Government launches Trade Infrastructure for Export Scheme

Posted on:17 Mar 2017 09:51:37
Government launches Trade Infrastructure for Export Scheme
17 March 2017 Current Affairs: 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.

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.

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.

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.

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.

An inter-ministerial empowered committee will sanction and monitor the projects. It will be headed by the commerce secretary.

 
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.

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.

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.

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.

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.

An inter-ministerial empowered committee will sanction and monitor the projects. It will be headed by the commerce secretary.

 

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs 2018 October

18 OCTOBER
NEWS
17 OCTOBER
NEWS
16 OCTOBER
NEWS

Current Affairs 2018 September

30 SEPTEMBER
NEWS
29 SEPTEMBER
NEWS
28 SEPTEMBER
NEWS
27 SEPTEMBER
NEWS

Current Affairs 2018 August

31 AUGUST
NEWS
30 AUGUST
NEWS
29 AUGUST
NEWS
28 AUGUST
NEWS