In order to ensure cost-efficiency and expeditious trading between the two countries, India and Bangladesh decided to develop their land ports. This decision was taken at a recent meeting of the Joint Working Group. Officials from both the countries held the 8th meeting of the India-Bangladesh Joint Working Group on Trade. As part of this plan, India will spend Rs 4.67 bn to develop seven import tax stations at Agartala, Petrapole, Dhok
Tag: trade
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Shipping industry oppose various charges at ICTT
Shipping industry sources allege that the charges collected by DP World for its various services offered by it at Vallarpadam ICTT (International Container Transshipment Terminal) may drive away trade from Kochi. DP World, which operates the terminal, is said to be collecting Rs 500 per 20 ft container for the pre-shipment facility, against the earlier Rs 22 per container at th
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Siemens to set up conveyor systems
Siemens will set up conveyor systems to carry iron ore from the stockyard belonging to Rio Tinto in Australia to the loaders at a port in the northwest region of the country. Siemens roped in an engineering firm Sinclair Knight Merz to provide conveyor systems for the project. Siemens would commission three conveyors in August and another five in 2014 while delivery is underway for t
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Bangladesh govt refuses access to Chittagong port
Bangladesh government refused to allow India to access Chittagong port unless the latter resolves Teesta river issue. Giving access to Chittagong would benefit trade and development in IndiaÂ’s northeast region, as well as to Bangladesh. India had been asking for access to this port for over a decade. An agreement to this effect was supposed to be signed during Prime Minister Manmohan SinghÂ’s visit to the country in September. But this could not happen because West
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Ore volume at PPT rises 329%
Paradip Port Trust (PPT) handled 329 percent more iron ore at 7.65 lakh ton during April-May 2013 compared to 1.78 lakh ton in the year-ago period. The strong growth in ore throughput from the port has given rise to hope of a revival in its export, which has been dwindling for the past couple of years. During the two months, the port witnessed rise in throughput in some other cargoes as well. The other item
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Call for reviving coastal shipping in VRV region
Business groups in the Visakhapatnam-Rajahmundry-Vijayawada region must revive the coastal shipping and inland waterways sector, Gravity 2.0, a forum of entrepreneurs in the region feel. Earlier, the region was known for its shipping and trade on the sea and also shipbuilding industry. However, with the passage of time, interest in it has dimin
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Shares of Gujarat Pipavav Port change hands
Recently, a bunch of shares of ` Port changed hands in the Bombay Stock Exchange (BSE). On May 13, 2013, a bulk deal of 2.80 lakh shares of the firm was executed at Rs 47.50 per share. On the same day, another bulk deal of 11.62 lakh shares was struck, reports suggest. The small-cap company has an equity capital of Rs 483.44 crore. Face value per share is Rs 10
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AP ports lose share in pharma exports to western ports
PV Appaji, Director General of the Pharmaceuticals Export Promotion Council of India (Pharmexcil) informed that many Andhra Pradesh-based pharma companies preferred Western ports, mainly JNPT, to export their drugs. This lead to a fall in drug volumes handled by ports in Andhra Pradesh. Pharma exports from ports in the state declined to 18 percent as compared to 22 percent in 201
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Ore output in Odisha may rise in FY14
A news agency reported that Odisha may produce around 65 million tonne (mn t) of iron ore in 2013-14, which is about 5 percent more than the 62 mn t produced in the previous financial year. It may be noted that Odisha is the biggest producer of iron ore in the country. The state government expect higher ore production after it allowed miners in the two high
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Coal stock rises across several ports
Data from Interocean Group shows that coal stock across several ports in the country grew 5.8 percent to about 10.8 million (mn t) as of May 3 compared to 10.27 mn t in the previous week. The stock includes both thermal and coking coal. Of the 10.8 mn t, coking coal comprised 2.30 mn t, up from about 2.24 mn t a week ago. The company collected data from 16 ports across the country