Government launches Trade Infrastructure for Export Scheme
The Union Ministry of Commerce & Industry has launched Trade Infrastructure for Export Scheme for developing export linked infrastructure in states with a view to promoting outbound shipments.
TIES seeks to bridge the critical infrastructure gap and provide forward and backward linkages to units engaged in trade activities.
About Trade Infrastructure for Export Scheme (TIES)
- Objective: Enhance export competitiveness by bridging the gap in export infrastructure, which has not been addressed by any other scheme.
- It would focus on projects like customs checkpoints, last mile connectivity, border haats and integrated check posts.
- Beneficiaries: All central and state agencies including Commodities Boards, Export Promotion Councils, SEZ authorities and Apex Trade Bodies recognised under EXIM policy of Central Government are eligible for financial support.
- Funding: The cost of projects will be equally shared by the Centre and the states in form of grant-in-aid. In normal cases centre will borne 50% of the total equity in the project.
- For projects located in north-eastern and the Himalayan region states, Centre may bear 80% of the cost.
- Funds from other sources: Projects leveraging of funds from bank financing will be promoted. It will not include recurring costs of land and operating & maintenance costs to be met through pay and use charges.
- Priority will be given to the projects involving significant contribution by the implementing agency and bank financing for achieving financial closure.
- Approval: An inter-ministerial empowered committee will sanction and monitor the projects. It will be headed by the commerce secretary.
Categories: India Current Affairs 2017