The proposed Vadhvan Port in Palghar, Maharashtra, promises to generate 12 lakh jobs and significant infrastructure, benefiting local communities. Union Minister Sarbananda Sonowal highlighted India’s progress in the maritime sector under Prime Minister Narendra Modi. The Rs 76,200 crore project is slated for first phase completion by 2029, enhancing the region’s global identity.
Vadhvan Port in Maharashtra to generate 12 lakh jobs for youth, women: Sonowal
Prime Minister Narendra Modi laid the foundation stone for the Vadhavan Port project in Maharashtra, set to become one of India’s largest deep-water ports. The port, costing Rs 76,220 crore, aims to boost India’s maritime infrastructure, featuring container terminals, multipurpose berths, and excellent connectivity, enhancing trade and industrial development.
The Syama Prasad Mookerjee Port in Kolkata has launched the Bengal Middle East Express, a new container service linking Haldia Dock Complex with Jebel Ali Port in the UAE. This service aims to improve transit time and cost efficiency for regional traders by bypassing traditional transshipment ports.
The MoU facilitates the revision of the wage structure and addresses other service conditions, including pensionary benefits. It was agreed that the fitment benefit of 8.5% on the aggregate amount of basic pay as of December 31, 2021, plus 30% Variable Dearness Allowance (VDA) as of January 1, 2022, shall be granted.
The Ministry of Ports, Shipping and Waterways has approved a new wage structure for workers at major ports, stopping an indefinite strike. The agreement includes an 8.5% fitment benefit and additional allowances. The periodicity of the settlement is from January 1, 2022, to December 31, 2026, with a review set for 2027.
India is considering raising import taxes on vegetable oils to help protect farmers reeling from lower oilseed prices, two government sources said on Wednesday. The move, which is likely to be announced in the coming weeks, could dampen demand and reduce overseas purchases of palm oil.
India is considering raising import taxes on vegetable oils to help protect farmers facing lower oilseed prices. The decision, likely to be announced in the coming weeks, may reduce demand for palm oil, soyoil, and sunflower oil imports. The finance ministry’s Department of Revenue will make the final determination.
At a national coordination committee meeting in Tuticorn (Tamil Nadu) on August 8, major port workers’ unions affiliated to five federations decided to go on an indefinite strike from August 28 to press for immediate wage revision and other benefits, pending for nearly 32 months.
Government notifies 160 tons of gold import from UAE at concessional rate this fiscal under trade pact
2 years ago
The Indian government has allowed the import of up to 160 tonnes of gold from the UAE at a concessional rate for 2024-25 under the India-UAE free trade agreement, known as CEPA. This follows a surge in gold imports from the UAE, prompting calls for a review of the agreement. India’s gold imports dropped by […]
India and Oman are close to finalizing a Comprehensive Economic Partnership Agreement (CEPA) to increase bilateral trade and investments. The agreement would benefit Indian exports, including textiles and pharmaceuticals, by eliminating duties. Improved direct shipping links were also discussed to reduce trade costs and enhance economic ties.