Union Shipping Minister GK Vasan has stated that India has tremendous potential to become the next hub of ship building. He was speaking at the launch of INS Vikrant in Kochi on August 12. Vasan stressed the need for a vibrant shipbuilding industry and more shipyards. The Minister said that there are vibrant shipbuilding industries behind the growth of major economies like USA, some European countries, Japan and Korea.
Tag: India
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Vizag port pitched as an alternative for foreign trade
Considering the Visakhapatnam port's modern facilities and its appropriateness, stakeholders of both India and Nepal have underlined the need to open the port as an alternative port for India's foreign trade, said Sushil Mulchandani, chief operating officer of Visakha Container Terminal Private Limited. He was addressing Nepal-India Business Conclave, 'Visakhapatnam Port: Additional Gateway for NepalÂ’s Export Import Traffic.' in Kathmandu on August 11. Visakha Container Terminal is the operator
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India to get shorter sea route to reach ASEAN
To have much shorter sea route to the economically vibrant Southeast Asian region and help boost its trade and push for greater connectivity with ASEAN (Association of South East Asian Nations) countries, India is mulling on a deep-sea port in southern Myanmar. The Dawei deep sea port and special economic zone is slated to give a huge boost to connectivity and trade in the Southeast Asian region when it is commissioned in a few years. The $8-billion project is being developed jointly by Myanmar
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Petronet gets its maiden cargo at Kochi port
India's largest importer of liquid gas, Petronet LNG has received the maiden cargo liquefied natural gas or LNG at its just constructed Kochi import terminal in Kerala but the ship hasn't been able to dock at the port because of dredging issues. Petronet on August 12 received a ship carrying LNG from Qatar but the ship could not dock at the port. The ship needs a particular level of clear water depth to navigate and dock at the port.
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Countries discuss transportation of goods from Chabahar port
Iran's President Hassan Rouhani held talks with Afghanistan Vice President Hamid Ansari on transportation of goods from Chabahar port in Iran. Two Indian ports expressed interest to upgrade Chabahar port and India's External Affairs Minister Salman Khurshid held discussion with Iran on the matter
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Indian rupee may trade in 58-62 range
Indranil Sen Gupta, India Economist at DSP Merrill Lynch (India) expects the Indian currency to trade in the range of 58-62 against the US dollar at the cost of 50 basis points of economic growth. This assumes that the July 23 measures are reversed before the busy October-March season, Gupta
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Pipavav Shipyard begins construction of naval ship for Indian Navy
Nikhil Gandhi promoted Pipavav Shipyard, major private shipbuilding and offshore infrastructure company begins construction of defence naval ship for Indian Navy. This is the first time any private shipyard received a contract to build such naval ship for Indian Navy.
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AIAI welcomes the appointment of Mr. Raghuram Rajan as Governor of RBI
The appointment of Mr. Raghuram Rajan as the Governor of the Reserve Bank of India has come at the most appropriate time. Considered the right man for the job, Mr. Rajan is well known and respected for his extensive experience and deep knowledge of India's economic functioning as well as the global economy at large.
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Market linked tariff fixation likely to make port projects more attractive
The announcement of market linked tariff fixation by Shipping Ministry is likely to expedite the bidding process for various public private partnership projects at various major ports in India. Private operators have been waiting for the new tariff guidelines and are eager to place their bids for projects including container terminals at Chennai, JNPT and bulk terminals at Kandla, Goa and Vizag Port.
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GHIAL Signs first concessionaire for Free Trade Zone (FTZ) at RGIA
GMR Hyderabad International Airport Limited (GHIAL) has signed its first client for India's first airport-based Free Trade Zone (FTZ) at Rajiv Gandhi International Airport (RGIA), Hyderabad.