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Nirmala to launch TIES scheme for export infra tomorrow

Press Trust of India  |  New Delhi 

Commerce Minister will launch tomorrow a new scheme for creating export infrastructure in the states.

The Trade Infrastructure for Export Scheme (TIES) would primarily focus on projects like customs checkpoints, cold storages at ports and last mile connectivity, an official said.

Minister in the Budget announced a new central scheme TIES to develop export infrastructure in the states.

Unlike Assistance to States for Development of Export Infrastructure and Allied Activities (ASIDE) Scheme, which was funded by the Centre, the cost of projects under TIES would be equally shared between the Centre and the states.

However, for north-eastern and the Himalayan region states, the centre may bear 80 per cent of the cost.

The announced TIES as the ASIDE scheme was shifted to the states on the recommendations of the 14th Commission.

States have time and again raised issues that the export infrastructure should be looked after by the Centre.

Exporters face huge challenges in terms of infrastructure. Inadequate infrastructure increases their transactions costs, impacting competitiveness of goods in the global market.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 14 2017. 22:28 IST