India’s Commerce and Industry Minister Nirmala Sitharaman has launched the Trade Infrastructure for Export Scheme (TIES) focused on addressing the needs of the exporters. “The focus is not just to create infrastructure but to make sure it is professionally run and sustained,” said the Minister while launching the scheme.
The Minister added that there will be an Empowered Committee to periodically review the progress of the approved projects in the Scheme and will take necessary steps to ensure achievement of the objectives of the Scheme.
She said the proposals of the implementing agencies for funding will be considered by an Inter-Ministerial Empowered Committee especially constituted for this Scheme to be chaired by the Commerce Secretary. While appraising the project, the justification including the intended benefit in terms of addressing the specific export bottlenecks would be evaluated.
“The scheme would provide assistance for setting up and up-gradation of infrastructure projects with overwhelming export linkages like the Border Haats, Land customs stations, quality testing and certification labs, cold chains, trade promotion centres, dry ports, export warehousing and packaging, SEZs and ports/airports cargo terminuses,” said Commerce Secretary Rita Teaotia.
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 implementing agencies shall provide details of the financing tie-ups for the projects which will be considered before approval of the project. Disbursement of funds shall be done after financial closure is achieved.