Paradip Port is set to develop new berths, mechanize existing ones, and establish a berth for green hydrogen as part of its strategy to become fully mechanized by 2030. The port aims to exceed 400 MTPA handling capacity by 2030 and has signed agreements for green hydrogen and ammonia plants to create a regional hub.
Paradip Port sets eyes on complete mechanisation by 2030
India and China are reshaping the global economy, shifting focus from G7 nations to the BRICS alliance. The BRICS+ group’s share in global exports has more than doubled since 2000, challenging G7 dominance. High-tech exports from BRICS+ nations are also on the rise. This shift indicates a potential overtaking of the G7’s share in global […]
India, Saudi discuss ways to increase cooperation in fertilizers, petrochemicals, mining sectors
2 years ago
India and Saudi Arabia explored enhancing cooperation in fertilizers, petrochemicals, and mining to boost trade and investments during meetings between Commerce and Industry Minister Piyush Goyal and Saudi Minister Bandar bin Ibrahim Alkhorayef. The bilateral trade stands at $43 billion in 2023-24, with Indian companies investing significantly in Saudi Arabia.
India’s Commerce Minister Piyush Goyal stated that the country does not view US-China tensions as beneficial. He emphasised India’s self-reliance, democratic strengths, and young population. Goyal also highlighted the role of diplomacy in resolving global issues and discussed opportunities for collaboration in various sectors with Saudi Arabian and international business leaders during the Future Investment […]
India’s gold imports increased by 21.78% to USD 27 billion in April-September 2023-24 due to strong domestic demand, influencing the current account deficit. Silver imports also surged significantly, rising 376.41% to USD 2.3 billion, contributing to a trade deficit of USD 137.44 billion.
India not looking at US-China tension as source of benefit, aims to thrive on own strength: Piyush Goyal
2 years ago
India is leveraging its democratic institutions, rule of law, and youth talent rather than seeking advantage from US-China trade tensions, Commerce and Industry Minister Piyush Goyal stated. He emphasized India’s focus on self-reliance and diplomacy for economic and trade dispute resolutions, highlighting its growing global ties.
The World Trade Organization’s dispute settlement body has agreed to another deferral on India’s import duties ruling, pushed to April 25 next year. This gives India and Taiwan more time to resolve the dispute on duties levied on information and technology products. If talks fail, Taiwan might adopt the panel filings, and India could approach […]
Spanish President Pedro Sanchez emphasizes the significant potential for a stronger EU-India partnership, focusing on advancing the EU-India FTA negotiations. He highlights Spain’s investments, renewable energy expertise, and transportation systems as key contributions to India’s infrastructure and green energy goals, promoting mutual economic growth.
Ethanol production increase in India for 2024/25 will reduce domestic sugar availability and halt exports, as 5 million metric tons of sucrose are diverted to ethanol. Net sugar production is forecasted at 27.5 million tons against a domestic consumption of 29.5 million tons, causing reduced stock levels.
Union Minister Sarbananda Sonowal reviewed projects at Pandu Port Complex, including the region’s first ship repair facility and an elevated road corridor. The government is investing Rs 645 crores in developing infrastructure along the Brahmaputra. These projects aim to boost river tourism, public transportation, and cargo movement in Northeast India.