• Government Taking A Relook At Free Trade Agreements: Nirmala Sitharaman September 7,2016

    Government Taking A Relook At Free Trade Agreements: Nirmala Sitharaman

    New Delhi: Government is reviewing FTAs that India has signed with trading partners after the industry voiced concerns about benefits of these pacts for domestic players.

    Commerce and Industry Minister Nirmala Sitharaman said many industry representatives have conveyed that free trade agreements (FTAs) signe


     
  • Traditional inland water transport in Goa set for a boost August 10,2016

    Traditional inland water transport in Goa set for a boost

    PANAJI: Goa government is all set to revive its Portuguese-era jetties in Mandovi and Zuari rivers which will help in boosting the inland waterways, state River Navigation Minister Ramakrishna Dhavalikar has said. 

    In a written reply, Dhavalikar told the state Assembly yesterday that the department has decided to improve or renovate the existing old jetties and construct new ones. 

    The funding, of nearly Rs 95 crore, will be und

  • India's IT Exports Revenue To Grow 9-10% This Fiscal: Mohandas Pai September 7,2016

    India

    Hyderabad: The revenue growth of Indian IT exports this fiscal is likely to be slower than industry body Nasscom's projection of 10-12 per cent, according to industry veteran T V Mohandas Pai.

    "The figures could b

  • Tata Motors owned JLR invests around Rs 890 crore at its Castle Bromwich plant September 13,2016

    Tata Motors owned JLR invests around Rs 890 crore at its Castle Bromwich plant

    NEW DELHI: Tata MotorsBSE -3.29 % owned British luxury carmaker Jaguar Land Rover is going to invest £100 million (around Rs 890 crore) at its Castle Bromwich plant. The investment is meant to support the mid-sized premium sport sedan, the Jaguar XE, which will now be manufactured at Castle Bromwich from its previous Solihull plant. 

    This investment takes the total invested in the site to more than £500m (around Rs 4,450 crore) over the

  • Cabinet approves deeper tariff cuts to APTA countries September 12,2016

    Cabinet approves deeper tariff cuts to APTA countries

    NEW DELHI: The Union Cabinet on Monday allowed the government to offer deeper concessions on tariffs while trading with APTA countries comprising Bangladesh, China, India, Lao PDR, Republic of Korea, and Sri Lanka. 
    The export of soybean meal and its other value added products during August 2016 is just 10,615 tons compared to 31,157 tons in August 2015 showing a decrease of 66% over the same period of last year, according to Soybean Proce

  • China's exports fall sharply August 21,2016

    China

    BEIJING: China's exports fell sharply in the first half of 2016 compared to last year forcing the government officials to forecast a weak performance for the rest of this year.

  • LeEco to host Epic 919 Superfan Festival September 13,2016

    LeEco to host Epic 919 Superfan Festival

    New Delhi: LeEco is all set to bring its Epic online shopping festival to India and the company is looking to strengthen its customer loyalty across platforms. 

    LeEco has been hosting this festival in China and in 2015, the Epic 919 festival had become the third largest B2C online shopping festival in China, covering 20.69 million users in the week. It has set the single-brand one-day TV sales records in China's e-commerce industry. The sale is

  • Meru Cabs will now tell you your exact fare before final confirmation of the ride September 12,2016

    Meru Cabs will now tell you your exact fare before final confirmation of the ride

    While government decides to remove the surge pricing for cab aggregators like Ola and Uber, Meru cabs today launched its accurate fare calculator called 'Fare Exactometer' to maintain transparency in the increasing competitive market. 

    With this feature you will know the exact the fare of your trip before confirming your booking and the fare will be equivalent or less than the fares prescribed by the State Transport Authority for the given

  • The need for an integrated Cargo Community System September 26,2016

     The need for an integrated Cargo Community System

    Our Prime Minister, Shri Narendra Modiji, has recognised the fact that for India to achieve its true potential, and for prosperity of its citizens, we need to change the way in which we do business. This change will help us to improve our competitiveness as well as enable us to achieve our goals for growth.

     

    India as on date has the attention of all global leaders; we are poised to be the next global manufacturing hub after China. Currently,

  • Nasscom Flags Complex Billing, Invoicing Issues In GST Regime September 7,2016

    Nasscom Flags Complex Billing, Invoicing Issues In GST Regime

    New Delhi: The Goods and Services Tax (GST) regime, slated to be rolled out from April 1, 2017, should ensure that issues like complex billing and invoicing requirements and reverse charge on import of services do not impact the export competitiveness of the $110-billion sector, industry body Nasscom said on Thursday.

    Nasscom, which represents IT firms like Tata Consultancy Services (TCS), Infosys, Cognizant as well as e-commerce companies like Flipkart and Sna

  • Government Disburses Rs 1,433 Crore As Interest Subsidy To Exporters September 7,2016

    Government Disburses Rs 1,433 Crore As Interest Subsidy To Exporters

    New Delhi: The government has disbursed Rs 1,433 crore up to March under the interest subsidy scheme to exporters, the Commerce Ministry said on Tuesday.

    Announced last December, the Centre's interest equalisation scheme reduces cost of capital by allowing a three per cent interest subsidy on pre- and post-shipment rupee export credit to eligible exporters.

    "Indian exporters pay high rate of interest on the

  • Soybean meal exports decrease 66% September 7,2016

    Soybean meal exports decrease 66%

    The export of soybean meal and its other value added products during August 2016 is just 10,615 tons compared to 31,157 tons in August 2015 showing a decrease of 66% over the same period of last year, according to Soybean Processors Association of India (SOPA).
    Schedule 2 contains the following:

     

    •  General Notes to Export Policy – Goods under Restrictions

  • Shipping sector attracts $ 636 million under Make in India July 21,2016

    Shipping sector attracts $ 636 million under Make in India

    NEW DELHI: Government received investments worth $ 636.17 million (about Rs 4,272 crore) in the shipping sector under the 'Make in India' initiative. 

    "An amount of $ 636.17 million has been received up to May, 2016 in Shipping Sector under Make in India initiative since its inception in September 2014," Shipping Minister Nitin Gadkari said in a written reply to the Lok Sabha. 

    Government has taken significant

  • Adani Ports to complete terminal expansion at Mundra next year July 20,2016

    Adani Ports to complete terminal expansion at Mundra next year

    NEW DELHI: Adani Ports and SEZ aims to complete expansion of Adani International Container Terminal (AICTPL) at Mundra portBSE 1.61 % by 2017 to create a transhipment hub for the Middle East, South Asia and India. 

    The strategy is part of Gautam Adani-led Adani Group's plans to develop a world-class portfolio of ports and allied logistics facilities to capture the benefits of the country's emergence as a global container transhipment hub.&n

  • Government to increase shipping share in cargo mix to 10% by 2020 July 18,2016

    Government to increase shipping share in cargo mix to 10% by 2020

    NEW DELHI: The government is planning to increase the share of coastal shipping to 10 per cent in the modal cargo mix by 2020, which will reduce burden on rails and roads. 

    The share of waterways transportation mode in the modal cargo mix is about 7 per cent now. 

    "The government envisions increasing the share of coastal shipping in modal cargo mix to 10 per cent by 2020 from the current share so as to reduce the over-depen

  • Major Ports See Slightly Reduced Thermal Coal Handling In 5 Months September 22,2016

    Major Ports See Slightly Reduced Thermal Coal Handling In 5 Months

    The Major Ports handled 3 per cent less thermal coal, at around 43 million tonnes, during April-August 2016-17 as compared to the same period of the previous fiscal, Indian Ports Association (IPA) data showed.

     

    Coking coal handling, however, increased by 3.7 per cent during the period under review.

     

    On the volume front, Paradip Port handled the most thermal coal and Kolkata Port the highest coking co

  • KGK Diamonds, Russia's Alrosa come together to widen partnership September 7,2016

    KGK Diamonds, Russia

    KOLKATA: KGK Diamonds and Russian miner Alrosa, once again come together with an interest to widen partnerships and a step to develop the diamond industry in Russia. An 'Agreement of Intent' has been signed by both parties, during the Second Eastern Economic Forum held on September 2-3, 2016; on the creation of a diamond cutting and polishing unit in the Eurasian Diamond

  • Industry expects gold to cross Rs 32,000 by Diwali September 8,2016

    Industry expects gold to cross Rs 32,000 by Diwali

    KOLKATA: With gold prices moving up to about Rs 31,500 per 10 gm in the spot market, bullion traders and analysts said the Rs 32,000 per 10 gm mark may well be breached by Diwali. 
    NEW DELHI: The government today restricted imports of apple by allowing its inbound shipment only through Nhava Sheva port in Maharashtra. 

    NEW DELHI: India's industrial growth fell sharply in July after rising for two months, with data suggesting that the monsoon has not revived rural demand and investments are yet to pick up. 
    NEW DELHI: Director General of Foreign Trade (DGFT) Pravir Kumar today said that existing inverted duty in rubber sector is a valid concern and should be looked into earnestly. 
    KOCHI: The collapse of South Korean container shipper Hanjin has left many Indian seafood exporters worried over the fate of their cargo and how they will reach the shipments to customers. 
    KOLKATA: Rupee depreciation has just been equal to the rate of Consumer Price Index (CPI) -measured inflation, giving absolutely no advantage to the exporters on exchange rate whereas the cost of production and transactions have risen, leaving Indian exports less competitive in the international market, according to EEPC India. 
    NEW DELHI: California-based television maker Vu Technologies is aiming for the No. 4 position in the Indian high end TV market, after Samsung, Sony and LG, on the back of Curve TVs and premium UHD or ultra high definition TVs launched for the festive season. 
    NEW DELHI: The long-stalled negotiations for a free trade agreement between India and the EFTA, a bloc of four European countries including Switzerland, are expected to resume this month. 
    MELBOURNE: Describing the ongoing Free Trade Agreement (FTA) negotiations with India as "complicated", Australian Trade Minister Steve Ciobo today indicated that the deal was now not a top priority for his government in the short term. 
    KOLKATA: LG Electronics India has set up an air-conditioning academy in New Delhi with an aim to enhance and develop the skills of its personnel in the country. In a release issued by the company, LG said India is amongst the top five priority markets for the company globally. 
    KOLKATA: Sony Corp. will for the first time enter a new category only for the Indian market in the backdrop of slipping revenue growth after a global restructuring that led to the Japanese company's exit from laptops and entry-to-mid-segment smartphones. 
    KOLKATA: The Indian TV market seems to be having a Jio moment. Chinese brand LeEco may be about to trigger a price war in the large-screen, flat-panel television market by selling a 4K set at Rs 60,000, about a third cheaper than some comparable models. 
    Pakistan has not stopped Afghan traders from moving products to India through the Wagah border, authorities said after Afghan President Ashraf Ghani warned Islamabad to open the land border or lose transit route to Central Asia.

    (Repeats story published earlier with no changes to text.)

     
    * China gasoline, diesel use to drop in Q4 first time
  • UP clears Rs 2,000-crore Ramdev group project with several sops September 9,2016

    UP clears Rs 2,000-crore Ramdev group project with several sops

    LUCKNOW: Baba Ramdev's Patanjali Ayurveda Limited (PAL) is all set to launch an ambitious Rs 2,000-plus crore ($300 million) project in Uttar Pradesh. 

  • India's FMCG market is strongly supported by local companies: Study September 8,2016

    India

     

    NEW DELHI: Homegrown FMCG major DaburBSE -1.19 % today said it has changed the name of its newly acquired step down South Africa-based subsidiary Discaria Trading (PTY) Ltd to Dabur South Africa (PTY) Ltd. 
    NEW DELHI: Hyundai Motor India today launched an automatic variant of its premium hatchback Elite i20 priced at Rs 9.01 lakh (ex-showroom Delhi). 

    HOUSTON: The Saudi national oil company is making a

  • Worldwide server market revenue declines 0.8 per cent even as shipments rise 2 per cent in Q2 2016 September 14,2016

    Worldwide server market revenue declines 0.8 per cent even as shipments rise 2 per cent in Q2 2016

    PUNE: Worldwide server revenue declined marginally by 0.8 per cent in the second quarter on 2016 even as shipments grew by 2 per cent over the second quarter on 2015, according to Gartner, Inc. While Dell moved into the top position in shipments, Hewlett Packard Enterprise (HPE) remained the worldwide leader in server revenue. 

    "The second quarter of 2016 produced some continued growth on a global level compared with the first quarter, althoug

  • Dabur changes subsidiary name to Dabur South Africa August 22,2016

    Dabur changes subsidiary name to Dabur South Africa

     

    NEW DELHI: Homegrown FMCG major DaburBSE -1.19 % today said it has changed the name of its newly acquired step down South Africa-based subsidiary Discaria Trading (PTY) Ltd to Dabur South Africa (PTY) Ltd. 
    NEW DELHI: Hyundai Motor India today launched an automatic variant of its premium hatchback Elite i20 priced at Rs 9.01 lakh (ex-showroom Delhi). 

    HOUSTON: The Saudi national oil company is making a

  • GST can lower cost of logistics industry by 20 per cent: Care Ratings July 17,2016

    GST can lower cost of logistics industry by 20 per cent: Care Ratings

    MUMBAI: Logistics industry is projected to grow at a compounded annual growth rate of 15-20 per cent between 2015-16 and 2019-20 that will get a further boost if GST is rolled out from this year, which can trim costs by 20 per cent, says a report. 

    The much-delayed GST rollout can help boost the GDP by 100-200 bps as this will help faster and cheaper movement of goods across the country with a uniform taxation structure, said a report by Care Ratin

  • Hyundai launches Elite i20 automatic priced at Rs 9.01 lakh September 13,2016

    Hyundai launches Elite i20 automatic priced at Rs 9.01 lakh

    NEW DELHI: Hyundai Motor India today launched an automatic variant of its premium hatchback Elite i20 priced at Rs 9.01 lakh (ex-showroom Delhi). 

    HOUSTON: The Saudi national oil company is making a bid to significantly expand its operations in the United States at a critical moment in the always uneasy relations between the United States and India Yamaha Motor Pvt. Ltd. on Thursday announced 22% growth in domestic sales in

  • Saudi Aramco's bid on a Houston oil refinery is a big strategic bet September 13,2016

    Saudi Aramco

    HOUSTON: The Saudi national oil company is making a bid to significantly expand its operations in the United States at a critical moment in the always uneasy relations between the United States and India Yamaha Motor Pvt. Ltd. on Thursday announced 22% growth in domestic sales in August 2016. The company stated that it has sold 74868 units as compared to 61440 units sold last August.

     

     

     

  • India Yamaha Motor domestic sales rise 22% in August 2016 September 3,2016

    India Yamaha Motor domestic sales rise 22% in August 2016

    India Yamaha Motor Pvt. Ltd. on Thursday announced 22% growth in domestic sales in August 2016. The company stated that it has sold 74868 units as compared to 61440 units sold last August.

    The government has told shipping lines and their agents not to levy 25 different charges that are arbitrarily collected from cargo owners.

    India Monday will be an India-centric day, with foreign trade, consumer price inflation (CPI) and industria

  • Shipping ministry tells carriers not to collect extra charges from cargo owners September 13,2016

    Shipping ministry tells carriers not to collect extra charges from cargo owners

    The government has told shipping lines and their agents not to levy 25 different charges that are arbitrarily collected from cargo owners.

     

    India Monday will be an India-centric day, with foreign trade, consumer price inflation (CPI) and industrial production on tap. August exports and imports are expected to remain in co

  • India’s H1 tea exports up September 2,2016

    India’s H1 tea exports up


    India’s tea exports in the current calendar are expected to rise above last year in terms of both volume and value, based on the performance so far. According to the Tea Board, volume shipped in the first half of calendar 2016 rose to 97.44 million kg (mkg) from 92.13 mkg in the first half of 2015. This marked a growth of 5.76 per cent. The average price fetched by these exports increased to 191.11 a kg from <

  • Pazhayidom Caterers to enter export market with its own brand August 17,2016

    Pazhayidom Caterers to enter export market with its own brand

     

    Pazhayidom Caterers, which was offering contract-manufacturing services to many leading frozen food exporters, will soon enter the export market under its own brand, Pazhayidom Top Taste.

    The products will be first launched in the Australian market in October. “We chose Australia as the first market for exporting because the response for Kerala dishes in that market is very encouraging”, said Managing Director Pazhayidom Mohanan

  • Expert views: China Aug imports rise for first time in 22 months September 8,2016

    Expert views: China Aug imports rise for first time in 22 months

    China's August imports unexpectedly rose 1.5 percent, the first expansion in 22 months, official data showed on Thursday, suggesting domestic demand in the world's second-largest economy is picking up. Exports fell by 2.8 percent from a year earlier, less than markets had expected. That left the country with a trade surplus of USD 52.05 billion for the

     

  • FY'17 may see 7-9% IT export revenue growth: Kris Gopalakrishnan September 12,2016

    FY

    HYDERABAD: India's revenue growth in IT exports is expected to fall to single digit in the current fiscal, says industry veteran Kris Gopalakrishnan.

    When asked about industry body NASSCOM forecasting 10-12 per cent export growth, he said the growth is likely to be in the range of seven to nine per cent. But he hastened to add that it's his "guesstimate" rather than an estimate.

    2016-17 is not the most challenging year f

  • 30 years on, trial on India's 1st national waterway starts August 14,2016

    30 years on, trial on India

    NEW DELHI/VARANASI: The country's first national waterway, NW-1, from Haldia to Allahabad was notified in October 1986 and commercial transport of coal on Haldia-Farakka stretch started in 2013. But it is only now that the NDA government is moving forward to develop waterways, as it launched its first trial of cargo transport carrying 200 newly assembled Maruti cars and another 1,000 tonnes building material from Varanasi to Kolkata. 

    And this

  • Govt sets up panel on working of EXIM Bank, ECGC September 6,2016

    Govt sets up panel on working of EXIM Bank, ECGC

    Government has set up a ten-member committee to examine issues related to effective functioning of Export Import Bank and Export Credit Guarantee Corporation (ECGC). The committee, headed by the Finance Secretary, would recommend ways to strengthen functioning of these two organisations. It will examine need for capital infusion, addressing regulatory constrain

     

     

  • China Aug dollar-denominated exports -2.8% on-year,imports +1.5% Read more at: September 8,2016

    China Aug dollar-denominated exports -2.8% on-year,imports +1.5%  Read more at:

    Weakening exports continued to dog the world's second-largest economy in August but imports were a surprise bright spot, Reuters reported on Thursday, citing official data. Exports slid 2.8 percent on-year following July's 4.4 percent drop, coming in better than Reuters expectations for a 4 percent decline. Imports rose 1.5 percent on-year, reversing a 12.5 percent fall in July and beating Reuters' estimated 4.9 percent fall. That brought a trade surplus of USD 52.05 billi

  • Highest loading rate by Essar's bulk terminal at Paradip port September 7,2016

    Highest loading rate by Essar

    BHUBANESWAR: Essar Bulk Terminal Paradip Ltd (EBTPL) today claimed it has surpassed several of its own performance benchmarks in the first few months of the current fiscal and achieved the highest load rate ever recorded at Paradip port. 

    This was made possible through loading of bigger parcel sizes, faster turnaround of vessels and minimised berth stay durations. 

    "This year, our terminal has not only berthed the biggest v

  • NGT grants nod to Vizhinjam International port September 2,2016

    NGT grants nod to Vizhinjam International port

    NEW DELHI: The National green Tribunal today gave its go-ahead to the construction of the multi-crore Vizhinjam International Seaport Ltd (VISL), being developed by Kerala government in collaboration with Adani Group, saying it was crucial for economic development of the country. 

    The green panel, which refused to quash the environment clearance granted to the seaport, constituted an expert committee of seven members to look into compliance of cond

  • Centre aims reducing hydrocarbon imports by 10 percent by 2022: Dharmendra Pradhan September 13,2016

    Centre aims reducing hydrocarbon imports by 10 percent by 2022: Dharmendra Pradhan

    Oil Minister of India, Dharmendra Pradhan, on Friday talked in a roadshow in Singapore that was arranged for the financiers for reaching out to oil and gas market in India.

    The minister talked about the goals of t

  • Bumper crop may pull down olive oil prices by 20 per cent September 14,2016

    Bumper crop may pull down olive oil prices by 20 per cent

     

    NEW DELHI: Retail prices of olive oil in India are expected to fall by up to 20% due to a likely bumper crop in some key producing countries, particularly Spain, marketers such as Borges and Del Monte have said. "The promotion in retail for olive oil will go up and prices will go down by 15% to 20%," Rajneesh Bhasin, MD at Borges India, said. Olive oil prices had spiked up to 50% last year due to crop failure in olive growing countries and an increase in imp

  • Steel sector performs well in August; Import falls, export and demand rise September 11,2016

    Steel sector performs well in August; Import falls, export and demand rise

    The Indian steel industry worth more than $100 billion had a glorious time in the month of August. The exports and consumption increased whereas a decline was seen in the imports.

    According to Steel Ministry&rsquo

  • Coal India planning for coal export to bangladesh from india September 8,2016

    Coal India planning for coal export to bangladesh from india

    Coal Secretary Anil Swarup said that Coal India Limited (CIL) is in “deep consultation” with Bangladesh for coal export to bangladesh from india.

    There is a fall in demand for coal and the pitheads and power plants have a stock of over 80 million tonnes (MT) of the fuel. “We are already into it and they (CIL) are in very deep consultations with Bangladesh for exporting it,” Swarup told.

  • Coffee exports from india rise by 18.15% in April-August 2016 September 6,2016

    Coffee exports from india rise by 18.15% in April-August 2016

    Coffee exports from India have gone to 1,63,615 tonnes in April-August of 2016-17 fiscal year. Coffee board says that it is an increase of 18.15% even when rates are lower.

    India had exported 1,38,479 tonnes of coffee in the first five months of the last fiscal year. The figures of the Coffee Board show a rise in shipments of robust variety of coffee bean and instant coffee in April-August of 2016-17.

  • M-SIPS for electronic manufactuing set for revamp over Finance Ministry's subsidy concerns September 6,2016

    M-SIPS for electronic manufactuing set for revamp over Finance Ministry

    NEW DELHI: A key programme of the government, aimed at boosting electronic manufacturing, is set for a revamp after a prolonged tussle between the Department of Electronics and Information Technology and the finance ministry led to scores of investment proposals getting stuck. 

    This is after the finance ministry raised concerns over the lack of clarity in the quantum of subsidy outgo under the open-ended M-SIPS (Modified Special Incentive Package S

  • Maker of JBL audio systems, Harman International expects India business to triple in 3 years September 14,2016

    Maker of JBL audio systems, Harman International expects India business to triple in 3 years

    NEW DELHI: Harman International, the maker of JBL and Harman Kardon audio systems, expects to triple its India business in the next three years, chief executive Dinesh Paliwal told ET in an exclusive interaction. 

    Harman counts companies such as Audi, Lexus, Subaru and Toyota among its customers and gets its maximum business from connected cars, including navigation and safety systems. It has seen revenue growth in emerging markets in the last five

  • ABB commissions shore-to-ship green tech for VOC September 14,2016

    ABB commissions shore-to-ship green tech for VOC

    NEW DELHI: In line with government's Project Green Ports, ABB India has commissioned a state-of-the-art solution for shore-to-ship power supply at V O Chidambaranar Port, Tamil Nadu. 

    This solution expands the scope of the green agenda beyond renewable power to technology, which will enable ships docking at a port to plug for power instead of running on polluting diesel generators and using expensive power, the company said in a statement. 

  • Mexico is top destination for automobile exports from india September 7,2016

    Mexico is top destination for automobile exports from india

    Mexico is top destination for automobile exports from india. Exports to Mexico have seen a massive growth of 110 per cent. Increase in Nepal Imports was even more at 120 per cent for the period and the exports to UK saw a rise of 22 per cent.

    <
  • India in discussion with Russia to increase agricultural exports to russia September 3,2016

    India in discussion with Russia to increase agricultural exports to russia

    Indian government is discussing with Russia about the decrease in Indian agricultural exports to russia in last few years. The government asked for an increase in the allowed number of products and exporters in a meeting with deleg

  • Samsung's quick fix for Galaxy Note 7 is no full recharge September 14,2016

    Samsung

    SEOUL, SOUTH KOREA: Samsung plans to issue a software update for its recalled Galaxy Note 7 smartphones that will prevent them from overheating by limiting battery recharges to 60 percent. 
    NEW DELHI: Now that supplies of both imported and domestic arrivals of pulses reaching the markets, the signs of prices cooling are obvious, yet the price gap between wholesale prices and retail prices of the pulses remains stark and consumers are yet to benefit. 
    NEW DELHI: The government may soon extend to African countries a mechanism to clear payments of Indian exporters, especially pharmaceutical companies, stuck for months. 
    NEW DELHI: India's exports are turning the corner and it would start showing healthy growth in the coming months on account of gradual strengthening of global demand and hardening commodity prices. 
    UNITED NATIONS: India is on the path of becoming a "pivot" for high-tech world manufacturing even as global manufacturing growth is expected to remain low in 2016 due to weakened financial support for productive activities, a new UN report said. 
    MUMBAI: Reliance Infrastructure is upbeat on infrastructure projects in the country and aims to scale its order book back to the Rs 30,000 crore level after it shrunk to Rs 2,720 crore at the end of the June quarter. 
    KOLKATA: Moody's Investors Service expects a higher cash drain from Reliance Industries' telecom subsidiary, Reliance Jio Infocomm, as the latter's tariff plans are more aggressive than previously expected. 
    NEW DELHI: Petroleum products, including crude and some intermediate products, could be taxed under the proposed goods and services tax (GST), a move that will reduce the imperfections in the new levy and also narrow the inflationary impact of the tax. 
    NEW DELHI: Munshi Premchand's 'Namak ka daroga' was a scathing attack on British curbs on salt business, one that inspired the famous Dandi March. Seventy years after independence the NDA gover

  • China May Allow Imports Of Indian Non-Basmati Rice September 8,2016

    China May Allow Imports Of Indian Non-Basmati Rice

     China may soon grant market access to India's non-basmati rice exports, acceding to a long-pending request from New Delhi.

    The Centre had repeatedly taken up the issue of the country’s ballooning goods trade deficit with China bilaterally. India had demanded market access for products including non-basmati rice, pharmaceuticals and several fruits & vegetables among others.

    India’s goods trade def

  • BusinessLine twenty years ago today: Sugar export to be decanalised August 31,2016

    BusinessLine twenty years ago today: Sugar export to be decanalised

    The United Front Government has decided to decanalise sugar exports, breaking the monopoly of the Indian Sugar and General Industries Export Import Corporation (ISIGEC) which was the sole canalising agency until now Parliament’s approval will be sought shortly to amend the Sugar Export Promotion Act (1958) The decision to allow several players to export sugar by amending the SEPA Act has been taken by the Union Cabinet. The Food Ministry, which piloted the proposal for decanalis

  • Capt. Anoop Kumar Sharma takes charge as C&MD, SCI September 13,2016

    Capt. Anoop Kumar Sharma takes charge as C&MD, SCI

    Capt. Anoop Kumar Sharma has assumed charge as Chairman and Managing Director of The Shipping Corporation of India Ltd (SCI) w.e.f. Monday, September 12, 2016.

     

    September 19,2016

     "K" Line again chosen for Dow Jones Sustainability Asia/Pacific Index

    "K" Line has been selected again as an Asia/Pacific Index component company of the Dow Jones Sustainability Indices (DJSI), one of the leading global indices on Socially Responsible Investment (SRI). It has now been selected for 6 consecutive years since 2011, highlighted a release.

     

    DJSI is the world’s leading SRI index jointly offered by S&P Dow Jones Indices LLC of the United States and Robeco SAM AG of Switzerland. It

  • Adani Ports agrees to buy Abbot Point Bulkcoal September 20,2016

    Adani Ports agrees to buy Abbot Point Bulkcoal

    MUMBAI: Adani Ports and Special Economic Zone's(APSEZ) Australian unit has agreed to buy Abbot Point Bulkcoal (APB), a company that operates Abbot Point Coal Terminal in Queensland. 

    Under the agreement, Abbot Point Operations (APO) acquires 100% of shares in APB from Glencore Coal Queensland upon receiving certain approvals. 

    Abbot Point has currently one operating terminal named Adani Abbot Point Terminal having firm take

  • APL expands Trans-Atlantic service coverage with new Atlantic Gulf Express service September 19,2016

     APL expands Trans-Atlantic service coverage with new Atlantic Gulf Express service

    APL has announced the launch of the Atlantic Gulf Express (AGX) service—a direct Trans-Atlantic service that connects the key markets of North Europe, US South Atlantic and Gulf of Mexico.

     

    "Directly connecting the Port of Le Havre and Miami, the new AGX service will serve as a unique and market-leading Trans-Atlantic service that enables shipments across the US East Coast, North Europe and Mexico markets. It promises industry-lead

  • Asia Marine Insurance Conference on Oct. 24, 25 in Hong Kong September 20,2016

     Asia Marine Insurance Conference on Oct. 24, 25 in Hong Kong

    The 4th Asia Marine Insurance Conference will take place from October 24-25, 2016 at The Renaissance Harbour View Hotel, Hong Kong. The theme for this year’s conference is "Managing New Risks While Ensuring Sustainability".

     

    The marine insurance industry is dealing with greater challenges as shipowners and their affiliates are operating in one of the worst economic environments, with weak freights, while insur

  • Hamburg Süd receives gold rating from EcoVadis September 26,2016

     Hamburg Süd receives gold rating from EcoVadis

    Hamburg Süd has been awarded gold, the highest-possible recognition level, for its evaluation completed in July 2016 by the supply chain sustainability network EcoVadis.

     

    The scorecard, provided by independent sustainability expert EcoVadis, indicates that Hamburg Süd has achieved advanced sustainability management practice. The gold rating is based on a detailed survey of the shipping group in four areas of corporate social respons

  • L&T bags $ 100 m patrol vessel export order September 25,2016

    L&T bags $ 100 m patrol vessel export order

    Larsen & Toubro (L&T) has signed the principle contract with Vietnam Border Guard, valued at $ 99.7 million, for design and construction of high-speed, state-of-art patrol vessels in India, as well as for transfer of design and technology along with supply of equipment and material kits for construction of follow-on vessels at a Vietnam shipyard.

     

    In keeping with the government of India’s Make in India policy, complete design an

  • IndianOil & GAIL sign MoU for taking equity stake in upcoming Dhamra LNG terminal September 25,2016

     IndianOil & GAIL sign MoU for taking equity stake in upcoming Dhamra LNG terminal

    Indian Oil Corporation Ltd and GAIL (India) Ltd recently signed a MoU with Dhamra LNG Terminal Pvt. Ltd (DLTPL) for taking equity in the 5 mtpa capacity LNG Receiving, Storage and Regasification Terminal being developed at Dhamra Port in Odisha.

     

    As per the MoU, DLTPL shall be an equal Joint Venture of IndianOil and GAIL on one hand and Adani Group on the other. IndianOil and GAIL would acquire 39 per cent and 11 per cen

  • Hanjin Shipping urged to think about its seafarers September 26,2016

     Hanjin Shipping urged to think about its seafarers

    Global maritime welfare charity, The Mission to Seafarers, has offered to help Hanjin Shipping in providing welfare support to their 2,500 seafarers on board 97 containerships. The South Korean container shipping giant, the world’s seventh-largest line, filed for receivership last month, putting thousands of jobs at risk. Some port authorities are refusing entry, as the ships could be arrested on arrival, with the financial situation at such a critical stage and while funds to u

  • Incoming APM Terminals CEO Morten Engelstoft looks to continue building business with global customers September 26,2016

    Incoming APM Terminals CEO Morten Engelstoft looks to continue building business with global customers

    Mr Morten Engelstoft, currently Chief Executive of A.P. Moller Shipping Services, has been appointed APM Terminals CEO effective November 1, 2016. He succeeds current CEO, Mr Kim Fejfer, who is also Executive Board member in the A.P. Moller-Maersk Group. He will take up a new role in APM Holding A/S in Copenhagen, Denmark.

     

    Mr Engelstoft said, "I look forward to joining APM Terminals. Kim has done an excellent job and over the years, APM

  • Mandaviya discusses future development of ports in Gujarat with GMB September 26,2016

     Mandaviya discusses future development of ports in Gujarat with GMB

    The Minister of State for Shipping and Ports, Mr Mansukh L. Mandaviya, lauded the Prime Minister, Mr Narendra Modi’s vision of port-led development and said that ports have a huge potential to ensure success of Make in India. Gujarat has the highest number of ports in the country and as ports are the key to economic growth, many projects for overall development of ports and the coastline have been sanctioned by the Central government, he said during a meeting with the Gujarat Ma

  • India-Pak trade abysmally low, says industry body September 26,2016

     India-Pak trade abysmally low, says industry body

    India-Pakistan trade relations are abysmally low, accounting for less than half a per cent of India’s total global trade involving both exports and imports, apex industry body ASSOCHAM has said.

     

    Of India’s total merchandise trade of $ 641 billion in 2015-16, Pakistan accounted for a meagre $ 2.67 billion; of this, India’s exports to the neighbouring country amounted to $ 2.17 billion, or 0.83 per cent of the total Indian ou

  • Marine products to get benefits under Merchandise Exports from India Scheme September 26,2016

    Marine products to get benefits under Merchandise Exports from India Scheme

    India’s resurgent seafood industry got a major impetus with the Union Commerce and Industry Minister, Ms Nirmala Sitharaman, announcing a raft of measures, including setting up of agencies for aquaculture and fisheries in all coastal states and export incentives for marine products under the Merchandise Exports from India Scheme (MEIS), at a high-profile international seafood conference in Visakhapatnam last week.

     

    Under the MEIS, the g

  • Shipping trade expresses serious concern on traffic restrictions in & around Kolkata Port September 24,2016

     Shipping trade expresses serious concern on traffic restrictions in & around Kolkata Port

    The shipping trade in Kolkata has expressed its alarm at the city police stopping movement of all heavy vehicular traffic in and around the Port area since Saturday (September 24, 2016) morning, as per a Kolkata Police Circular dated September 20.

     

    In a communiqué with Kolkata Port authorities, Mr Ashok Janakiram, President, Association of Shipping Interests in Calcutta, said that this action by the police will have a severe impact on

  • JNPT harnessing solar energy for sustainability & reduced costs September 25,2016

    JNPT harnessing solar energy for sustainability & reduced costs

    Jawaharlal Nehru Port Trust (JNPT), India’s largest container handling facility, will now harness solar energy and reduce its dependency on conventional electricity from the grid. JNPT is installing solar power plants on several rooftops in its township and commercial premises, it said in a release.

     

    Rooftop solar plants allow the use of building roofs, an area otherwise not usable, for sustainable energy generation also ensuring financ

  • Kamarajar Port issues tender for developing FTWZ September 25,2016

     Kamarajar Port issues tender for developing FTWZ

    Kamarajar Port Ltd (KPL), India’s only corporatised Major Port, has invited applications from interested parties for developing a Free Trade Warehousing Zone (FTWZ) at the Port on DBFOT basis.

     

    As per the tender notice issued by the Port, it seeks a developer to Design, Engineer, Finance, Construct, Operate, Maintain, Market, Provide Project Facilities and Services of a FTWZ on Design-Build-Finance-Operate-Transfer (DBFOT) basis at Kama

  • Food Ministry favors cutting import duty on wheat September 18,2016

    Food Ministry favors cutting import duty on wheat

    Food Ministry is in support of reducing the import duty on wheat from current 25%  to 15% with an aim to increase the availability in the country.

    Sources tell that the government is thinking on the food ministry’s suggestion of reduction of duty as even local flour mill owners are pressing on removal of duty completely. Food Corporation of India (FCI) has bought less quantity of wheat even when

  • Shipping Ministry proposes new MCA for port sector September 22,2016

    Shipping Ministry proposes new MCA for port sector

    NEW DELHI: The Shipping Ministry on Thursday proposed a new model concession agreement (MCA) to attract more private sector investments in the development of port infrastructure. 

    According to the Ministry of Shipping, the proposed MCA will replace the existing agreement which came into existence in January 2008. 

    "The proposed MCA has taken into account the suggestions provided in various reports by Member Planning Commiss

  • India-Nigeria pact to boost Infrastructre, Energy Sectors September 28,2016

    India-Nigeria pact to boost Infrastructre, Energy Sectors

    ABUJA: India has identified infrastructure development and energy security as the key areas for cooperation with Nigeria and said these sectors would allow both countries to collaborate and benefit from each other's expertise. 

    "Infrastructure stimulation programmes launched by the government of India, like the mission to develop 100 smart cities, upgrade infrastructure development in urban and rural areas and enhance nationwide connectivi

  • In lean season, seafood exports increase by 7 per cent September 27,2016

    In lean season, seafood exports increase by 7 per cent

    KOCHI: In a sign of strong recovery, seafood exports in first five months of the current fiscal rose 7 per cent from a year ago to touch 333,832 tonnes, according to data from Marine Products Export Development Authority (Mpeda). In value terms, the year-on-year increase was 17 per cent to Rs 13,426 crore, Mpeda's provisional data for the five months to August showed. 

    "The good performance has come in the lean season, which augurs well fo

  • Government to further import 1.70 lakh tonnes of pulses September 29,2016

    Government to further import 1.70 lakh tonnes of pulses

     

     NEW DELHI: The government today approved further import of 1.70 lakh tonnes of masoor and tur dals for buffer stock to boost domestic supplies and check prices. 

    Besides, cooperatives NCCF and Nafed have been asked to sell tur and urad through their outlets in cities other than Delhi Rs 105 per kg and Rs 120 per kg, respectively. 

    The Centre has also decided to provide milled pulses to states for further distribution in the retail

  • Anti-dumping duty likely on certain Chinese steel products September 29,2016

    Anti-dumping duty likely on certain Chinese steel products

     NEW DELHI: The commerce ministry has recommended imposition of anti-dumping duty on imports of steel wire rods from China to protect the interest of domestic players from cheap in-bound shipments. 

    In its preliminary findings, the directorate general of anti-dumping and allied duties (DGAD) has recommended the duty. 
     

    DGAD has suggested that for certain Chinese companies, the duty should be the dif

  • Pakistan Inc feels aggressive Indian policies will hurt trade September 30,2016

    Pakistan Inc feels aggressive Indian policies will hurt trade

    MUMBAI: The Pakistani business community, which was hoping for normalised relations with India, feels disappointed after India said it conducted surgical strikes on terrorists in Pakistan Occupied Kashmir. The businessmen of Pakistan were keen on having cordial relationship between the countries and in the past had often gone against the advice of many government officials, top Pakistani businessmen told ET. 
     

    “Today, we feel it was o

  • WTO panel to discuss India's paper on TFA in services on Oct 6 September 30,2016

    WTO panel to discuss India

    NEW DELHI: The first meeting of a WTO panel to discuss the new concept paper floated by India on a proposed trade facilitation agreement in services will be held on October 6 in Geneva. 
     

    India is pitching for this agreement with a view to reduce transaction costs by doing away with unnecessary regulatory and administrative burden on trade in services. 


    "The Indian concept paper will be discussed

  • Leather exports slip 8% in August to $451 million October 3,2016

    Leather exports slip 8% in August to $451 million

    DELHI: Export of leather and its products dipped by about 8% in August to $451 million due to demand slowdown in the major market of European Union (EU) 
     

    “The EU market accounts for about 65% of India's leather exports and the situation there for Indian product is not good,” Council of Leather Exports Chairman Rafeeq Ahmed said. The exports in August last year stood at $490 million. Ahmed said that going by this trend, the

  • India asks China to import agri¬products like rice & sugar September 26,2016

    India asks China to import agri¬products like rice & sugar

    India has asked China to import some agriproducts like rice, sugar, maize and dried grapes to collaborate in agricultural trade. Radha Mohan Singh, Indian Agriculture Minister had a meeting with Chinese minister Qui Dongyu in the BRICS ­meet .

    “I am looking forward for more and more cooperation in agriculture and allied sectors between the two countries leading to further strengthening of bilateral relations,” Radha Mohan Singh stated. H

  • India may decide to end cotton ties with Pak October 1,2016

    India may decide to end cotton ties with Pak

    The $782 ­million cotton exports from India that were supposed to be sent to Pakistan are likely to be sent to other countries facing insufficiency of cotton. As the talks of retracting the status of Most Favoured Nation (MFN) for Pakistan are going on Indian traders are ready to alter the destination for their cotton exports.

    MFN status to Pakistan was given in 1996 for improving commerce among the two countries. Pakistan never gave the same status

  • Sri Lanka to support India’s attempts to restrict areca imports September 29,2016

    Sri Lanka to support India’s attempts to restrict areca imports

    Sri Lanka is supporting Indian government in attempts to restrict the arecanut imports. Union Minister of State for Commerce Nirmala Sitharaman, on September 26-27, had visited Sri Lanka and had been provided assurance of support on this issue.

    Sitharaman tweeted on Tuesday evening that she had talked on the topic of import of arecanut in India under ‘rules of origin’ with the government of Sri Lanka.

    Sources in Ca

  • India will probably import 2 MT wheat to increase supplies September 27,2016

    India will probably import 2 MT wheat to increase supplies

    India is most probably importing up to 2 million tonne (MT) wheat in the current year after cut in import levy on the grain. As per flour mill owners this will increase the local supply and restrict the prices.

    “Imports will increase in the coming months and reduce pressure on the domestic availability,” Prashant Dwivedi, Food Ministry Joint Secretary told in AGM of Roller Flour Millers Federation of India (RFMFI). Dwivedi stated that g

  • India wants to finalise agreement with South Africa to import pulses September 27,2016

    India wants to finalise agreement with South Africa to import pulses

    India is engaged in finalizing an agreement with South Africa for import of pulses needed to fulfill local demand and put a check on price. South Africa has sent its clauses in a draft memorandum of understanding (MoU) to India for selling the pulses and lentils (masoor dal).

    Indian Union Agriculture Minister Radha Mohan Singh had a talk with South African authority Senzeni Zokwana in the BRICS agri­meet and requested him for deciding on the final MoU as

  • DGS extends settling-in period for VGM implementation October 2,2016

    DGS extends settling-in period for VGM implementation

     

    The Directorate-General of Shipping (DGS) has extended the so-called grace period for the implementation of the verified gross mass (VGM) of container guidelines by another two months to November 30, 2016. Post the amended Solas regulation coming into force on July 1, the IMO had designated the settling-in period till September 30.

     

    The DGS elaborated on this in its Merchant Shipping Notice dated September 30, 2016:<

  • India reduces import duty on wheat, palm oil, refined oils September 26,2016

    India reduces import duty on wheat, palm oil, refined oils

    To check the rising prices of food, India has reduced import duty on wheat, crude palm oil and refined vegetable oils. On Friday, the Finance Ministry passed an order showing this effect.

    The tax on wheat import has been cut down from 25% to 10%. Centre has also reduced by 5%, the duty on import of both crude palm oil and refined edible oils taking them to 7.5% and 15% respectively.

    India is the second largest wheat produ

  • Government making plan to eliminate coal import: Piyush Goyal September 23,2016

    Government making plan to eliminate coal import: Piyush Goyal

    The government is occupied chalking out an action plan for reducing reliance imports of coal within coming 3-­4 months. This will help in utilizing the surplus fossil fuel produced by Coal India.

    “When I took charge in 2014, I was faced with the challenge of inadequate supply of fuel. But now after two years we have come to a point where we have surplus coal and we are worried how to sell the surplus,” Coal Minister Piyush Goyal stated in a g

  • India asks BRICS to grow pulses; remove agri export subsidies September 21,2016

    India asks BRICS to grow pulses; remove agri export subsidies

    Shortage of pulses keeps on recurring in India and therefore the government seeks the help of the BRICS nations. The member­ nations can grow the pulse crops and in turn these crops would help in better soil fertility and reducing malnutrition.

    “India would like to seek cooperation from member countries in helping to meet our production shortfall in crops like pulses and oilseeds,” said Agriculture Minister Radha Mohan Singh. He was addressin

  • New policy for import of marble in india will cutdown monopoly September 20,2016

    New policy for import of marble in india will cutdown monopoly

    Delhi Marble Dealers Association told that Government’s latest policy for import of various varieties of marble and travertine blocks will cut down methods of monopolistic and restrictive trade. This policy will also assure that raw material is accessible to factories.

    The restriction on the quantity of Marble & Travertine Blocks import has been ended starting from October 1, 2016. Also the difficult process to get license for 

  • Current account sees a surplus, export concerns raised September 19,2016

    Current account sees a surplus, export concerns raised

    In the first quarter of this fiscal year, India’s current account saw a surplus, stated a Finance Ministry official. He told that imports have reduced showing the unsure attitude for investment pushing the account. Period of  January-March of year 2007 was when the current account was last seen in surplus.

    RBI will unveil official data of current account for the first quarter sometime later in this month. The excess will help rupee rise, but

  • Government may ask Brazil to grow pulses, says Ram Vilas Paswan September 17,2016

    Government may ask Brazil to grow pulses, says Ram Vilas Paswan

    Ram Vilas Paswan, the Food and Consumer Affairs Minister stated that due to similar climate and soil conditions in Brazil, talks are going on to get Indian pulses grown there. Small quantities of Brown eye bean (lobia), from Brazil is bought by India already.

    Brazilian Agriculture Minister Blairo Maggi will be in India in between September 19-­21. Sources tell that Paswan and the Brazilian delegation will be having a talk.

    Pasw

  • India become one of the fastest growing Scotch whisky importer September 16,2016

    India become one of the fastest growing Scotch whisky importer

    India has emerged as one of the world’s fastest growing Scotch whisky import markets with value up 28 per cent to £43 million.

    According to Scotch Whisky Association (SWA) U.K. , the amount of exports of scotch has increased mainly because of India’s increasing demand. India claimed the position of third largest Scotch whisky importermarket with 41% upsurge in sales at 41 million bottles . France with 90.9 million bottles and

  • Kandla Port bestowed with two honours at MALA 2016 in Mumbai October 2,2016

     Kandla Port bestowed with two honours at MALA 2016 in Mumbai

    Kandla Port Trust (KPT) was bestowed with two honours at the prestigious Maritime And Logistics Awards (MALA) 2016, the seventh edition, which took place at the St. Regis in Mumbai on Wednesday, September 28, 2016.

     

    In a packed venue, which had the who’s who of the maritime, cargo and logistics sector in attendance, Kandla Port was adjudged the Port of the Year for 2015-16 for its outstanding overall performance.

    &nbs

  • Rising imports of refined edible oil import in india affects domestic refineries September 15,2016

    Rising imports of refined edible oil import in india affects domestic refineries

    Rising imports of refined edible oil import in india affects domestic refineries. Refined edible oil import in india give more profit than crude oil import and local refining. This is the reason why India’s refined edible oil imports are rising steadily and will double up to be the highest ever import in Nov15-Oct16 (current oil year).This will be badly hitting the local oil refineries.

    According to

  • High import duty on gold leads to malpractices September 14,2016

    High import duty on gold leads to malpractices

    Illegal practices have been started by few petty jewellers because of high import duty on bullion. These jewellers get no duty charges if they export the entire content of gold. Trade associations of India have taken this subject to the finance ministry asking for revaluation of the 10% levy.

    The dishonest jewellers buy bullion bars at zero levies as they seem to export same quantity of gold jewellery. Now while exporting the gold they declare the purity as

  • IPA meet held in Gandhidham October 2,2016

     IPA meet held in Gandhidham

     

    The 169th Governing Body and Annual General Body Meeting of Indian Ports Association (IPA) was held on September 30, 2016 here. It was attended by Mr Sanjay Bhatia, IAS, Chairman of IPA and Mumbai Port Trust, Mr N. Muruganandan, IAS, MD, IPA, Mr Ravi Parmar, IAS, Chairman of Kandla Port Trust, Mr S. A. C. Bose, Chairman, Visakhapatnam Port Trust, Mr Rinkesh Roy, Chairman, Paradip Port Trust, Mr M. A. Bhaskarachar, CMD, Kamrajar Port Ltd, Mr Cyril C. George, Chairman,

  • Railways launches liberalised station to station special freight rates policy October 2,2016

    Railways launches liberalised station to station special freight rates policy

    Section 32 of the Railways Act, 1989 empowers railway administration to quote Station to Station (STS) rates in respect of carriage of various commodities.

     

    The Railway Board used to issue guidelines to Zonal Railways for implementation of STS rates. The last guidelines on this subject were issued by the Board in 2002, which were in operation till 2006. In November 2015, the Zonal Railways were advised to exercise power vested with them to qu

  • India, Iran & Afghanistan stress on expeditious development of Chabahar hub October 2,2016

    India, Iran & Afghanistan stress on expeditious development of Chabahar hub

    A trilateral meeting was held last week between the Minister of Road Transport, Highways and Shipping, Mr Nitin Gadkari, Minister of Transport and Civil Aviation, Afghanistan, Dr Mohammadullah Batash and Minister of Road and Urban Development, Iran, Dr Abbas Ahmed Akhoundi, in the capital, where the focus was on the Trilateral Agreement on Establishment of International Transport and Transit Corridor, i.e. Chabahar Agreement which was signed by the three countries on May 23, 2016 in T

  • CMA CGM & Rodolphe Saadé bag key awards October 2,2016

    CMA CGM & Rodolphe Saadé bag key awards

    CMA CGM bagged two key awards at the Lloyd’s List Global Awards held last week in London.

     

    According to a company release, it was honoured with the two highest distinctions of the ceremony:

     

    * CMA CGM received the Company of the Year award

     

    * Rodolphe Saadé was declared as Newsmaker of the Year

     

  • MOL takes delivery of cutting-edge methanol carrier October 2,2016

     MOL takes delivery of cutting-edge methanol carrier

    Mitsui O.S.K. Lines (MOL) has announced the delivery of the 50,000-DWT methanol carrierManchac Sun at Minaminippon Shipbuilding Co.

     

    The Manchac Sun stands as a cutting-edge "eco-ship", as one of the world’s first series of vessels equipped with 2-stroke dual-fuelled low-rev main engine capable of running on methanol which is a biodegradable, clean burning marine fuel. Methanol significantly re

  • FFFAI organises EC meeting & AGM in Madurai October 2,2016

     FFFAI organises EC meeting & AGM in Madurai

    The Federation of Freight Forwarders’ Associations in India (FFFAI) held its 6th Executive Committee meeting and 53rd AGM in Madurai on September 16 and 17, 2016, respectively. The meeting was attended by more than 100 members representing the respective 27 Custom Broker Associations, which are the members of FFFAI, from across the country.

     

    On this occasion, Mr K. Vaitheeswaran, renowned Advocate and Tax Consultant, made a presentation

  • India extends MIP on steel imports to December 4 to curb cheap shipments October 5,2016

    India extends MIP on steel imports to December 4 to curb cheap shipments

    India has increased the timeline on MIP on imports steel products for two more months on Tuesday to safeguard the domestic industry from cheap imports, especially from China.

    The minimum import price (MIP) was brought in February for six months. The government had taken such an action first time in last 15 years. First time this MIP was extended from August to October 4. The second increment in timeline was declared by the government on Tuesday. India is sup

  • Call for global e-trading platform welcomed September 19,2016

     Call for global e-trading platform welcomed

    The U-Freight Group (UFL), the Hong Kong-headquartered international freight service and logistics group, has welcomed the call for the establishment of an electronic world trade platform (eWTP) whose objective would be to reduce barriers to make it easier for small and medium-sized enterprises to expand their trading capabilities worldwide.

     

    The call was made recently by Mr Jack Ma, Executive Chairman of e-commerce giant Ali

  • Nepal trade assured all support for moving cargo thru’ HDC September 19,2016

    Nepal trade assured all support for moving cargo thru’ HDC

    On September 10, 2016, Haldia Dock Complex (HDC), Kolkata Port Trust, organised an interactive session with various stakeholders associated with import/export of Nepal cargo through HDC. The session was presided over by Mr G. Senthilvel, Deputy Chairman of HDC, with participation from Mr Eaknarayan Aryal, Consul General of Nepal, Dr N. K. Soren, Commissioner of Customs (Port), Kolkata and Mr Sharad Verma, Chief General Manager, CONCOR, Eastern Region.

     

  • Cathay Pacific carries more cargo in Aug. 2016 September 19,2016

     Cathay Pacific carries more cargo in Aug. 2016

    Cathay Pacific Airways has released combined Cathay Pacific and Dragonair traffic figures for August 2016 that show an increase in the amount of cargo and mail uplifted compared to the same month last year.

     

    The two airlines carried 153,733 tonnes of cargo and mail in August, an increase of 3.8 per cent compared to the same month last year. The cargo and mail load factor rose by 2.7 percentage points to 63.3 per cent. Capacity, measured in av

  • Australia continues its 'ambitious bilateral agenda' with India September 20,2016

    Australia continues its

    Despite a flurry of media reports suggesting a serious rethink, Australia continues to actively pursue the finalisation of a Free Trade Agreement (FTA) with India. There seem to be two sticking points: India's high tariff rates and whether Australia would ever export uranium to India. 

    With some government officials recently expressing frustration over the slow pace of the negotiations, doubts are being raised 

    w

  • Tourism Secretary reviews progress of Cruise Passenger Facilitation Centre project at Chennai Port September 20,2016

     Tourism Secretary reviews progress of Cruise Passenger Facilitation Centre project at Chennai Port

    Mr Vinod Zutshi, IAS, Secretary, Ministry of Tourism, Govt. of India visited Chennai Port on Monday, Sept. 19, 2016, and reviewed the progress of the Cruise Passenger Facilitation Centre project.

     

    He was accompanied by Mr Cyril C. George, Chairman, Mr P. Shanmuganathan, Chief Mechanical Engineer, Mr C. Harichandran, Secretary, Mr B. Vimal, Traffic Manager i/c and Mr R. Prabakar, Senior DTM (Marketing), Chennai Port Trust, informed a release.<

  • KWE India launches country’s first dedicated GDP-compliant warehouse in Hyderabad, exclusively for pharmaceutical industry September 19,2016

     KWE India launches country’s first dedicated GDP-compliant warehouse in Hyderabad, exclusively for pharmaceutical industry

    KWE India, the Indian subsidiary of Kintetsu World Express (KWE) and part of the Japanese global conglomerate Kintetsu Group, has unveiled India’s first Good Distribution Process (GDP) warehouse at the Hyderabad airport cargo satellite building to exclusively handle pharmaceutical logistics. KWE India Managing Director, Mr Mineo Suzuki, inaugurated the facility earlier this month, informed a release.

     

    Strategically located at the countr

  • APSEZ enhances operational foothold September 20,2016

     APSEZ enhances operational foothold

    Abbot Point Operations Pty Ltd (APO), an Australian subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ), has entered into an agreement to acquire ownership of Abbot Point Bulkcoal Pty Ltd (APB), an Australia-registered company performing the operations and maintenance activities of Abbot Point Coal Terminal in Queensland, Australia. Under the said agreement, APO acquires 100 per cent of shares in APB from Glencore Coal Queensland Pty Ltd upon receiving certain approvals.

  • DP World engages thousands of employees for global green initiative September 20,2016

     DP World engages thousands of employees for global green initiative

    DP World is building on the past two years’ successful collaboration with the world’s leading port operators to engage communities and people across its international portfolio in promoting environmental awareness.

     

    The ‘Go Green Week’, from September 12-19, 2016, was a global campaign that addressed three main ecological areas—Reuse and Recycle, Climate Change and Community—through different activities tha

  • CMA CGM enters new African development phase September 20,2016

    CMA CGM enters new African development phase

    CMA CGM’s Vice-Chairman, Mr Rodolphe Saadé, has inaugurated a unique training course tailored for its future African executives on September 20, 2016, it is learnt.

     

    With the launch of this new African development phase, CMA CGM will advance the skill sets of its African management team by creating a new training programme in collaboration with the CMA CGM Academy, the French Business School KEDGE and the ARSTM in Abidjan (Academ

  • CONCOR celebrates Customer Day 2016 September 20,2016

     CONCOR celebrates Customer Day 2016

     

    The Container Corporation of India Ltd (CONCOR) celebrated Customer Day on September 10, 2016 at the Air Force Auditorium, New Delhi.

     

    The occasion was graced by distinguished guests and esteemed customers, including representatives from shipping lines, forwarders, shippers, consignees and domestic users, besides CONCOR officials.

     

    The function was presided over by Mr Anil K. Gupta,

  • HTOA elects new Executive Committee September 20,2016

    HTOA elects new Executive Committee

    HTOA had its 9th AGM at The Leela, Mumbai on September 10, 2016 followed by biennial elections. Mr Bharat C. Gandhi was unanimously declared as Chairman of Hydraulic Trailer Owners Association (HTOA) for 2016-18. He succeeds Mr Manish Kataria. HTOA achieved new heights in the past 2 years.

     

    The other office-bearers elected were Mr Ramratan Agarwal as Vice-Chairman, Mr Jignesh Patel as General Secretary, Mr Pardeep Bansal as Joint General Secr

  • Global Terminal Operators Opts For M&A Activity : Drewry September 21,2016

    Global Terminal Operators Opts For M&A Activity : Drewry

    LONDON: Global container terminal operators have taken their foot off the pedal when it comes to greenfield projects, carriers especially so, and are instead looking for growth, risk mitigation and opportunities through M&A activity, according to shipping consultancy Drewry.

     

    The change of gear and strategies comes amid a change in the nature of their market environment changes due to slowing growth, bigger ships and larger liner alliance

  • L&T bags $ 100 m patrol vessel export order September 26,2016

     L&T bags $ 100 m patrol vessel export order

    Larsen & Toubro (L&T) has signed the principle contract with Vietnam Border Guard, valued at $ 99.7 million, for design and construction of high-speed, state-of-art patrol vessels in India, as well as for transfer of design and technology along with supply of equipment and material kits for construction of follow-on vessels at a Vietnam shipyard.

     

    In keeping with the government of India’s Make in India policy, complete design an

  • DP World adds two new routes to its Container Rail Road Services portfolio September 26,2016

    DP World adds two new routes to its Container Rail Road Services portfolio

    DP World-operated Container Rail Road Services (CRRS) has added two new rail services to its portfolio. These services have been launched with the aim of increasing connectivity between Jawaharlal Nehru Port with Kanpur, and Mundra with ICD Bawal, Rewari district in Haryana.

     

    The services operate on eco-friendly and energy-efficient modes of transport, which warrant reduction in costs through railroad and further ease congestion at ports and

  • IndianOil & GAIL sign MoU for taking equity stake in upcoming Dhamra LNG terminal September 25,2016

     IndianOil & GAIL sign MoU for taking equity stake in upcoming Dhamra LNG terminal

    Indian Oil Corporation Ltd and GAIL (India) Ltd recently signed a MoU with Dhamra LNG Terminal Pvt. Ltd (DLTPL) for taking equity in the 5 mtpa capacity LNG Receiving, Storage and Regasification Terminal being developed at Dhamra Port in Odisha.

     

    As per the MoU, DLTPL shall be an equal Joint Venture of IndianOil and GAIL on one hand and Adani Group on the other. IndianOil and GAIL would acquire 39 per cent and 11 per cen

  • Kamarajar Port issues tender for developing FTWZ September 25,2016

     Kamarajar Port issues tender for developing FTWZ

    Kamarajar Port Ltd (KPL), India’s only corporatised Major Port, has invited applications from interested parties for developing a Free Trade Warehousing Zone (FTWZ) at the Port on DBFOT basis.

     

    As per the tender notice issued by the Port, it seeks a developer to Design, Engineer, Finance, Construct, Operate, Maintain, Market, Provide Project Facilities and Services of a FTWZ on Design-Build-Finance-Operate-Transfer (DBFOT) basis at Kama

  • KPT invites EoI for setting up RoRo facilities September 25,2016

    KPT invites EoI for setting up RoRo facilities

    Kandla Port Trust (KPT) has invited Expression of Interest (EoI) for setting up Roll-on Roll-off (RoRo) facilities for operations from Kandla to Vadinar and other ports in western India for handling vehicles (cars/trucks) and movement of passengers.

     

    According to a KPT tender notice, with the aim of bringing all prospective participants together on an equal footing, a conference has been scheduled on October 6, 2016 at the KPT Board Room, Gan

  • Chubb launches marine service capabilities in China September 26,2016

    Chubb launches marine service capabilities in China

    Chubb recently announced the launch of its marine service capabilities in China, which include a broad range of specialised and customised insurance solutions to meet the needs of importers, exporters and transport operators. The new marine service capabilities were introduced to the local insurance community, including marine brokers and industry practitioners, at seminars in Shanghai and Beijing hosted by several members of Chubb management in China, said a release.

  • JNPT harnessing solar energy for sustainability & reduced costs September 25,2016

    JNPT harnessing solar energy for sustainability & reduced costs

    Jawaharlal Nehru Port Trust (JNPT), India’s largest container handling facility, will now harness solar energy and reduce its dependency on conventional electricity from the grid. JNPT is installing solar power plants on several rooftops in its township and commercial premises, it said in a release.

     

    Rooftop solar plants allow the use of building roofs, an area otherwise not usable, for sustainable energy generation also ensuring financ

  • Kamarajar Port incentivising coastal automobile movement September 25,2016

    Kamarajar Port incentivising coastal automobile movement

    In keeping with the Ministry of Shipping’s vision for coastal shipping, tourism and regional development, the objective being to increase the share of coastal shipping in the modal mix from 7 per cent to 10 per cent by 2019-20, the Board of Directors of Kamarajar Port Ltd (KPL) has approved concessional wharfage rates for handling coastal automobile movement between Kamarajar Port and other Indian ports.

     

    Further, KPL is examining a pro

  • Ministry of Shipping proposes new Model Concession Agreement for port sector September 25,2016

    Ministry of Shipping proposes new Model Concession Agreement for port sector

    The Ministry of Shipping has proposed a new Model Concession Agreement (MCA) for the port sector. The proposed MCA will replace the existing MCA which came into existence in January 2008. The proposed one has taken into account the suggestions in various reports by Member Planning Commission (2010), Indian Ports Association (IPA-2015) and Kelkar Committee Report (2015).

     

    The objectives of the revised Model Concession Agreement are the followi

  • Vedanta inks concession agreement to redevelop berths at Mormugao Port September 25,2016

     Vedanta inks concession agreement to redevelop berths at Mormugao Port

    Vedanta, a global leader in mining, commodities and energy, last week signed a concession agreement for redeveloping Berths 8 and 9 at Mormugao Port in Goa. It was inked by Mormugao Port Trust (MPT) and Vedanta’s Goa Seaport Pvt. Ltd, in the presence of the Union Shipping Minister and the Chief Minister of Goa, it is learnt.

     

    The project is on Design, Build, Finance, Operate and Transfer (DBFOT) basis, for which the company had received

  • East Coast Economic Corridor gets ADB boost September 25,2016

     East Coast Economic Corridor gets ADB boost

    The Asian Development Bank (ADB) has approved $631 million in loans and grants to develop the first key 800-km section of a planned 2,500-km-long East Coast Economic Corridor that will spur development on India’s eastern coast and create seamless trade links with other parts of South and South-East Asia.

     

    It said in a release that the Visakhapatnam-Chennai Industrial Corridor section of the East Coast Economic Corridor, connecting four

  • Agility joins Maersk Line’s Carbon Pact initiative to cut CO2 emissions September 26,2016

    Agility joins Maersk Line’s Carbon Pact initiative to cut CO2 emissions

    Agility Logistics, a leading global logistics provider, has signed an agreement with Maersk Line, to cut CO2 emissions by 15 per cent per container transported for Agility shipments by 2020.

     

    The agreement is part of Maersk’s Carbon Pact Challenge, an initiative under which Maersk Line and its key customers work together to drive down harmful emissions and reduce the environmental impact of container shi

  • ICD Bawal commences export services September 25,2016

    ICD Bawal commences export services

    Sanjvik Terminals Pvt. Ltd, the promoter of ICD Bawal, has announced the flag off of the first export train to Mundra Port. The rake departed the ICD on September 16, 2016 at 1920 hours carrying 90 TEUs of export containers.

     

    ICD Bawal has a weekly service scheduled every Friday evening for Mundra and every Tuesday for Pipavav. The facility boasts of separate domestic and ex-im cargo handling areas having equipment of international standard.<

  • DB Schenker gets high rating among global 3PLs September 26,2016

    DB Schenker gets high rating among global 3PLs

    In the Gartner "Magic Quadrant for Global Third-Party Logistics Providers (3PL), Worldwide" report (by Greg Aimi, James Lisica, David Gonzalez, Courtney Rogerson), DB Schenker was positioned the highest for Ability to Execute in the Leaders quadrant.

     

    Gartner produces independent research and market analysis reports, which are later used by thousands of companies and government agencies worldwide. In the Magic Quadrant for Global Th

  • New guides for strengthening effective implementation of IMO’s energy-efficiency regulations for ships rolled out at GloMEEP training September 26,2016

    New guides for strengthening effective implementation of IMO’s energy-efficiency regulations for ships rolled out at GloMEEP training

    National experts from 10 GloMEEP Lead Pilot Countries (LPCs) were recently trained in the use of the three guides: Rapid Assessment Guide for determining the country’s maritime energy-efficiency and emissions status (Guide 1); Guide for maritime energy efficiency strategy development (Guide 2); and Guide for incorporation of MARPOL Annex VI into national law (Guide 3).

     

    Three new guides that will support states to effectively implement

  • Shipping Ministry Proposes New MCA For Port Sector To Attract More Investments September 26,2016

    Shipping Ministry Proposes New MCA For Port Sector To Attract More Investments

    NEW DELHI: The Shipping Ministry proposed a new model concession agreement (MCA) to attract more private sector investments in the development of port infrastructure.

     

    According to the Ministry of Shipping, the proposed MCA will replace the existing agreement which came into existence in January 2008.

     

    “The proposed MCA has taken into account the suggestions provided in va

  • Cargo successfully moved by rail from China to France alongside Silk Road September 26,2016

     Cargo successfully moved by rail from China to France alongside Silk Road

    GEODIS is the company that manages the rail transport between Wuhan in central China and the city of Lyon in France for KAPORAL, the Marseille-based designer jeans manufacturer. In June, the first shipment left Wuhan by train, and arrived at Venissieux-Saint-Priest near Lyon, having traveled 11,300 km in 18 days, alongside the legendary Silk Road.

     

    This new service enables KAPORAL to reduce its transport time, costs and environmental footprin

  • DP World to advise Azerbaijan govt on developing Free Trade Zone September 26,2016

     DP World to advise Azerbaijan govt on developing Free Trade Zone

    DP World has entered into an advisory agreement with the Azerbaijan Ministry of Economy and the Port of Baku to develop a framework for the Alyat Free Trade Zone in Azerbaijan.

     

    The future business hub is planned to become part of a network of economic zones in the country, to develop the economy and form part of the Eurasian trade corridor.

     

    DP World’s international experience and expertise in

  • Brexit provides India chance to hike trade with UK: Navtej Sarna October 9,2016

    Brexit provides India chance to hike trade with UK: Navtej Sarna

    LONDON: Britain's decision to leave the European Union has provided India a chance to increase its trade with the UK, India's outgoing High Commissioner to the country Navtej Sarna has said. 

     

    "There is a mind-shift in the UK government towards India and Britain's decision to part with the EU has provided India a chance to hike its trade with the UK," Sarna, who is leaving for Washington as India's ambassad

  • Have expectations grounded in reality: Foreign Secretary S Jaishankar to Japanese firms October 6,2016

    Have expectations grounded in reality: Foreign Secretary S Jaishankar to Japanese firms

    NEW DELHI: Suggesting a localised investment approach to Japan to yield better results, Foreign Secretary S Jaishankar today asked Japanese companies to have expectations that are grounded in the Indian reality. 
     

    "India is India. I would not necessarily defend everything in India which goes right or wrong. But it is important for Japanese companies to understand that their expectations must be grounded in the Indian reality. Surely In

  • Government asks industry to use trade pact with Japan to reduce deficit October 7,2016

    Government asks industry to use trade pact with Japan to reduce deficit

     

    NEW DELHI: The government has asked industry to help reduce India’s widening trade deficit with Japan by making more effective use of the Comprehensive Economic Partnership Agreement (CEPA) with the country. "There are opportunities for Indian companies to utilise this agreement much more as trade deficit is a matter of concern,” commerce and industry minister Nirmala Sitharaman said on Thursday. The minister was addressing a seminar organised by the

  • Essar Ports handles 18.27 mn tonnes cargo in July-September October 21,2016

    Essar Ports handles 18.27 mn tonnes cargo in July-September

    NEW DELHI: Essar Ports LtdBSE 0.15 % (EPL) today said its cargo handling grew by 35 per cent to 18.27 million tonnes (MT) in the July-September quarter this fiscal from 13.55 MT in the year-ago period. 

    "Third-party cargo handling has risen by 106 per cent to 1.03 MT in July-September compared to 0.5 MT in the same period a year-ago. Over the quarter, the various terminals of the company handled 209 ships as against 179 ships in the corresponding period last year,&quo

  • Higher output, lower prices of Indian soymeal increase export chances October 7,2016

    Higher output, lower prices of Indian soymeal increase export chances

    India has a good chance of re entering its soya into the world market as with a good crop this year the local prices of soya will be coming down.

    As the crop of soyabean was poor in last two years, the domestic prices had surged making the Indian soya exports unfeasible. India therefore could not export to countries such as Japan and Thailand and China which is a major player in world soyabean market took over.

    The local

  • Govt puts conditions on ports for metallic scrap import October 9,2016

    Govt puts conditions on ports for metallic scrap import

    The commerce ministry has decided that the sea ports which have been allowed to import un-shredded metallic scrap need to compulsorily have radiation portal monitors and container scanners with required security.


    The Indian exporters are earning well from the small cardamom shipments. As the exporters are earning good rates,so the earnings from the spice are same as the previous fiscal year even when the crop is low in volume. India in 2015-16, had a great crop and hence had been able to ship a high of 5500 tonnes of the spice valu

  • Banana, pomegranate exporters show interest in Chinese market October 11,2016

    Banana, pomegranate exporters show interest in Chinese market

    As the Indian exporters want to sell their bananas and pomegranates the center has started working to get China market open for selling the same.

    The Agricultural and Processed Foods Export Development Agency (APEDA) has begun with the pest risk analysis for banana and pomegranates for entering the market of China.

    Indian tops the banana production in the globe with 30% of the world crop. However, the exports are only 1 % of t

  • Export incentive package being considered for ‘made-up’ sector October 24,2016

    Export incentive package being considered for ‘made-up’ sector

     

    The government is contemplating an individual incentive package specially for the made­-up sector . This sector was secluded in the Rs 6,000 crore package that was given for the betterment of  the textile sector in June this fiscal.

    Union Textiles Minister Smriti Zubin Irani stated at the Cotton Textile Export Promotion Council (Texprocil) award ceremony that “Made­up is in active consideration for a special package in our ministry and is on the t

  • Cashew exports fall 25% in last six months October 23,2016

    Cashew exports fall 25% in last six months

    Cashew kernel exports are in the declining trend this year because of the expensive pricing and decreasing availability. The Cashew exports of India decreased in April-September 2016 by 25% to 36895 tonnes valued at Rs 2138 crore when compared with previous year. As per the Cashew Export Promotion Council of India, a 13% drop is seen in the value.<