The DGFT vide Policy Circular No. 07/2023 dated December 21, 2023 clarified the applicability of minimum Value Addition as provided under para 4.09 (v) of FTP 2023, in case of spices.
Attention is drawn towards Para 4.09 (v) of Foreign Trade Policy 2023 which mandates 25% minimum value addition in the case of spices. It is clarified that the condition of minimum value addition of 25% in the case of spices is applicable only where both export as well as import items pertain to Chapter 9 of ITC HS Code.
The Policy Circular can be accessed at: https://a2z-bucket.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Policy-Circular-07.pdf