It is a well-known and widely accepted datum that infrastructure is the backbone of a sound and growing economy. Amongst all infrastructure, the transport sector facilitates trade and migration, thereby raising productivity in other parts of the economy and directly contributing to the economic growth.
Japan's New Energy and Industrial Technology Development Organization (NEDO); the Ministry for Economics, Labour and Transport of Niedersachsen of the Federal Republic of Germany; EWE-Verband, an association managing the electric power supply to 17 districts and four cities in Niedersachsen, and EEW Holding have agreed to jointly implement a demonstration project on a large-scale hybrid battery system.
The Union Budget for fiscal 2018 has a progressive outlook and encourages investments with initiatives like affordable housing being given infrastructure status to avail new funding avenues. The Budget has expanded the scope for the capital and bond markets.
More than 90 per cent of IndiaÂ´s inbound and outbound cargo is moved by the freight forwarding industry. Our association is the apex body and is a national body for this industry. We are a very important link between the trade and the government as we represent the interests of the trade to the government and assist in bringing the relevant policies to the trade.
High logistical cost prevailing in India is the biggest hindrance for Indian businesses on the global level and the Ministry of Shipping will aim to reduce the cost under the Sagarmala Project, said Nitin Gadkari, Union Minister for Shipping, Road Transport and Highways, on the second day of the Maritime India Summit 2016.
To promote transshipment at Indian ports, the Shipping Ministry has allowed relaxations in cabotage rules. Cabotage is the transport of goods or passengers between two places in the same country. Transshipment is the movement of goods and containers to an intermediate destination.