India plans to launch Bharat Container Line to reduce reliance on foreign vessels and boost overseas trade. The initiative will start with 100 container vessels focusing on key trade routes. A ₹25,000 crore Maritime Development Fund will support shipbuilding and infrastructure development. The government aims to strengthen the domestic shipbuilding industry and enhance global trade […]
‘Bharat Container Line will help derisk overseas trade’
Union Budget 2025: The Budget 2025-26 has introduced incentives for domestic shipbuilding, recycling, and inland waterways. Finance Minister Nirmala Sitharaman announced measures like Shipbuilding Clusters, revamped financial assistance, and extended customs duty exemptions for these industries. The tonnage tax scheme will also be expanded to include inland vessels to promote water transport.
Finance Minister Nirmala Sitharaman announced a Maritime Development Fund with a corpus of Rs 25,000 crore to support the maritime industry. By 2030, this fund aims to generate up to Rs 1.5 lakh crore investment. Additionally, customs duty exemption and revamped Shipbuilding Financial Assistance Policy will promote domestic shipbuilding and international trade.
India is set to boost its shipbuilding industry with the announcement of a ₹25,000-crore Maritime Development Fund and development of new shipbuilding clusters. Additionally, finance minister Nirmala Sitharaman has extended customs duty exemptions on shipbuilding materials and expanded the tonnage tax scheme to include inland vessels.
The Central Consumer Protection Authority has issued notices to Ola and Uber over claims of differential pricing based on the type of mobile used, Android or iPhone. Union Minister Pralhad Joshi emphasized zero tolerance for consumer exploitation, labeling the practice as an unfair trade practice and sought responses from the ride-hailing platforms.
Adani Ports & SEZ Ltd seeks partial de-notification of its SEZ in Mundra, Gujarat, citing competitive pressures and economic challenges in the solar market. The commerce ministry’s Board of Approval will review the proposal. The meeting will also consider extending the LOA for Mundra Petrochem Ltd’s project due to pandemic-related delays. SEZs are crucial export […]
Tajikistan is in negotiations with Iran for cargo transit via Chabahar port, supported by India, to enhance trade with India and the Gulf region. Tajikistan’s transport minister and Iran’s minister recently signed a cooperation agreement. Tajikistan will access the port through Uzbekistan-Turkmenistan or Afghanistan, indicating strategic trade expansion efforts.
India plans to form a consortium including Bharat Global, Indian Port Rail & Ropeway Corporation, Sagarmala Development Company, and Shipping Corporation of India to bid for overseas port operations. The initiative aims to replicate the Chabahar port model in strategic locations, enhance maritime presence, and mitigate global trade disruptions with the establishment of Bharat Container […]
Stakeholders from 11 countries to discuss business opportunities at Maritime India Conference
1 year ago
Around 7,500 stakeholders from 11 countries, including the US, UAE, and Norway, will participate in the Maritime India Conference. Union Minister Sarbananda Sonowal will address the event. The conference will focus on transforming ports with smart technologies and sustainable practices, accelerating decarbonisation, enhancing maritime logistics, and innovations in shipbuilding and repair. The event aligns with […]
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 […]