The Ministry of Ports, Shipping, and Waterways is set to introduce a new Shipbuilding and Repair Policy under the 100-day action plan. Ambitious goals have outlined in Maritime India Vision 2030 and Amrit Kaal Vision 2047 to elevate India’s shipbuilding industry globally. The initiative aims to revitalise the industry, increase the share of Indian-owned vessels […]
Government to soon come out with a new shipbuilding, repair policy
The port had handled 1,526,145 TEUs in the first quarter of 2023-24, Jawaharlal Nehru Port Authority (JNPA) said.
India has launched an anti-dumping probe into Chinese lift guide rails. The move comes after a complaint from a domestic company, and aims to safeguard local industry from low-cost imports. The investigation, led by the Directorate General of Trade Remedies, targets ‘T-Shaped Elevator/Lift Guide Rails and Counterweight Guide Rails.’ If proven, anti-dumping duties may be […]
India aims to clock $2 trillion goods and services exports by 2030 amid the Red Sea crisis and two ongoing wars.
Vizhinjam seaport gets its location code
2 years ago
The Vizhinjam International Seaport in Kerala has achieved a significant milestone by receiving its location code, IN NYY 1, from the Indian government on June 21, 2024. Managed by Vizhinjam International Seaport Limited (VISL), this development was highlighted by Kerala’s Ports Minister V N Vasavan in the state Assembly. The port’s new code marks its […]
India’s palm oil imports rose in June due to strong demand before festivals. Refiners played a key role, potentially impacting Malaysian palm oil futures. Sunvin Group highlighted palm oil’s competitive pricing. The country’s edible oil imports increased, with significant purchases from Indonesia, Brazil, Russia, and Ukraine.
The UNCTAD nowcast predicts a stronger positive trend for the second quarter of 2024, projecting an approximate 2% increase for the first half of 2024. This increase is expected to add around $250 billion to goods trade and about $100 billion to services trade in the first half of 2024 compared to the second half […]
Goods trade up 1% in first quarter of 2024: WTO
2 years ago
World merchandise trade volume increased by 1% in the first quarter of 2024 compared to the previous quarter, with a 1.4 per cent rise from the same period in 2023, according to the World Trade Organization (WTO). Despite Europe experiencing a decline, most regions contributed to the increase. The WTO predicts a 2.7 per cent […]
The US requests a six-month delay in India’s health certificate requirement for imported food items like milk, pork, and fish to ensure the absence of antibiotics, pesticides, and heavy metal residues.
Indian imports of Russian crude surged in June, outpacing other major suppliers. Refiners find the discounts on Urals grade appealing, with private sector involvement rising.