commin gets 5 proposals under ties for export infrastructure
New Delhi, July 23 () A senior official said the Commerce Department had received five proposals from states such as Karnataka and Andhra Pradesh, according to its new plan to develop infrastructure for export promotion. The Minister for Industry and Commerce, simala Sitharaman, launched the export trade infrastructure plan on the 3 Th (TIES) • Provide financial assistance to bridge the infrastructure gap and provide forward and backward linkages to units. According to officials, these projects are already under- Main approval. Five executive agencies- Karnataka State Fisheries Development Co. , Ltd. KFDC); Vissvaraya Trade Promotion Center (VTPC), Bengaluru; Cochin SEZ; Airport Authority of India (AAI) Andhra Pradesh Medical Technology Development Zone (AMTZ). V k. Shetty, general manager of KFDC, said the company will modernize its marine export infrastructure at marine adi in Kumta Taluk, Karnataka state. \"We have been approved by the federal Department of Commerce and the state government. We will start the project soon. We will build a modern marine processing and export sector. \"We are going to invest 5 rupees and the center will also provide help for 5 rupees,\" Shetty told reporters . \". Similarly, Vietnam National Airlines also submitted a proposal to set up a coastal Cashew Research and Development Foundation in Kumta district, Karnataka. While Garmin SEZ plans to build a standard design plant, AAI will build an integrated freight station at Imphal International Airport. AMTZ submitted plans to establish electrical safety facilities, biological material testing facilities, 3D design and rapid prototyping facilities, and gamma radiation centers. Unlike assisting countries in the development of export infrastructure and related activities (ASIDE) The program is funded by the center and the states share equally the cost of the contact project. Central and national institutions, including the Export Promotion Commission, the commodity commission, the SAR authorities and the apex trading agency, are eligible for financial support under the scheme. Funds from the central government will be provided in the form of grants, usually no more than half of the equity invested by the executing agency or the total share capital of the project. The authorization committee, chaired by the Minister of Commerce, is considering funding proposals from executive agencies. The plan helps countries to participate in the promotion of export activities in the country.