Sitharaman calls for developing capabilities, legal systems for intl arbitration centre for maritime sector

3 years ago

Indian Finance Minister Nirmala Sitharaman has called for the development of an international arbitration centre for the maritime sector. Sitharaman highlighted the need to improve capabilities and legal systems to meet global standards and enable Indians to lead cases rather than simply assisting senior lawyers in centres like London, Singapore, and Dubai.

FTA with UK gathers steam, committee of secretaries reviews pact

3 years ago

The pact will have 26 chapters. Product-specific rules, value addition, change in the chapter heading, and certification are being discussed in the rules of origin chapter, where an in-principle agreement has been reached.

Maharashtra to ban export of molasses in 2023-24 to ensure supplies for alcohol and ethanol

3 years ago

The Maharashtra government has decided to ban the export of molasses, a raw material used for manufacturing alcohol, in the upcoming sugarcane crushing season. This move is expected to impact the state’s revenue as well as the production of ethanol, which is essential for the country’s ethanol blending program.

JM Baxi Group promoter moves HC over stake buy in arm by Hapag-Lloyd

3 years ago

Vir Kotak, a promoter of JM Baxi Group, has approached the Bombay High Court to intervene in the acquisition of JM Baxi Ports & Logistics by Hapag-Lloyd AG. Kotak claims that the transaction was initiated without his knowledge and has led to the alienation of his rights. The case has been adjourned to November 8.

Transhipment hubs, green shipping on government priority list: TK Ramachandran, secretary , ministry of ports, shipping and waterways

3 years ago

The Indian government has identified the establishment of a transhipment port at Galathea Bay and a mega port at Vadhavan as priority areas for the ministry of ports, shipping, and waterways. The government also aims to increase cargo transportation on inland waterways and coastal shipping. Additionally, plans for green shipping include technological advancements, availability of […]

India to allow export of non-basmati white rice to some countries

3 years ago

India will allow exports of non-basmati white rice to Nepal, Cameroon, Malaysia, Philippines, Seychelles, Ivory Coast and the Republic of Guinea, a government notification showed on Wednesday.

Indian govt extends restriction on sugar exports beyond Oct 31

3 years ago

India has extended the restriction on the export of all varieties of sugar beyond October 31. The restriction does not apply to sugar being exported to the EU and the US under specific quotas. India, the second-largest sugar exporter, wants to ensure sufficient availability of sugar for domestic consumption. The country’s sugar production is expected […]

No decision yet on India joining trade pillar of IPEF: Official

3 years ago

The framework is structured around four pillars relating to trade, supply chains, clean economy, and fair economy (issues like tax and anti-corruption). India has joined the three pillars except the trade part. The member countries are holding negotiations to sign separate agreements on these subjects.

More delay in India-UK FTA, India ‘struggling to differentiate between what it needs & wants’

3 years ago

The free trade agreement between India and the United Kingdom is facing further delays due to disagreements, particularly regarding trade in goods and services. India is struggling to differentiate between its wants and needs in the negotiations. The two countries were expected to sign the proposed agreement at the end of this month, but progress […]

Maritime sector sets sights on Rs 80 lakh cr investment by 2047, document released by PM Modi shows

3 years ago

Prime Minister Narendra Modi has highlighted the potential of the India-Middle East-Europe Economic Corridor (IMEEC) to revolutionize global maritime trade. He invited investors to participate in the initiative as India aims to attract investments worth ₹75-80 lakh crore in its maritime sector by 2047.

Sitharaman calls for developing capabilities, legal systems for intl arbitration centre for maritime sector

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