Madagascar's perfume industry growth and Indo‑Pakistani economic dominance

Madagascar’s unique botanical landscape, with 90 % of its plant species endemic, has become a laboratory for the perfume sector. Historically a French colonial testing ground, the island now hosts extensive ylang‑ylang, coffee, pepper and vanilla cultivation, supplying 80‑90 % of the world’s vanilla. Since 2006, Symrise Madagascar has partnered with local growers, distillers and nurseries, launching a diversification programme in 2016 that adds geranium leaf, cinnamon bark, lemongrass, vetiver and ginger rhizome to the perfume supply chain.

A small Indo‑Pakistani (Karana) community, often called Indo‑Pakistani, wields outsized influence over Madagascar’s economy. Despite its modest size, the group controls major commercial enterprises; Forbes 2015 listed three of the four largest Malagasy fortunes as Indian‑owned, including Axian, which reported US$2.75 billion in revenue and contributed US$1.87 billion to GDP in 2024. The community remains tightly knit and is viewed with suspicion by the broader population, a legacy of historic immigration dating from the 8th to 19th centuries.