India Maritime Week 2025 has secured investment pledges totaling ₹12 lakh crore. A significant portion, nearly 20%, is earmarked for shipbuilding. This development supports India’s ambition to become a top global shipbuilding nation by 2047. These investments will boost port development, sustainability, and industrialization. Major players like DP World and Cochin Shipyard are part of […]
Maritime Week 2025: ₹12 lakh cr investments pledged, 20% for shipbuilding
India should focus more on maritime sector to become developed nation by 2047: Mandaviya
8 months ago
India’s maritime sector holds the key to becoming a developed nation by 2047. Labour and Employment Minister Mansukh Mandaviya highlighted its potential for job creation and trade growth. He noted that 95 percent of India’s trade by volume moves by sea. The government is actively building an ecosystem for shipbuilding to revive India’s historical maritime […]
Yellow peas import to attract 30 pc duty from Nov 1
8 months ago
Beginning November 1, a 30% import duty will be levied on yellow peas. Any shipments with a bill of lading dated on or before October 31 will avoid this charge. Previously, the government allowed duty-free imports until March 2026, but this new regulation significantly impacts future yellow pea imports.
US has granted India a six-month exemption from sanctions on Chabahar port, confirms MEA
8 months ago
The United States has granted India a six-month exemption from sanctions for operations at Iran’s Chabahar port. This waiver is crucial for India’s regional connectivity plans, including trade with Afghanistan, Central Asia, and Russia, and bypasses Pakistan. India recently signed a 10-year agreement to operate the port.
The Ministry of External Affairs on Thursday said that some Indian companies have received licences to import rare earths from China. The minerals, vital for industries such as electronics, renewable energy and defence, have faced global supply concerns after China imposed export restrictions.
A Memorandum of Understanding (MoU) for a capital investment of Rs 17 thousand crores was signed by Gujarat Maritime Board and Gujarat Pipavav Port Limited (APM Terminals) in Gandhinagar on Wednesday in the inspiring presence of Chief Minister Patel and AP Moller-Maersk Board Chairman Robert Maersk Ugla.
Syama Prasad Mookerjee Port, Kolkata announced securing over Rs 48,000 crore in strategic investment partnerships. MoUs were signed during India Maritime Week-2025 in Mumbai. Agreements cover dredging, POL handling, and new container terminals. Partnerships also include cement bulk-terminal and river-front development projects. These collaborations aim to transform the port and enhance trade capacity.
Half of EU FTA deal wrapped up: Piyush Goyal
8 months ago
India and the European Union are nearing a free trade agreement. Negotiations have concluded 10 chapters, with more broadly decided. Sensitive issues like steel and automobiles require further discussion. Both sides aim for a balanced pact, recognizing mutual strengths. The EU trade commissioner’s visit in November is expected to bring further breakthroughs.
India will now allocate tariff rate quotas for gold imports from the UAE through a competitive bidding process. This move aims to enhance transparency and efficiency. Eligible importers must be registered with the Bureau of Indian Standards for hallmarking and with GST.
Next week, Commerce and Industry Minister Piyush Goyal will embark on a visit to New Zealand to engage in productive discussions surrounding a proposed free trade agreement. The goal of the negotiations is to bring the FTA to a robust conclusion, enhancing the rapidly growing bilateral trade between India and New Zealand.