India and Canada have officially begun talks for a Comprehensive Economic Partnership Agreement. This marks a new chapter in their trade relations. Both nations aim to finalize the pact by the end of 2026. They have set a target to increase bilateral trade to 50 billion dollars by 2030. This agreement will cover goods, services, […]
India, Canada relaunch free trade talks after 2023 diplomatic chill
State-owned GIC Re will withdraw Marine Hull War Risk cover from several high-risk regions starting in early March, including the Persian Gulf, Black Sea, and Red Sea, amid rising geopolitical tensions. Ship owners should review their insurance arrangements, as there will be no war risk protection from GIC Re for operations in these regions after […]
India has issued a maritime advisory for its seafarers. This comes amid rising tensions in the Middle East. The advisory urges vigilance and adherence to official guidance. Shipping companies must monitor Indian crew safety. This proactive step aims to ensure maritime safety and readiness for swift response.
VO Chidambaranar Port plans a massive Rs 15,000 crore Outer Harbour project. This initiative aims to significantly increase cargo handling capacity. The port seeks to become a major transhipment hub for southern India. The project will add substantial capacity by 2027 and 2030. It will attract larger vessels and boost regional employment. This expansion aligns […]
Indian ships are told to avoid West Asian ports and the Strait of Hormuz. Major shipping companies have suspended bookings and rerouted vessels. The Strait of Hormuz is closed. This is a precautionary measure amid regional conflict. About 25 Indian vessels are being monitored.
Oil, trade risks for India amid Iran-Israel war
3 months ago
Escalating Iran-Israel tensions threaten India’s energy security, potentially raising oil prices and inflation. Disruptions in West Asia, a crucial $178.5 billion trading bloc for India, could impact the rupee and force exporters to find new routes. The Strait of Hormuz, vital for energy imports, remains a key chokepoint.
Indian onion exports to West Asia have stopped. Major ports in the region closed operations on Sunday. This has suspended vessel movements. Consignments are now stranded. The disruption occurs during the Ramadan shipping window. Overseas demand typically surges by 30% at this time. Farmers in northern Maharashtra face subdued prices.
Iran conflict threatens India’s $4.5 billion electronics exports to Gulf via UAE, Hormuz route disruptions
3 months ago
India’s electronics and tech exports to the Gulf face potential disruption due to the Iran conflict. The UAE, a major buyer, has seen its infrastructure targeted. Shipments to the UAE and Saudi Arabia, crucial markets for Indian electronics, rely on routes through or near Iranian airspace. This situation is being closely monitored by the government.