An Indian delegation visited ports in the United Arab Emirates, including the Port of Fujairah, to discuss kickstarting the India-UAE leg of the proposed India-Middle East-Europe Economic Corridor (IMEC) with customs authorities. The visit aimed at preparing the India-UAE leg of the IMEC while awaiting peace in the region for the Israel part.
IMEC: Indian team in UAE discusses start of work on trade route
Working hard to address needs of crew of ship involved in Baltimore incident: Synergy Marine
2 years ago
Synergy Marine Group addressing crew needs of container ship Dali in Francis Scott Key Bridge incident. Crew in good health, assisting with investigation. Indian crew facing phone confiscation by probe agencies, replaced by FBI. Monitoring crew’s welfare, providing counselling 24/7. Crew awaiting permission to disembark and arrangements for return home.
Speaking at a panel discussion at CII Annual Business Summit, Jaishankar said that as far as national security goes, it is more complex with China.
India’s spice export may fall 40 pc if EtO contamination issue not resolved quickly: FISS
2 years ago
The Federation of Indian Spice Stakeholders (FISS) on Friday said India’s spice export may decline nearly 40 per cent in FY25 if the issue of ethylene oxide or EtO contamination in spices meant for exports is not addressed at the earliest. The statement came against the backdrop of Hong Kong and Singapore banning the sale […]
India’s External Affairs Minister S Jaishankar highlighted that the growing trade between India and Russia is not a passing trend but a result of emerging economic prospects. He emphasised the long-standing relationship between the two nations despite India’s stance on the Ukraine conflict. Trade has seen a significant increase with India becoming a top buyer […]
Norway’s central bank has excluded three companies from its government pension fund due to ethical concerns. Adani Ports, part of Gautam Adani’s conglomerate, is excluded due to potential violations of individuals’ rights in war situations. Weichai Power, a Chinese company, is excluded due to its involvement in armed conflict sales.
Sarbananda Sonowal, Union Minister of Ports, Shipping, and Waterways, stated that India aims to replicate the Chabahar port model in other strategic locations in the region to acquire additional assets. In an interview with ET, he emphasized that India is actively investigating opportunities to bolster its maritime presence and trade connectivity.
In New Delhi, on Thursday, FIEO President Ashwini Kumar projects India’s merchandise exports to reach USD 500-510 billion by 2024-25, with services exports expected to be around USD 390-400 billion this fiscal, driven by traditional markets like the US and Europe.
FIEO pegs FY25 goods exports at $500-510 billion
2 years ago
The apex exporters body also hasn’t ruled out dumping of Chinese goods in the wake of the US imposing high duties on goods such as EVs, batteries and high end technology products.
The US warns of potential sanctions on dealings with Iran after India signs a 10-year contract on Chabahar Port. External Affairs Minister S Jaishankar stresses the project’s regional benefits, citing past US acknowledgment. India Ports Global Ltd has operated in Chabahar since 2018 under a sanctions waiver. Despite US warnings, India aims to avoid involving […]