Subsidy for promotion of Indian spice brands abroad to registered spice exporters

Operated by
Ministry of Commerce & Industry - Spice Board, Central Government
Purpose 
To provide subsidy to registered spice exporters for promotion of Indian spice brands abroad
Probable duration
March 31, 2020

Eligibility

  •  All registered exporters of spices who have registered their brands with the Board and holding Spice House Certificate (SHC)/Indian Spices Logo/Organic Certification. 

  •  In case of units which do not have SHC, the exporters have to obtain SHC within one year from the date of approval of the proposal and/or as per the revised notification of SHC by Government, whichever is later, after which only the subsequent instalments of Assistance will be released.

Benefit Description

Export promotion scheme - Subsidy for promotion of Indian spice brands abroad for supporting registered spice exporters

Application process

  •  The exporter has to submit an application in the prescribed format along with copies of detailed company profile and proposal covering details of market promotion activities to be undertaken with cost break up in each segment separately.

  •  The exporter shall present the proposal in front of the expert committee constituted by the Spices Board for this purpose who will evaluate the proposal and recommend for approval.

    • Other Details

    Conditions if Any
    • An exporter can avail the assistance for promoting the given brand in a maximum of five countries in the plan period.
    • Total approved loan amount for the programme will be released in three equal instalments preferably at the beginning of financial year and based on achievement of pre?determined milestones.
    • Before the release of the loan, the exporter has to provide Bank Guarantee including interest in the prescribed format for 110% of the loan sanctioned on stamp paper worth Rs.100/?
    • The repayment of the loan shall be in equal annual instalments commencing from the fourth year and end in the eight year from the date of receipt of the first instalment of fund by the exporter.
    More Information
    Annexure Link: -
    Link: 
    # Kindly Refer Page no.6, Point no.4 of the following link: http://www.indianspices.com/sites/default/files/IDS%20GUIDELINES%20FINAL-2.pdf

    File: -