Adani Ports will invest a cumulative Rs 30,000 crore in the Vizhinjam port, aiming to increase its capacity to 5.7 million TEUs by 2029. Karan Adani stated it will become the largest transshipment port in the Indian subcontinent and a globally competitive maritime hub.
APSEZ will invest Rs 30,000 cr in development of Vizhinjam sea port: Karan Adani
Adani Ports commits Rs 16,000 cr investment to expand Vizhinjam seaport capacity to 5.7 million TEUs by 2029
1 month ago
Adani Ports & Special Economic Zone Ltd (APSEZ) will invest Rs 16,000 crore for the second phase of development at Kerala’s Vizhinjam International Seaport. Chief Minister Pinarayi Vijayan inaugurated the phase, with Adani Ports MD Karan Adani and Union Minister Sarbananda Sonowal in attendance.
Adani Ports will undertake the second phase development of Vizhinjam seaport. This expansion, costing around Rs 16,000 crore, aims to establish Vizhinjam as the Indian subcontinent’s largest transhipment hub. The project will significantly increase the port’s capacity and introduce advanced automation. The inauguration is scheduled for Saturday evening.
India and the European Union are nearing a free trade agreement that could slash import duties on automobiles, including electric vehicles, to 10-15%. This move is anticipated to boost European luxury EV sales in India and position the country as a competitive manufacturing hub for these vehicles.
The US has hinted at removing the additional 25% tariff on India after New Delhi sharply cut Russian oil imports. Treasury Secretary Scott Bessent said India’s purchases have “collapsed,” calling the tariffs a success. Imports fell about 30% year-on-year in early January. India maintains its strategic autonomy even as Washington weighs tougher trade measures.
India, EU likely set to unveil new strategic agenda, announce ‘mother of all deals’ at Jan 27 summit
1 month ago
The upcoming India-EU summit on January 27 will focus on a joint strategic agenda to deepen cooperation across prosperity, technology, security, and connectivity. Leaders are also set to announce the conclusion of the long-pending free trade agreement, aiming to boost bilateral trade and investment.
US Treasury Secretary Scott Bessent indicated potential removal of 25% extra tariff on India if its Russian oil purchases continue to decline, calling the outcome a “huge success.” This comes as the US Congress debates a bill that could impose a 500% duty on countries buying Russian oil, while India maintains its focus on securing […]
India-EU FTA: European Union’s Vice-President Kaja Kallas is in New Delhi for a visit that could see a long-awaited free trade agreement finalized. This pact, dubbed ‘the mother of all deals,’ aims to boost trade between India and the 27-member bloc. A new security and defence partnership is also set to be signed, signaling a […]
Swan Defence And Heavy Industries secured a significant $227 million contract for six chemical tankers from European shipowner Rederiet Stenersen AS. This landmark deal marks India’s largest single commercial shipbuilding order and the first & largest chemical tanker order for an Indian shipyard. The 18,000 DWT IMO Type II tankers will be built at their […]
Geopolitical uncertainty is rewiring global trade, India well placed: McKinsey Asia Chair
2 months ago
Global trade is undergoing a major shift due to geopolitical uncertainty. India is strategically positioned to benefit from this transformation over the next ten years. New trade routes are emerging, connecting India with the Middle East, Japan, Southeast Asia, and the European Union.