Lok Sabha passes Bill to manage, operate ports better

Lok Sabha on Wednesday passed a bill that seeks to provide greater autonomy in decision-making to 12 major ports in the country and professionalise their governance by setting up boards. The Major Port Authorities Bill, 2020, seeks to repeal the Major Port Trusts Act of 1963. The bill aims to provide for regulation, operation and.

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India-Arab economic ties needs boost to match strategic ties: MEA official

The economic relations between India and the Arab countries have to be stepped up to match the strategic partnership and bilateral understanding at the political level, a senior MEA official said on Tuesday. Sanjay Bhattacharyya, Secretary, Consular, Passport and Visa (CPV) and Overseas Indian Affairs (OIA) in the Ministry of External Affairs, said the key elements of India-Arab countries’.

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India engages with Iran on Chabahar-Zahedan railway project

The Modi government on Monday asserted that it remains engaged with Iran on the Chabahar-Zahedan railway project as part of its connectivity initiatives in the region. During the visit of the Prime Minister to Iran in May 2016, a MoU was signed between Indian Railways’ IRCON and Iranian Railways’ CDTIC (Construction & Development of Transportation.

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Cabinet nod sought for 2 industrial areas, multi-modal logistics hub

The Department for Promotion of Industry and Internal Trade has sought cabinet nod for two industrial areas and one multi-modal logistics and transport hub, work on which is proposed to begin by next year. The department has sought the approval of the Cabinet Committee on Economic Affairs (CCEA) for the 2,500-acre Krishnapatnam industrial area in.

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Tariff, non-tariff measures to protect India’s interests: Piyush Goyal

Commerce and industry minister Piyush Goyal informed Lok Sabha on Monday that the government has implemented several measures including tariff and non-tariff measures to safeguard the interest of the country’s private and public sector firms and to enable them to sell their products in global markets at competitive prices. “Tariff and non-tariff measures have been.

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Government to sell shares in Mazagon Dock in October

The Central government will hold an Initial public offering for shares in India’s biggest warship builder — Mazagon Dock Shipbuilders Ltd — next month, buoyed by a recent government announcement restricting import of 101 weapons and military platforms by 2024 to boost defence production locally as part of the Make in India policy, government officials.

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Stringent checks for imports under FTA from September 21

In what will further curb misuse of Free Trade Agreements by China or Asean nations like Thailand, Vietnam, Malaysia and Indonesia, the government will closely monitor Rules of Origin norms for imports of goods like mobile, white goods, set-top box, agarbatti, camera and other electronic products from September 21st. The customs department will ensure that.

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India received $20 billion in FDI during COVID-19 pandemic: Harsh Shringla

India has received over USD 20 billion in FDI amid the coronavirus pandemic, Foreign Secretary Harsh Vardhan Shringla said on Tuesday, showcasing the country as one of the most attractive destinations for investment globally. In a virtual address at a CII event in the UK, the foreign secretary highlighted various structural reforms undertaken by India.

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Govt considering series of measures to boost economy

The government is considering a series of measures to boost the economy, including offering up to Rs 3 lakh crore in incentives spread over six years to create global supply chains in some sectors, tariff protection to key industries, further relaxation in foreign investment rules, and schemes aimed at the urban unemployed, four people familiar.

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Centre working on identifying key sectors for RoDTEP scheme

The Central government is looking to identify key sectors for priority implementation of the new Remission of Duties or Taxes on Export Product (RoDTEP) scheme. The scheme aims at refunding exporters indirect taxes paid on inputs, and will also replace the popular Merchandise Export from India Scheme (MEIS) that is incompatible with the World Trade.

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