Business News | Govt Releases Rs 206 Crore to States for Promotion of Exports Under TIES Scheme
Get latest articles and stories on Business at LatestLY. The central government has released Rs 206 crore to states for the promotion of exports under the Trade Infrastructure for Export Scheme (TIES) initiative, which was introduced in the financial year 2017-18, Minister of State for Commerce and Industry Anupriya Patel said on Friday.
New Delhi [India], July 22 (ANI): The central government has released Rs 206 crore to states for the promotion of exports under the Trade Infrastructure for Export Scheme (TIES) initiative, which was introduced in the financial year 2017-18, Minister of State for Commerce and Industry Anupriya Patel said on Friday.
The Department of Commerce, Government of India is implementing the Trade Infrastructure for Export Scheme (TIES) w.e.f. FY 2017-18 with the objective of assisting Central and State Government agencies in the creation of appropriate infrastructure for the growth of exports, Patel said in a written reply to a question in the Rajya Sabha.
Under the scheme, financial assistance in the form of grant-in-aid is provided to Central/State Government owned agencies (or their Joint Ventures with major stake-holding by them) for setting up or upgrading export infrastructure in States/UTs.
The scheme can be availed by States through their implementing agencies, for infrastructure projects with significant export linkages like Border Haats, Land customs stations, quality testing and certification labs, cold chains, trade promotion centres, export warehousing and packaging, SEZs and ports/airports cargo terminuses.
Under the TIES, financial assistance for 27 export infrastructure projects has been approved during FY 2019-20 to 2022-23 (till 19th July 2022), the minister said. The total approved amount stands at Rs 206.904 crore. (ANI)
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