The present study is an attempt to evaluate the growth and instability of major spices. For the present study five major spices of India namely chilli, pepper, cumin, turmeric and coriander were chosen purposively because these five spices, account for 77.9 per cent of area and 64 per cent of production of total spices. The data on the selected spices were collected for the period 1985-86 to 2006-2007, and this period was divided in to two sub-periods. The first period is from 1985-86 to 1996-97 (pre-WTO) and second period is from 1997-98 to 2006-07 (post-WTO). Export of Indian spices during pre-WTO (1985-86 to 1996-97) and post-WTO (1997-98 to 2006-07) periods indicated positive compound growth rates in both export quantity and value during both the periods, except for pepper which showed decreased and negative growth rate both in export quantity and value terms. . Instability was high in terms of export value than the export quantity and these instability values were high in pre-WTO period compared to post-WTO period for the spices chilli, turmeric, and coriander. However, in case of pepper and cumin a reverse trend was found.