Prime Minister Narendra Modi commissions the Vizhinjam International Seaport, positioning Kerala as a key player in global maritime trade. Developed by Adani Ports under a public-private partnership, the port aims to reduce India’s reliance on foreign transshipment hubs like Colombo. Vizhinjam, India’s first dedicated transshipment port, boasts advanced technology and strategic location, attracting major shipping […]
Vizhinjam seaport set to be commissioned by PM Modi
India’s exports reached a record USD 824.9 billion in 2024-25, propelled by a surge in services exports to USD 387.5 billion. This represents a 6.01% growth over the previous year, with key sectors like telecommunications and financial services contributing significantly. However, concerns remain about order inflows from the US and Europe, prompting calls for government […]
India, the world’s leading sugar producer, is projected to export up to 8 lakh tonnes of sugar in the 2024-25 season, falling short of the 10 lakh tonne quota. As of now, 3 lakh tonnes have been shipped, with another 60,000 tonnes at ports.
Swan Defence and Heavy Industries Ltd partners with Wheel & Time Shipping Transport Logistics to introduce a F.A.S.T. logistics facility at its Pipavav shipyard. This 600-acre site, equipped with advanced infrastructure, aims to streamline the entire value chain from fabrication to transportation. The collaboration targets key sectors, enabling clients to focus on innovation and project […]
Shipbuilding, maritime funds likely soon
1 year ago
The Indian government is poised to introduce a ₹18,090 crore shipbuilding financial assistance policy and a ₹25,000 crore maritime development fund (MDF). The MDF aims to boost Indian-flagged ships’ share in global cargo to 20% by 2047, attracting ₹1.5 lakh-crore investments by 2030. Enhanced incentives for green shipbuilding, hybrid technologies, and large vessel manufacturing are […]
Commerce Minister Piyush Goyal may revisit London to finalize the India-UK Free Trade Agreement, aiming to resolve remaining issues. Negotiations are progressing rapidly, with many issues already addressed during high-level ministerial visits. The FTA, encompassing goods, services, and investments, is nearing completion, pending resolution of concerns like carbon border adjustments and service sector access.
The US, UK, and Canada have raised concerns at the WTO regarding India’s Make in India initiative and various subsidy programs. Questions were specifically directed towards the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), fisheries subsidies, and agricultural support. India has addressed some queries and promised further information on fish-related subsidies […]
India urges WTO members to promptly address pending ministerial mandates. Delaying decisions on public stockholding and special safeguard mechanisms could worsen global hunger. India highlights the need for fair agricultural support. Current rules favor developed nations. Developing countries struggle to provide minimal support. The 14th Ministerial Conference will be held in Cameroon in 2026.
Piyush Goyal meets Norway’s foreign minister Eide, discusses India-EFTA trade pact implementation
1 year ago
Commerce Minister Piyush Goyal and Norwegian Foreign Minister Espen Barth Eide discussed implementing the India-EFTA Trade and Economic Partnership Agreement, aiming to boost trade and investment. EFTA’s commitment includes promoting USD 100 billion in FDI to India over 15 years, potentially creating 1 million jobs.
Commerce Secretary Sunil Barthwal visited the Netherlands. The visit aimed to establish a green and digital corridor. This corridor will connect Rotterdam port with Indian ports. The goal is to facilitate green hydrogen export to Europe. Discussions also covered semiconductor cooperation with ASML. Barthwal also visited Croatia to discuss the India-EU free trade agreement.