India is the world largest producer and exporter of spices. Hence, India is called as a “Land of Spices”. There are many opportunities in the spice business in India. China and The United states of America are the top export makers of the Indian Spices. The spice of India has different schemes to elevate the level of Indian spices.
The Spice Board of India was established on February 26, 1987 under the Spices Board Act 1986. The spice board serves as a link between the exporters in India and the importers in abroad. There are totally five commodity boards functioning under the Ministry of Commerce & Industry and the Spice Board is one among them. The Spice Board is totally responsible for the production and exportation of Indian spices.
The registered spice exporter who have Brand Registration certificate with the Spice Board can get up to Rs.50,000 for sending the spices to abroad.Printing Promotional Material
Under this scheme the registered exporter who have a Logo, Brand Registration Certificate with the Spice Board can get maximum of Rs.2 lakh per promotional material. The promotional material can be literature, brochures, or even videos.Indian Spice Brand Promotion to Abroad
Under this scheme the registered exporter who have a Logo, Brand Registration Certificate with the Spice Board can get maximum of Rs.2.50 crore per brand. They also get an interest free loan up to 100% for promotional measures and slotting and 50% for product development.Spices Processing in North-Eastern Region
The allocation under this scheme is allotted only to the farmer’s associations, spice grower’s cooperatives, and spices growers representing the NGOs, and the individual entrepreneurs from North-Eastern regions. They get 33% of cost for all types of primary processing facilities for a maximum of Rs.25 lakh . The farmer’s group will get 50% of cost for all types of primary processing facilities for a maximum of Rs.35 lakh.International Trade Fairs and Meetings Participation
The exporters who participate in the international trade fairs will get 50% of the airfare and 50% of cost of maximum of Rs.1 lakh for hiring an independent stall. Further, 50% of the airfare and Rs.1 lakh per year for the exporter will be given for the participation in the international seminars and delegations.
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