The tension between Iran and Israel has reached new heights, sending ripples through the global supply chain and causing concerns for Indian exporters. The recent capture of the MSC Aries by Iranian forces has exacerbated an already precarious situation, raising fears of further disruptions and soaring freight costs. The incident unfolded against a backdrop of […]
India, the world’s largest consumer and producer of pulses, is diversifying its import sources to keep domestic prices stable by entering into long-term deals with Brazil and Argentina after several rounds of negotiations, according to government officials. For the first time, India is expected to import over 20,000 tonnes of black gram (urad) from Brazil. […]
In yet another major milestone for Apple in India, the tech giant’s Indian arm exported iPhones worth $10 billion from India in the fiscal year 2024, doubling its export value compared to the previous year. Under the Production-Linked Incentive PLI scheme, Apple exported about 70 per cent of all iPhones made in India, making Apple […]
The government on Monday ruled out possibility of allowing sugar exports in the current 2023-24 season ending October, the industry’s persistent demand notwithstanding. Currently, there are curbs on export of sugar for an indefinite period. However, Indian Sugar Mills Association (ISMA) has requested the government to allow export of 10 lakh tonne of sugar in […]
India is considering allowing duty-free imports of yellow peas for another month, until May, to drive down prices while bridging the demand-supply gap tur (pigeon pea) and chana (gram), two officials said. The move likely is due to a drop in tur crop production and expectations of low yields for chana because of a decline […]
Motorola, owned by Lenovo, is increasing its manufacturing-related investments in India to help achieve its goal of doubling smartphone exports as well as the handset business in the country. The investments will be made to expand production capacity with its domestic contract manufacturing partner, Dixon Technologies. “We are exporting predominantly to the US. Manufacturing is […]
Japanese carrier ONE and Taiwan’s Yang Ming today issued a transpacific network update to apply following the departure of Hapag-Lloyd from THE Alliance (THEA) next February. The separate announcements from the carriers follows pressure from customers for clarification during negotiations for new annual transpacific contracts where their duration could extend beyond the date of the […]
India’s export earnings from petroleum shipments fell steeply during the first 11 months of fiscal year 2024 due to the global economic slowdown, a rise in domestic consumption, and shrinking discounts on Russian oil. During FY2023, India, despite not being a major petroleum producer, expanded its export markets for refined petroleum products helped by the […]
The VOC Port Authority in Tuticorinis inviting global bids totalling USD 942 Million (Rs. 7,056 crore) for an outer harbour project that includes construction of two container terminals. This involves preparatory work such as dredging and building a breakwater at the port, with a capacity to handle 4 million TEUs. This is line with the […]
The Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal announced a major investment of more than Rs 645 crores to develop 10 waterways projects under the flagship Sagarmala programme of the Ministry of Ports, Shipping & Waterways. The projects will be implemented with 100% financial assistance from the central government to enhance terminals and […]