Spices scheme of Rs 670 crore to continue till FY17

NEW DELHI: The government approved the continuation of Rs 670 crore scheme for spices during the 12th Five Year Plan (2012-17).

It is expected to push up spices exports to $3 billion by March, 2017.

The decision was taken by the Cabinet Committee of Economic Affairs (CCEA). The projected outlay of the scheme is Rs 670 crore for the Plan period, an official statement said.

"The CCEA has approved the proposal of the Department of Commerce for continuation of central sector scheme for export oriented production, export development and promotion of spices of Spices Board in the 12th Plan period with some modifications as recommended by the Expenditure Finance Committee," it said.

The scheme aims to enhance spices export by building processing capabilities, expansion of markets, increasing production and productivity of cardamom, modernising spice cultivation and post-harvest operations.

"This will attract youth to spices cultivation, promote organic cultivation, address food safety concerns of importing countries, market and productivity driven research, skill development, transfer of technology etc," it added.

India mainly exports mint products, chilli, pepper and spice oils and oleoresins.