Trade Infrastructure for Export Scheme (TIES)

Why in news?

• Financial assistance for a total of 40 export infrastructure projects has been approved since the implementation of Trade Infrastructure for Export Scheme (TIES) since 2017-18.

About Trade Infrastructure for Export Scheme (TIES):

• TIES aims to assist Central and State Government agencies (Commodities Boards, Export Promotion Councils, SEZ authorities etc.) in creating appropriate infrastructure for the growth of exports.
• It is implemented under Ministry of Commerce and Industry
• Under the scheme, financial assistance in the form of grants-in-aid is provided to Central/State Government owned agencies (or their Joint Ventures with major stake-holding by them).
• The scheme can be availed by States through their implementing agencies, for infrastructure projects with significant export linkages. These include Border Haats, Land customs stations, quality testing and certification labs, cold chains, trade promotion centres, etc.

Funding:

• The cost of projects will be equally shared by the Centre and the states in form of grant-in-aid.
• For projects located in north-eastern and the Himalayan region states, Centre may bear 80% of the cost.

PRACTICE QUESTION:

Consider the following statements: Trade Infrastructure for Export Scheme (TIES)

1. Both the central and state agencies are eligible for financial support under the scheme

2. The cost of projects will be shared by the Centre and the states

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

                         C

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