Maersk, a global shipping giant, is exploring shipbuilding and repair opportunities in India, expressing confidence in the nation’s growing capabilities. This aligns with India’s ambitious shipbuilding policy, which offers substantial subsidies and a ship recycling credit note scheme to boost the industry through 2034, potentially extending to 2047.
Maersk keen to build & repair ships in India, says official
India and three other nations oppose the China-led WTO investment agreement, preferring consensus on non-trade issues. Meanwhile, India evaluates its stance on the EU’s Carbon Border Adjustment Mechanism (CBAM) amidst ongoing FTA negotiations, concerned about potential tariffs impacting domestic industries.
Govt allows Adani Krishnapatnam Port to import petroleum into India by sea in ‘public interest’
2 years ago
Adani Port: On Monday, the Ministry of Ports, Shipping, and Waterways granted an extension for petroleum imports at Adani Krishnapatnam Port in Andhra Pradesh. This approval allows the port to maintain its petroleum imports by sea, in line with the operations authorized under the Navigational Safety at Ports Committee (NSPC) certificate.
Indian exporters experienced a mixed 2024, with higher online orders and demand for sustainable products but lower order values. Exports rose 5-8%, driven by the US and EU, despite slow demand in some European nations. Global brands shifted orders from Bangladesh to India due to political instability there, boosting garment exports. Rising Israel-Iran tensions posed […]
India and Australia concluded a three-day meeting to expedite their Comprehensive Economic Cooperation Agreement (CECA). Negotiators discussed market access, aligning with India’s food security goals, and explored collaborations in agriculture, supply chains, and other key areas. Building upon the interim ECTA, the CECA aims to broaden trade across goods, services, and emerging sectors.
India and the European Union are gearing up for the next round of free trade agreement talks in March 2025 in Brussels. They aim to resolve differences on rules of origin and government procurement. Market access for Indian goods, services, and investments will be key discussion points, along with EU sustainability measures.
India and the EFTA bloc’s free trade agreement, signed in March, awaits ratification by the four EFTA nations, including Norway, which aims to complete the process by 2025. Discussions at the India-Norway Business Forum in Mumbai highlighted the agreement’s potential to boost trade and investment, focusing on renewable energy and maritime industries.
India has no interest in weakening US Dollar: Jaishankar responds to Trump’s threat to BRICS nations
2 years ago
External Affairs Minister S. Jaishankar addressed the Doha Forum, emphasising India’s strong relationship with the US and dismissing the idea of weakening the dollar. He highlighted the positive ties during the first Trump administration, including the QUAD’s revival, and noted the personal bond between PM Modi and Trump.
India continues to stay out of the RCEP trade deal. The government affirmed its 2019 decision. Concerns remain unaddressed. This comes as imports from China crossed $100 billion. Indian exports to China saw a slight decline. The trade imbalance with China continues to widen. The government is focusing on domestic production.
Shipping lines are bolstering capacity to accommodate India’s burgeoning exports. Maersk, Hapag-Lloyd, MSC, and CMA CGM are introducing new routes and enhancing services, aiming to improve trade efficiency and reduce costs. This expansion comes as India’s merchandise exports surge and global logistics dynamics shift, creating opportunities for faster transit times and increased connectivity between India […]