India is considering relaxing cabotage rules for foreign vessels to address a potential shortage of ships and containers amid rising freight costs due to the West Asia crisis. Authorities are also developing protocols for stranded cargo, with around 38,000 containers currently held up, including perishable goods.
India may ease permits for foreign flagged vessel to ship domestic containers
‘Won’t repeat China mistake with India’: US Deputy Secretary Landau says trade deal will keep ‘America First’
2 months ago
In a recent address, Deputy Secretary of State Christopher Landau emphasised that the upcoming trade agreement with India is centered around safeguarding American interests. He pointed out the importance of securing equitable agreements, aiming to avoid previous oversights. Landau reiterated that ‘America First’ embodies a spirit of collaboration rather than retreat.
Piyush Goyal in talks with shipping ministry, companies to tackle stuck cargoes as Middle East crisis stalls trade
2 months ago
India is actively addressing trade route disruptions caused by Middle East conflict. Commerce Minister Piyush Goyal is in discussions with the shipping ministry and companies to resolve issues with marooned cargoes. The government is committed to supporting exporters by easing the burden of high insurance and shipment costs.
India is set to receive millions of barrels of Russian oil. A US waiver allows these purchases amid Middle East supply shortages. Tankers carrying Russian crude are heading towards Indian ports. This move offers a quick energy solution for India. Refiners are expected to increase their buying of Russian oil again.
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India has launched a pioneering initiative by laying foundation stones for four river lighthouses along the Brahmaputra River. This marks the first time such infrastructure will be built on an inland waterway. The project aims to boost safe 24×7 navigation and support growing cargo and passenger traffic.
India is in discussions with the United States. The talks focus on a proposed insurance plan for oil tankers. This plan aims to secure passage through the Strait of Hormuz. The US is offering this cover to ensure trade flow in the Gulf. India’s crude oil imports are significantly impacted by disruptions in this vital […]