bamboo Mission will focus on its usage in making matchsticks, incense sticks, floor tiles and venetian blind slats.