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Trade Infrastructure for Export Scheme (TIES) - Important Key Points

Trade Infrastructure for Export Scheme (TIES) - Important Key Points for IBPS PO, SBI PO, SSC CGL, NICL AO, Bank of Baroda PO, Dena Bank PO, SBI Clerk

TRADE INFRASTRUCTURE FOR EXPORT SCHEME (TIES)

Essential for all Upcoming Competitive Exams

Introduction:
The Union Ministry of Commerce and Industry launched a new scheme “The Trade Infrastructure for Export Scheme (TIES)” on 15th March, 2017 to developing export linked infrastructure in states with a view to promoting outbound shipments. This scheme was inaugurated by Commerce and Industry Minister Smt. Nirmala Sitharaman. This scheme will come into power in the next financial year. It will replace a
similar initiative called Assistance to States for Infrastructure Development of Exports (ASIDE). The scheme covers infrastructure requirements of Land customs stations, Border Haats, cold chains, Quality Testing and certification labs, , dry ports, trade promotion centers, SEZs and ports/airports cargo termini, export warehousing and packaging etc.



Objectives:
  • To provide assistance for setting up and up-gradation of infrastructure projects with export linkages;
  • This scheme would focus on projects like last Mile Connectivity, Customs Checkpoints, integrated Check-posts and Border Haats.
  • Prolong export competition by bridging the gap in export infrastructure, which has not been addressed by any other scheme. 
Key Features:
  • Under this scheme, the government would not get into areas like road construction, power sub-stations or parking spaces.
  • The Central and State Agencies, including Export Promotion Councils, Commodities Boards, SEZ Authorities and Apex Trade Bodies recognized under the EXIM policy of Government of India; are eligible for financial support under this scheme.
  • The actualization agencies shall provide details of the financing tie-ups for the projects which will be deliberated before approval of the project. Distribution of funds shall be done after financial closure is achieved.
  • From April 1, 2017 this scheme to be implemented, would have a budgetary allocation of Rs. 600crore for three years with an annual outlay of Rs. 200crore.
  • Under this scheme, for north-eastern and the Himalayan region states, the centre will bear 80% of the cost.
  • The Central Government funding will be in the form of granted, normally not more than the equity being put in by the implementing agency or 50% of the total equity in the project. The grant in aid shall, normally, be subject to a ceiling of Rs. 20Crore for each infrastructure project.
  • Projects exposure of funds from bank financing will be promoted. It will not include recurring costs of land and operation and maintenance costs to be met through pay and use charges.
Overall Information:

Sl. No.
Fields
Information Data
            1.     
Name of the Scheme
“The Trade Infrastructure for Export Scheme (TIES)”
            2.     
Lunched On
15th March, 2017
            3.     
Lunched By
The Union Ministry of Commerce and Industry
            4.     
Inaugurated By
Commerce and Industry Minister Smt. Nirmala Sitharaman
            5.     
Aim of this scheme
To provide assistance for setting up and up-gradation of infrastructure projects with export linkages
            6.     
Budget Cost
Rs. 200crore
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