India plans to invest around Rs 50,000 crores to enhance its inland waterways over five years, with Rs 23,000 crores allocated for new national waterways and green shipping initiatives. The government is also developing shipbuilding and repair facilities across 111 national waterways, reducing logistics costs and boosting ancillary industries while focusing on the socio-economic well-being […]
Planned investment of around Rs 50,000 crore over next five years for inland waterways: Sarbananda Sonowal
Rosatom announced a record cargo shipment of 37.9 million tons via the Northern Sea Route in 2024. The year also marked the launch of new icebreakers and saw a record number of transit voyages and navigation permits. The development of the Great Northern Sea Route is poised to enhance connectivity across Russia, Europe, and the […]
The Odisha government announces support for a ₹4,000-crore ship recycling hub near Paradip port, two new ports at Inchuri and Bahuda with private sector participation, and investments in railway tracks for mineral evacuation. Hydrogen manufacturing is expected by 2026. The state also plans to develop data centres and an electronic city.
In December, India shifted crude imports from Russia, the US, Venezuela, and Brazil to Iraq, the UAE, Kuwait, Angola, and Nigeria due to reduced exports from the former group. Russia’s monthly share dropped to 33.4% as higher domestic refining needs limited exports. India secured alternative supplies primarily from Iraq and the UAE.
Goyal said the global demand for these products is about Rs 1 lakh crore, which can grow up to Rs 10 lakh crore in the coming years and asked startups to come out with solutions that help in growth of the sector. He also said the cooperative sector, farming sector and the trade sector will […]
The government has established a committee to create a consistent mechanism for publishing export-import data amid technical glitches. This follows steep downward revisions in gold and silver imports for April-November FY25 due to calculation errors. The revisions include revised electronics imports for April to November downgraded by $2.7 billion.
India organic products’ exports have potential to reach Rs 20,000 cr in 3 years: Piyush Goyal
1 year ago
India aims to increase organic product exports to Rs 20,000 crore in the next three years. Commerce Minister Piyush Goyal announced this while releasing the revised National Programme for Organic Production. New regulations will enhance clarity and transparency in organic product standards. The initiative seeks to boost India’s organic export sector, targeting USD 2 billion […]
Gold and silver import figures for April-November FY25 were revised significantly, with gold imports adjusted downward by $5 billion to $9.84 billion for November. This reduced the trade deficit and eased pressure on the rupee. The corrected gold import total for the period is $37.38 billion, down from the earlier $49.08 billion estimate.
India corrected its November gold import estimates, cutting them by $5 billion due to calculation errors. The revised imports stand at $9.84 billion, reducing the previously calculated trade deficit. Despite the correction, overall gold imports in 2024 have already surpassed those in 2023. India remains a key gold consumer, relying heavily on imports.
India and Malaysia committed to enhancing cooperation in counter-terrorism, cyber security, defence, and maritime security. They agreed to institutionalise annual security dialogues, building on discussions initiated during Malaysian Prime Minister Ibrahim’s visit to India in August 2024, which elevated bilateral ties to a Comprehensive Strategic Partnership.