Indian Govt. launches Trade Infrastructure for Export Scheme | Policy News India
Home » News » Policy News » Indian Govt Launches Trade Infrastructure For Export Scheme

Indian Govt. launches Trade Infrastructure for Export Scheme

Share: 
      Newsletter

READ MORE ON Government SupportPolicy News IndiaTIES

Nirmala Sitharaman

Image Courtesy: youtube.com

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.

Also ReadIndian Commerce & Industry Minister introduces FDDI Bill, 2017 in Parliament

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.

 

Have some news? Let us know on news@apparelresources.com

Comments are closed.

Recommended by Apparel Resources

Textile industry clueless on draft of UP Textile Policy ’17

Draft of Textile, Handicrafts and Sericulture Policy 2017 has recently been approved by the Yogi Adityanath-led State Government in Uttar Pradesh, India. The draft is however not available in public...

Indian knitwear industry likely to get ‘special package’ soon

Indian knitwear industry might get to hear good news in around two months’ time as the Government is likely to announce a package...

India ratifies two ILO conventions on child labour

The Union Cabinet chaired by Prime Minister Narendra Modi gave formal consent to two core conventions of International Labour Organisation (ILO) on child...

Gorakhpur (India) to get Silk Research Centre

Gorakhpur city in Indian state of Uttar Pradesh is expected to get maiden Silk Research Centre. If becomes reality, it will be helpful...

UP (India) Govt. approves draft on textile policy

UP Textile, Handicrafts and Sericulture Policy 2017 has been approved by the Yogi Adityanath-led State Government in Uttar Pradesh, India. He also gave...

Telangana (India) Govt. allocates Rs. 1,200 crore for textile industry

Rs. 1,200 crore has been allocated by the Telangana (India) Government to the textile sector for FY 2017-18. Of the total budget, Rs....

TEA urges GST Council to cut tax rate on apparel job work

After the reduction of GST rate for textile job work from 18 per cent to 5 per cent, Tirupur Exporters' Association (TEA) thanked...

GST: Jharkhand garment traders demand exclusion

Garment traders in Indian state of Jharkhand have called up for a statewide protest against a 5 per cent Goods and Services Tax...

SIMA hails GST rate cut on textile job work

M. Senthilkumar, Chairman, The Southern India Mills’ Association (SIMA) has appreciated the GST Council’s move to slash the service tax on textile job...

GST Council slashes rate on textile job work

In a major relief for textiles and apparel manufacturers, the Goods and Services Tax (GST) Council announced a sharp cut in rates on the merchant services at 5...