With a view to promote the export of Indian spices and spice products all over the world, the Spices Board (“Board”), Ministry of Commerce & Industry, invites applications to avail the scheme for Promotion of Indian Spice Brands (Brand Promotion Scheme).
The scheme aims to assist exporters in penetration of Indian brands in identified overseas markets with clear mark of traceability and food safety. The Board proposes to provide interest free loan covering 100% of slotting/listing fee and promotion measures & 50% cost of the product development subject to a maximum of Rs.1.00 crore per exporter.
Exporters interested to avail the scheme may submit their applications in the prescribed form (attached) along with supporting documents to Shri P M Suresh Kumar, Director (Mktg), Spices Board, Palarivattom P O, Kochi – 682 025, by 4th January,2021.
Key Highlights:
1. Exporter of spices who have registered their brands with the Board are eligible to participate;
2. Such exporter:
a. may avail the assistance for promoting their brand in a maximum of five countries in three year period;
b. may qualify for assistance to export spices in institutional packs up to 25 kg and consumer packs of spices including curry / Masala powders and mixed ground spices up to 5 kg;
c. to present the proposal before the committee constituted by Secretary, Spices Board, who will evaluate and approve the proposal;
Note: The total amount approved will be released in three equal instalments at the beginning of each year, after evaluation and review by the committee.
d. shall provide a detailed report of the activities undertaken along with a progress report by the end of six months;
e. shall submit a statement on a yearly basis that the loan has been fully utilized for the sanctioned purpose along with expenditure statement, supporting documentary evidence for expenditure incurred/committed for the next phase, export statistics for the specified brands etc.
In the absence of proper documentary evidence and satisfactory report, Board shall reduce the instalments or discontinue the assistance.
For a detailed read, please refer to the attached Notice or click on the hyperlink provided below.
Source: Spices Board of India
