Budget aims to position India as a global leader in maritime innovation: Minister Sonowal

The Union Budget 2024-25, presented by PM Modi and FM Sitharaman, focuses on maritime innovation, job creation, economic growth, and shipping reforms. It includes MSMEs, cruise tourism, shipbuilding, GST simplification, MAKV 2047, inclusive banking, Northeast development, Assam flood management, Pradhan Mantri Janjatiya Unnat Gram Abhiyan, heavy engineering, and boosts agriculture benefiting ‘Annadata’.

India’s sweeping shipping reforms aim to create jobs and remove customs duties on vessel components and warship spare parts. Supported by Nirmala Sitharaman and Sarbananda Sonowal under Maritime India Vision 2047, they include leasing, cruise tourism, tax exemptions, simpler foreign shipping company tax regimes, IFSCA links, and addressing low overseas cargo share through shipbuilding repairs […]

The Economic Survey 2024 highlighted significant advancements in India’s logistics sector, including improved global rankings, digitalization efforts, and efficiency gains. Key initiatives like PM Gati Shakti and National Logistics Policy have contributed to enhanced competitiveness and trade facilitation.

Three Indian Coast Guard ships responded to a distress call from the cargo vessel MV Maersk Frankfurt, which reported explosions on its front deck in the Arabian Sea. The ships Sujeet, Sachet, and Samrat fought the fire for over 12 hours, preventing its spread. The operation, amid rough seas and inclement weather, involved aerial assessments […]

Post-pandemic courier frauds exploit technological trust. Fake officers demand payments for seized parcels. Warning signs include unsolicited payment requests, misspellings, and prize claims. FedEx, with law enforcement, highlights not sharing sensitive details. Critical measures include awareness initiatives, elderly education, direct verification, reporting fraud via cybercrime.gov.in, and disconnecting suspicious calls.

The new airport is expected to be set up by the Airports Authority of India (AAI), while NTPC will set up the LNG power plant, a senior official aware of the plan told ET.

The ports business has been seeing exponential growth in the past few years, and Adani expects the trajectory to continue. “Currently, the split between our ports and logistics segment is 70:30, and we expect the same to continue because while our logistics segment is growing, so is our ports segment, and that too at a […]

According to a statement by the ministry on Saturday, the project has been sanctioned at an estimated cost of Rs 46,47,380. The ‘Valorization of dredged sediments’ is the reuse of sediments as raw material for civil engineering and other purposes. It can be a sustainable solution to reduce the strain on natural resources and eliminate […]

Billionaire Gautam Adani’s company, Adani Ports, plans to build a new port in Da Nang, Vietnam, after receiving initial approval from the Vietnamese government. This project aims to enhance trade infrastructure with container terminals and versatile berths for various cargoes. Adani Ports, already operating in Israel, Sri Lanka, and Tanzania, seeks to boost India’s maritime […]