Emerging economies are heavily investing in infrastructure development for a positive economic growth trajectory. The current economic dynamics in India suggest that infrastructure will give a major push to the overall development of the country´s economy in the long run.
Tag: Ports
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Bridging the gap
E-commerce has revolutionised the retail logistics in our country. It has opened up big opportunities in supply chain management. Definitely, this is a positive development for the logistics sector.
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Govt plans Rs.5000-cr mega port in TN
To reduce India´s dependence on Colombo and Singapore ports for handling cargo traffic, the Modi Government is planning to build a mega transshipment hub at a cost of over Rs.5,000 crore. The transshipment hub is expected to come up near Tuticorin in Tamil Nadu around the international trading route.
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Govt plans to offer 850 ports for development to private sector
With an aim to scale up inland waterways infrastructure, the government is planning to offer 850 small and medium sized ports along key rivers for development by the private sector including foreign investors. This could see an investment of nearly Rs 4,000 crore.
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Govt eyes Rs.2,500 cr profit from ports in two years
Union minister Nitin Gadkari has said the Centre is targeting a net profit of Rs 2,500 crore from its 12 major ports in the next two years. Shipping and waterways would contribute at least one per cent to the country´s GDP by March 2016, he added.
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Major Overhaul
India has a coastline of 7,517 km, with 12 major ports and 200 notified non-major (minor or intermediate) ports along the coastline. Out of the 200 notified non-major ports, up to 2013-14, only 61 were reported to have been handling cargo brought through maritime routes.
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Rs.400 cr project for waterways; 7 major ports on anvil
To boost waterways, the government has prepared a Rs 400 crore project under which the centre will provide subsidy of 50 per cent to states to build floating jetties, Road Transport and Highways Minister Nitin Gadkari has said.
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Port development: Financial support to be sought from Centre
Financial support would be sought from the Union government to develop all ports, Karnataka State Minister for Ports Baburao Chinchanasur said. A
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Stevedores oppose new policy
The announcement by the Centre to introduce a new stevedoring policy in all government-owned ports to allot permits to stevedores and shore handling agents through bids on revenue sharing basis for cargo handling operations has kicked up a ontroversy.
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SETTING SAIL
Over the past few years, maritime industry has been the centre of focus for the country´s EXIM trade. Indian ports and shipping play a vital role in sustaining the country´s growth in trade and commerce.