Swan Defence and Heavy Industries has signed a Rs 4,250 crore agreement with Gujarat Maritime Board. The goal is to modernize shipyards and boost supply chains. SDHI also signed an MoU with Sagarmala Finance Corporation Limited. Prime Minister Narendra Modi inaugurated maritime development projects worth over Rs 7,870 crore.
Swan Defence signs Rs 4,250 crore pact with Gujarat Maritime Board
PM Modi flags ₹6 lakh cr shipping bill outflow that equals defence spend, calls for Atmanirbhar push
1 month ago
Prime Minister Modi highlighted India’s significant annual expenditure of ₹6 lakh crore to foreign companies for shipping, nearly equivalent to the country’s defense budget. He attributed this dependence to the Congress governments’ neglect of domestic shipbuilding, hindering India’s potential. Modi emphasized the need for self-reliance in the shipping sector to bolster economic sovereignty and realize […]
Commerce and Industry Minister Piyush Goyal will lead a delegation to the US on September 22, 2025, for trade talks aimed at finalizing a mutually beneficial agreement. Discussions follow positive meetings held earlier in September, with both sides keen to intensify efforts.
India’s rapeseed meal exports to China have surged dramatically due to competitive pricing and strong domestic mustard oil demand. This increase contrasts with a decline in soybean meal exports, impacted by cheaper South American prices and competition from DDGS.
Pascal Lamy suggests the US has effectively withdrawn from the WTO, as experts at a CUTS International roundtable emphasized the urgent need for WTO reform. Participants warned that inaction could lead to a significant drop in exports and called for inclusive reforms that benefit SMEs, women, and developing nations.
Non-performing assets (NPAs) in the Micro, Small and Medium Enterprises (MSME) sector may see a marginal uptick, particularly in select export-oriented industries, amid global trade headwinds and portfolio seasoning, according to Crisil Ratings.
Container freight rates are projected to remain low due to global trade uncertainties caused by US tariffs. Exporters accelerated shipments to the US before tariff deadlines, leading to an 18% increase in exports during April-August 2025. Oversupply of capacity and weakening global demand are expected to further depress sea freight rates, impacting smaller exporters significantly.
The government has granted infrastructure status to large ships, defined as commercial vessels meeting specific tonnage and ownership criteria, aiming to facilitate easier and cheaper financing for shipbuilding in India. This move, aligned with the Maritime India Vision 2030, anticipates significant investment in the shipping sector and supports the development of shipbuilding clusters.
Mercantile Ports & Logistics Ltd. has initiated legal action against a group of unidentified banks in India, alleging they failed to act fairly during refinancing negotiations. The company claims a third party is attempting to acquire its outstanding debt from the banks, potentially disrupting the refinancing process.