Search Result for : Maldives

The Dollar Business Bureau The government has allowed the supply of over 23 crores of eggs and 122.23 MT of pulses to Maldives for 2017-18 without any restrictions or prohibition for export, under bilateral trade agreement between Government of India and Government of Maldives during the period 2017-18 w.e.f. April, 2017. A notification No.20/2015-2020 to the effect has been issued by the DGFT on August 14, 2017, mentioning that this decision is effective from April, 2017. It should be recollected that earlier in June the Indian government had agreed to allow the export of 11714.45 MT of potato, 19466.36 MT of onion, 67640.24 MT of rice, 59442.17 MT of wheat flour and 11706.30 MT of sugar for FY of 2017-18 to Maldives. These ...

The Dollar Business Bureau The Central Government of India has agreed to allow the export of 11714.45 MT of potato, 19466.36 MT of onion, 67640.24 MT of rice, 59442.17 MT of wheat flour and 11706.30 MT of sugar for the FY of 2017-18 to the Republic of Maldives as per the bilateral trade agreement signed between the Government of India and the Government of Maldives.  A directive by the DGFT via notification no., 12/2015-2020 dated June 27, 2017 was issued saying this is effective from April. The notification also clearly states that the exports of these essential commodities to Maldives are exempted from any existing or future restriction/prohibition on export. The government periodically imposes minimum export price on essential agri commodities in order ...

PTI A Singaporean arbitration tribunal has ordered the Maldivian government to pay approximately $250 mn in compensation to Indian company GMR over termination of contract to run Ibrahim Nasir International Airport (INIA). Singapore International Arbitration Centre has ruled that the Maldivian government should pay $208mn in damages to GMR Group and after adding the interest it should pay a total of approximately $250mn, Maldives Attorney General Mohamed Anil was quoted as saying by the Sun Online. In a press conference held at President's Office today, Anil said that the tribunal had made its decision and released its report on October 25. The report was shared with Maldivian government last night, he said. GMR had asked for $1.4 bn in compensation. The ...

Source: PTI India need not worry about China's military expansion in the Maldives under its new law allowing foreigners to own land as the communist nation has no policy to build overseas naval bases but its firms may take up land for commercial use, state-run media reported today. The Maldives ratified legislation to allow foreigners with investment of more than a billion to own land within a specified site, on condition that at least 70% of the area they develop is reclaimed from the sea. In view of the Maldives government assurance to keep the Indian Ocean a demilitarised zone, India need not worry about Chinese military expansion, state-run China Daily reported today, quoting officials. Maldives President Abdulla Yameen has dismissed ...

 The Dollar Business Bureau The Government of India (GoI), on Thursday, entered into a loan agreement with the Asia Development Bank (ADB) for improving domestic and regional trade along the North Bengal (NB)-North Eastern (NE) Region. The loan, being the first move under a $500 million multi-tranche South Asian Sub-regional Economic Cooperation (SASEC) Road Connectivity Investment Program, aims at constructing roads covering 500 kms along the NB-NE region. Speaking on the occasion, Tarun Bajaj, Joint Secretary, Department of Economic Affairs, Ministry of Finance, GoI, said, that ‘besides the road connectivity, the project will also improve  the efficiency of international trade corridors by expanding roads in the region.’ The investment on the ‘last mile’ connectivity will also help in achieving the ...