Trade Promotion Scheme - Export of Spices

Trade Promotion Scheme

Trade Promotion Scheme

The Indian Government has initiated the “Trade Promotion Scheme” for the exporters under the Department of Export Development and Promotion of Spices. Under this scheme, it is proposed to grant financial assistance to the exporters/ research institutions for the effective brand promotion programmes and development of export business. This scheme intends to promote Indian Spice Brands and assist exporters in market development and market penetration. In this article, we look at the Trade Promotion Scheme in detail.

To know about Trade Infrastructure for Export Scheme

Eligibility Criteria

The exporters must satisfy the below following criteria to apply for the scheme.

  • In the case of assistance for sending business samples abroad, all registered exporters having Spice House Certificate (SHC), Spices Board Logo, Brand Registration with the Board or Organic Certification are eligible to apply for this scheme.
  • In the case of providing assistance for packaging development and bar coding, all the registered exporters are eligible for availing the assistance under the scheme.

Activities Assisted Under the Scheme

The below following are the activities supported for promoting spices and spice products which are assisted under the Trade Promotion Scheme are as follows:

  • Sending Business Samples Abroad
  • Printing Promotional Literature/ Brochures
  • Packaging Development and Bar Coding Registration
  • Providing assistance for these above components are essential for the development of export business, securing orders, more beneficial presentation of capabilities to the buyers and also to promote scientific/modern packaging for the retail market.

Scale of Assistance

  • Sending business samples abroad: To meet the cost of courier/air freight charges for sending the business samples to the buyers abroad, financial assistance up to Rs. 50,000/- per exporter per financial year is provided under the scheme. However, the sample of one consignment must not exceed 1 kg in the case of spice oil and oleoresin and for other spices and spice products, the sample must not exceed 10 kgs.
  • Printing promotional literature/ brochures: Financial assistance at 50% of the cost subject to a maximum of Rs. 2 lakhs per brochure and such assistance will be extended maximum twice per exporter during the plan period.
  • Packaging Development and Bar Coding Registration: Financial assistance will be to the tune of 50% of the cost of packaging development and barcoding registration subject to a ceiling of Rs.1 lakh per exporter per year.

Documents Required

The required documents must be furnished along with the application form are as follows:

  • Application in the prescribed form.

For Sending Business Samples Abroad:

  • Original of the courier waybill
  • Proof of Delivery (POD) and proof of payment
  • Proof of SHC/ Logo/ Organic Certification/ Brand Registration

For Printing Promotional Literatures/Brochures:

  • Promotional activity details along with the draft literature or brochure etc.
  • Copy of Logo/ SHC/ Organic Certification/ Brand Registration
  • Quotation for the design, consultancy, dummy, printing, paper (along with the sample), packing material etc.

For Packaging Development and Bar Coding Registration:

  • Details of barcoding registration/traceability standards
  • Test Certificate of packing material from IIP
  • Any other documents required in support of the application

Note: The Board would accord in principle approval to proceed with the work. However, in the case of payment of courier/ air freight charges, prior approval is not required.

Inspection/ Verification

On completion of the activity, the applicant has to submit the following documents to the Export Board:

  • Two copies of final versions of the printed literature/brochure/CD/video film/packages developed etc.
  • Proof of bills, vouchers and receipts (self-attested)
  • Proof of payment of the expenditure
  • Pre-stamped receipt for the eligible amount.
  • Expenditure statement/ record duly certified by the Chartered Accountant (CA)
  • On the receipt for the claims of the above activities and on satisfactory completion of the activity, the Board will consider providing the eligible assistance in aid to the exporter.

Release of Grant

Based on the completion of the activity and the verification report, the Board would refund the eligible assistance in aid to the exporter or to the nominated agency or any institution. In the case, if courier or air freight charges, the exporters can raise the claims for the payment on a quarterly basis and the bills relating to the last quarter of the financial year must be submitted before the specified before the date.

Other Related Guides

SIDBI Trader Finance Scheme (STFS) SIDBI Trader Finance Scheme (STFS) The Small Industries and Development Bank of India (SIDBI) is a developed financial institution which mainly focus...
Trade Promotion Council of India Trade Promotion Council of India Trade promotion council of India (TPCI) is the highest level of a trade organisation. It is also an organisation tha...
Assistance Scheme for Spices Export Assistance Scheme for Spices Export The Indian Government has initiated a subsidy scheme for the spice exporters and research institutions to underta...
Starting a Proprietorship in India Starting a Proprietorship in India A sole proprietorship is one of the oldest and most common forms of business in India. Proprietorships are busin...
Coffee Export Incentive Scheme Coffee Export Incentive Scheme The Coffee Board of India has launched the Export Incentive Scheme for Coffee to offer financial incentives and impr...

Post by Sinduja Shankar

IndiaFilings is India's largest online compliance services platform dedicated to helping people start and grow their business, at an affordable cost. We were started in 2014 with the mission of making it easier for Entrepreneurs to start their business. We have since helped start and operate tens of thousands of businesses by offering a range of business services. Our aim is to help the entrepreneur on the legal and regulatory requirements, and be a partner throughout the business lifecycle, offering support at every stage to ensure the business remains compliant and continually growing.