The government has approved a ₹70,000 crore package for shipping and maritime sectors. Companies can now avail incentives under all schemes simultaneously. The package includes a National Shipbuilding Mission and a Maritime Development Fund. The aim is to attract global shipbuilding giants to India. Several locations are being evaluated for shipbuilding clusters.
Companies can avail all shipbuilding sops simultaneously
FTA talks underway with several countries including US, New Zealand, Oman, Peru and Chile: Piyush Goyal
3 weeks ago
India is negotiating free trade agreements with several nations. Commerce Minister Piyush Goyal stated talks are underway with the US, EU, New Zealand, Oman, Peru, and Chile. The EFTA trade agreement will commence on October 1. This pact includes a 100 billion dollar investment commitment. India seeks to expand trade and manufacturing through these international […]
India is aggressively expanding its global trade footprint, actively pursuing numerous FTAs across Europe, Asia, and the Middle East. Recent milestones include operationalizing a landmark investment-linked pact with EFTA, accelerating CEPA with the UAE, and advancing talks with the EU, EAEU, and Oman, signaling a strategic push for economic cooperation and influence.
India’s landmark trade agreement with the European Free Trade Association (EFTA) bloc becomes operational on October 1. This first-ever pact with a European grouping includes a significant $100 billion investment pledge from EFTA nations over 15 years, aiming to create one million jobs.
US Commerce Secretary Howard Lutnick stated India must ‘react correctly’ to the US, open its markets, and avoid actions harming America. He emphasized that countries selling to US consumers need to ‘play ball’ with the US President. This follows a recent visit by an Indian delegation to the US for trade discussions aimed at strengthening […]
India and Argentina are significantly expanding their agricultural cooperation, marked by recent high-level delegations and a Prime Minister’s visit. Argentina stands as India’s leading and reliable supplier of soybean oil and a key source for sunflower oil, achieving record production and exports. This strengthening bilateral relationship aims for sustained mutual growth, particularly in the vital […]
Cabinet approves Rs 69,725 crore package to transform India’s shipbuilding, maritime sector
4 weeks ago
The Union Cabinet, led by Prime Minister Narendra Modi, has approved a Rs 69,725 crore package. This package aims to revitalize India’s shipbuilding and maritime sector. It is a comprehensive strategy built on four pillars. The initiative spans ten years. It includes the Shipbuilding Development Scheme with a significant budgetary allocation.
South Asia analyst Michael Kugelman has highlighted the importance of trade talks between India and the United States, stating that a potential trade deal could serve as a major confidence-building measure and help stabilise the bilateral relationship while easing tensions.
India and the European Union’s 13th round of FTA negotiations in Delhi saw limited progress, particularly in automotive and agricultural sectors. While advancements were made in rules of origin and investment, key disagreements persist in agriculture, chemicals, and automotive standards. The EU highlighted the need for high-level interventions to bridge the gap, with the next […]
India is ratifying the WTO Agreement on Fisheries Subsidies, advocating for stricter rules for nations historically providing high subsidies. New Delhi emphasizes ‘precise’ special treatment for developing countries and calls for balanced disciplines promoting sustainability. It seeks subsidy calculations on a per capita basis and a 25-year exemption to protect its small-scale fishers.