Govt. has cleared over 2 lakh cr worth defence acquisition since 2014
The Dollar Business Bureau India is committed towards modernisation of armed forces with the current government having cleared more than 2 lakh crore worth defence acquisition since it came to power and is resolved to order 3 lakh crore by the end of this financial year, informed Defence Minister Manohar Parrikar while speaking at a seminar organised by FICCI with active participation of the Indian Navy in New Delhi. The International Seminar on Current and Future Challenges in Design and Construction of Underwater Vehicles had Parrikar commend the Indian Navy for indigenously designing and constructing the advanced front line warships such as destroyers, frigates, anti-submarine warfare corvettes, landing crafts. The armed forces is also constructing an aircraft carrier he said. The minister shed light ...
Krishnapatnam Port plans to become Indias largest container terminal by 2020
Sisir Pradhan | @TheDollarBiz Krishnapatnam Port, on the eastern coast of India, plans to become the single largest container terminal in India by FY2020 with a total annual capacity of 6.0 million TEUs, up five-times from the current capacity of around 1.2 million TEUs per annum, Krishnapatnam Port Company Limited CEO Anil Yendluri told The Dollar Business. According to the Ministry of Shipping, global container throughput will reach 1 billion TEUs by 2020 and India’s container traffic (excluding transshipment) is likely to grow between 18% and 23% in the next 4-5 years. The growth in container traffic exhibits a strong linkage to GDP growth and most developing container traffic at Indian ports has registered growth at a CAGR of ...
Government to issue life-time licenses to Indian ships
The Dollar Business Bureau |@TheDollarBiz The government will issue life-time licenses to Indian Ships and any other ship charted by an Indian citizen or an Indian company. Previously, the licenses for ships had to be renewed every year. The government has also allowed all the five Registrars of Ships at Mumbai, Chennai, Kolkata, Goa and Cochin to issue life-time licenses for Indian ships under the provisions of the Merchant Shipping Act, 1958. The government says that the move is an effort to decentralise and liberalise the licensing process for Indian ships and is likely to help to the Indian and other vessels engaged in coastal trading as it will save time and effort. Registration allows ships to fly the Indian flag, ...
