Domestic shipping companies in India are set to benefit from the proposed expansion of the tonnage tax scheme in the new Income Tax Bill, 2025. The scheme, previously limited to seagoing ships, will now include inland vessels, encouraging investments in inland waterways. The bill aims to improve cash flow and viability for both inland and […]
Tonnage Tax law to ship in big gains for domestic firms
Speaking to ET, Union Ports, Shipping, and Waterways Minister Sarbananda Sonowal said work is gathering steam at Vadhavan with shore protection works worth Rs 1700 crore already being awarded. The International Container Transhipment Port (ICTP) at Great Nicobar is in an advanced stages of appraisal and approvals, with environmental clearance already in place, he said.
The Indian electronics industry seeks enhanced trade ties with the US aiming for $750 billion in bilateral trade by 2032, including $100 billion in electronics. They highlight opportunities created by policies like the Production Linked Incentive (PLI) scheme and call for favorable trade concessions and technology partnerships from the US.
India has exported up to 500,000 metric tons of sugar this season, focusing on countries like Sri Lanka, Bangladesh, and Nepal. The pace is slowing due to mill closures and poor harvest conditions. Experts doubt the one million-ton quota will be met by September 2025.
American almonds constitute 93% of India’s almond imports, valued over $1 billion last year, and American pistachios 84%. Demand for dry fruits has grown due to health focus and higher incomes. The US almond market in India has grown due to strong marketing. Australia and Chile also contribute, while US seeks more trade concessions.
Commerce and Industry Minister Piyush Goyal underlined the sub-optimal bilateral trade between India and Israel, urging for a tenfold increase. With potential in sectors like technology and renewable energy, Goyal said he saw significant growth in trade and investments over the next 12-13 years.
Various global, domestic factors influenced value of rupee against US dollar: FM Sitharaman
1 year ago
India’s Finance Minister Nirmala Sitharaman attributed the recent weakening of the rupee against the US dollar to a combination of global and domestic factors, including the dollar index, capital flows, and interest rate trends. The rupee depreciated 3.3% between October 2024 and January 2025, a smaller decline compared to other Asian currencies like the South […]
India’s thermal coal imports are expected to decline for the second consecutive year in 2025 due to reduced coal dependency for power generation, slowing economic activity, and high inventories. Imports fell around 2% to 173 million metric tons in 2024, driven by increased domestic production and competitive alternatives like petroleum coke preferred by the cement […]
The Indian government has pinpointed 20 countries including Australia, China, and France, along with six focus sectors in commodities and services, to boost exports. Meetings with Indian Missions aimed to foster multilateral trade and reduce logistical barriers, promoting initiatives like the E-connect Portal and One District One Product (ODOP) for enhanced market access.
President Prabowo Subianto’s state visit to India resulted in several high-level business meetings, underscoring the potential for deeper trade and investment ties. Key sectors discussed include energy, digitalization, health, and manufacturing, with significant participation from prominent companies and ministers to drive bilateral economic growth.