Udupi Cochin Shipyard Limited bags Rs 1,100 crore order for cargo vessels from Norwegian firm

2 years ago

UCSL secured a Rs 1,100 crore deal for eight 6300 TDW cargo vessels from Wilson ASA. These vessels, designed for eco-friendly operation in European coastal waters, are part of a project to be completed by September 2028. The company has also delivered tugs to Adani Harbour Services and received repeat orders from Polestar Maritime.

JSW Infrastructure seals deal; to buy Navkar Corporation

2 years ago

JSW Infra has finalized an agreement to purchase all shares held by the promoters of Mumbai’s Navkar Corporation, which operates in the container handling sector, according to a disclosure to the stock exchange. Navkar Corporation offers a range of complementary products to the ports owned and managed by the Sajjan Jindal-group company. JSW Infra will […]

Interest equalisation scheme for exporters extended for 2 months; FIEO disappointed

2 years ago

The scheme helps exporters from identified sectors and all MSME manufacturer exporters to avail of rupee export credit at competitive rates at a time when the global economy is facing headwinds. Exporters get subsidies under the Interest Equalisation Scheme for pre and post-shipment rupee export credit.

Pace of coal import growth declines from over 21 pc to below 2.5 pc in last decade: Govt

2 years ago

The annual growth rate of India’s coal imports declined to 2.49% in the past decade, down from 21.48% in the previous decade, reflecting progress towards energy self-reliance. The share of imported coal also decreased, with a compound annual growth rate of -2.29%. India aims to optimize its indigenous coal resources and leverage technology.

Europe’s green transition offers India-Bulgaria trade opportunities, says Indian envoy

2 years ago

India’s Ambassador advocates for a bilateral agreement with Bulgaria to employ third-country workers, aligning with existing agreements in Europe. This strategic move aims to enhance economic cooperation and provide skilled manpower to Bulgarian employers, further solidifying the strong economic and cultural ties between the two nations.

India, US extend digital tax on e-commerce supplies till June 30

2 years ago

Officials said while this would take care of the taxation issue for the first quarter, a final guideline for the second quarter onwards will be given in the upcoming budget in July. Both the countries had reached a deal in November, 2021 that allowed New Delhi to impose the 2% levy until March 31, 2024, […]

Russia exports major consignment via INSTC ahead of PM Modi’s Moscow trip

2 years ago

The consignment will reach Mumbai port via Bandar Abbas port in Iran, ET has learnt. “For the first time, two trains with Kuzbass coal headed to India along the International North-South Transport Corridor. The trains set off from the Kemerovo region. They followed along the eastern branch of the INSTC through Kazakhstan and Turkmenistan to […]

India allows imports of corn, vegetable oils at concessional duty

2 years ago

India has decided to permit restricted imports of corn, milk powder, crude sunflower oil, and refined rapeseed oil with concessional duty. As the largest global importer of vegetable oils, India will allow imports totaling 150,000 metric tons each of sunflower oil or safflower oil and refined rapeseed oil in the ongoing marketing year, according to […]

Five-yr extension expected for export credit scheme

2 years ago

India is expected to extend a key support scheme for export credit to boost its export sector, which has been hit hard by a slowdown in developed countries. The commerce and industry ministry has proposed an extension of the interest equalisation scheme beyond June 30, providing a 3% benefit for manufacturer micro, small and medium […]

The train from Russia: How a new route can change things for India

2 years ago

A multimodal route that includes a railway, roadway network and seaports, the INSTC spans 7,200km (4,500 miles) from St. Petersburg to the port of Mumbai in India. The corridor is part of Russia’s push to find new transport routes in light of Western sanctions, which have forced it to shift trade flows from Europe to […]

Udupi Cochin Shipyard Limited bags Rs 1,100 crore order for cargo vessels from Norwegian firm

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