DAILY NEWS ANALYSIS

GS-III : Economic Issues Government policies and interventions

29 March, 2023
2 Min Read

Scheme for Trade Infrastructure for Export

The Trade Infrastructure for Export Program (TIES), launched by the Department of Commerce, Government of India, aims to provide the necessary infrastructure to support the expansion of exports.
What are the main government initiatives to encourage the growth of exports?

TIES System:

The TIES scheme offers financial assistance to central/state government-owned organisations or their joint ventures for infrastructure projects with substantial export ties.
Border Haats, Land Customs Stations, Labs for Quality Testing and Certification, Cold Chains, Trade Promotion Centers, Export Warehousing and Packaging, Special Economic Zones, and Ports/Airports Cargo Terminuses are all part of the infrastructure.

PM Gati Shakti National Master Plan (NMP):

The PM Gati Shakti NMP is a digital platform that combines geospatial data on the nation's infrastructure with planning portraits of several government ministries and departments.
This digital system supports data-driven decision-making for the coordinated implementation of infrastructure projects with the goal of lowering logistics costs and boosting the nation's economy.

Duty Drawback Scheme:

Customs tariffs on imported inputs and central excise taxes on domestic inputs used in the production of export goods are both refunded under the Duty Drawback Program.
This programme is run in accordance with the provisions of the Customs Act of 1962, as well as the 2017 Customs and Central Excise Taxes Drawback Regulations.

What are the obstacles to the expansion of Indian exports?

Increasing Protectionism and Deglobalization: As a result of the Russian-Ukrainian War and the disruption of the global political order, which has reduced India's export capacity, countries throughout the world are adopting protectionist trade policies.
Absence of Basic Infrastructure: When compared to other countries, India's manufacturing sector lacks appropriate production centres, internet capabilities, and affordable transportation, which is a major barrier to industries.
China spends 20% of its GDP on infrastructure development, compared to India's 4.3% annual expenditure. The budget for 2023–24 included Rs 10 lakh crore (3.3% of GDP) on infrastructure, a threefold increase from 2019.

The difficulty of uninterrupted power supply is another.

Source: PIB

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