Shipping sector gets $636 mn under Make in India
The Dollar Business Bureau Under the ‘Make in India’ scheme, the government has received $636.17 million (around Rs 4,272 crore) worth of investments in the shipping sector. “An amount of $636.17 million has been received up to May, 2016 in the Shipping Sector under Make in India initiative since its inception in September 2014,” Nitin Gadkari, Minister for Road Transport, Highways and Shipping, said in a written response to the Lok Sabha. Under the Ease of Doing Business (EoDB) and Trading Across Borders, the government has taken many initiatives in order to simplify the process of cargo clearance, to cut dwell time and congestion at key ports, the Minister added. These initiatives include extending facility for direct port delivery to all ACP (accredited client programme) clients, integrating ...
Indian government revives SagarMala Project to modernise ports
The Dollar Business Bureau | @TheDollarBiz Kandla port is Asia’s first SEZ. Developing SEZs to improve exports is targeted in the Union Budget 2014-15 Sagar mala project The Shipping Ministry is planning to implement the Sagar Mala Project with an aim to improve India’s ports to international standards and increase connectivity to hinterland business clusters. The Sagar Mala Project was first announced by former Prime Minister Atal Bihari Vajpayee on August 15, 2003. Among the aims were expansion and modernisation of the shipping sector, development of inland navigation, and improvement in draft. It was proposed that an investment of over Rs.1,00,000 crore was required over a period of 10 years to implement the project, with most of the funds coming from the ...
