Govt. launches Rs 600 crore scheme for developing export infrastructure

Posted by Daily Shipping Times on 17-03-2017        Tweet

NEW DELHI: The Government launched a Rs 600-crore scheme - TIES - for developing export linked infrastructure in states with a view to promoting outbound shipments.

Launched by Commerce and Industry Minister Nirmala Sitharaman, the Trade Infrastructure for Export Scheme (TIES) seeks to bridge the infrastructure gap and provide forward and backward linkages to units engaged in trade activities.

The scheme, to be implemented from April 1, would have a budgetary allocation of Rs 600 crore for three years with an annual outlay of Rs 200 crore. Five per cent of the grant approved would be used for appraisal, review and monitoring. It will be implemented from 2017-18 till 2019-20.

Commerce Secretary Rita Teaotia said some of the biggest cost, the exporters tend to incur is on account of absence of dedicated infrastructure, whether it is testing or handling facilities or cold storages at ports.

"The idea of this scheme is to address those gaps in infrastructure which are not addressed by any other scheme.

It will help to ensure smoother movement of export cargo and also ensure quality standards and certification," Teaotia added.