India, Korea to sign pact for seafarers to work on Korean ships: Gadkari
The Dollar Business Bureau Union Minister of Shipping, Road Transport & Highways and Water Resources, River Development & Ganga Rejuvenation Nitin Gadkari said on Sunday that India and South Korea are set to strengthen their relations in the field of shipping and ports and will sign an agreement that will facilitate Indian seafarers to work on Korean ships. “The undertaking with the Republic of Korea for mutual recognition of Certificate of Competency (CoC) will be beneficial to both the countries as Korea is a large ship owning nation while India is a large seafaring nation with around 1,54,349 Indian seafarers,” the Minister said before leaving for Seoul. Gadkari will be on a four-day official visit to South Korea from April 9, 2018. “This agreement ...
Govt expects Rs.15 lakh crore investments under Sagarmala
The Dollar Business Bureau The Government is expecting investments worth Rs. 15 lakh crore under its ambitious 'Sagarmala' programme - for modernisation and developments of ports. “The Ministry expects Rs.15 lakh crore investments under the ambitious 'Sagarmala' infrastructure development programme,” said Minister of Road Transport and Highways and Shipping Nitin Gadkari after laying the foundation stone for setting up of a National Technology Centre for Ports, Waterways and Coasts (NTCPWC), at IIT Chennai. “We are expecting around Rs.4 lakh crore investment to be made in road connectivity, modernisation and mechanisation of ports and port-rail connectivity. Work worth Rs.2.80 lakh crore has already been started,” he added. Under the Sagarmala programme, the Shipping Ministry has planned to develop Special Economic Zones (SEZs), coastal ...
Chahbahar Port is a gateway to golden opportunities: Gadkari
The Dollar Business Bureau The Minister for Shipping and Road Transport & Highways Nitin Gadkari, was on a two day visit to Tehran, representing the Indian Government at the inauguration and oath taking ceremony of Hassan Rouhani as the President of Iran for a second term, on 5th August, 2017. In an interaction with Rouhani, Gadkari held wide ranging discussions on many issues including India’s cooperation in the development of Chabahar Port and proposed rail link between Chabahar & Zahedan. In the meetings, both sides positively assessed the progress in implementation of the decisions taken during the Indian Prime Minister’s visit to Iran last year, including the progress of Chabahar Port. Both sides reiterated their commitment to complete and operationalize the ...
GST benefits for the transport sector
The Dollar Business Bureau The Ministry of Road Transport & Highways has issued a booklet outlining the benefits of GST for the transport sector. Pre- GST, the complex tax structure and paper work forced the transport industry to spend a lot of resources on tax compliance and deposit of interstate sales tax. Monitoring and collection of sales tax at interstate check posts led to major traffic congestion at these points, resulting in slower movement of freight and passenger, and consequently higher costs and pollution. An average Indian truck covers only about 50,000-60,000 km a year as against 3 lakh km done by a truck in US. The unified tax regime has obviated the need for interstate check posts. This will result in reducing ...
We are going to bring in a policy to promote use of alternative fuel: Gadkari
The Dollar Business Bureau With a view to bringing down logistics cost and pollution levels, the Government has decided to bring a policy for promoting the use of alternative fuel, Road Transport and Highways Minister Nitin Gadkari said on Thursday, while adding that the logistics cost is quite high in India when compared to China and European countries. “We are going to bring in a policy to promote use of alternative fuel which is indigenous and pollution free as it will help in saving lot of time, bring down logistics cost by 4-6% which is currently about 14-18% unlike in China where it is 10-12% and in European countries where it is 12-14%,” Gadkari said, while inaugurating an event organized by ASSOCHAM in New Delhi. The minister ...
Cruise tourism can be a major growth driver for Indian economy, Gadkari
The Dollar Business Bureau The Minister of Shipping and Road Transport and Highways Nitin Gadkari has said that Cruise Tourism is one of the fastest growing components of the leisure industry worldwide, and can be a major growth driver for the Indian economy by generating huge employment opportunities. Gadkari was speaking at the National Workshop on “Action Plan for Development of Cruise Tourism in India”, in New Delhi on Tuesday. The workshop was also attended by Minister of State for Culture and Tourism Dr Mahesh Sharma, and representatives of all stakeholder organisations – both from the government and the private sector – including regulatory agencies which deal with issues impacting cruise tourism. Pointing out that tourism has the highest investment to employment multiplier Gadkari said that on an average, ...
Taiwanese major Foxconn seeks 13-acre land at JNPT SEZ
The Dollar Business Bureau Taiwanese electronics major Foxconn Technology Group has sought 13-acre land in the special economic zone (SEZ) at Jawaharlal Nehru Port Trust (JNPT), Road Transport and Highways and Shipping Minister Nitin Gadkari said on Tuesday. Foxconn - a contract manufacturer – makes electronic devices for some popular global brands such as Apple, Amazon, BlackBerry, Motorola, Sony, and Xiaomi and has majority of its factories based in China. “Foxconn has sought a land parcel of 13 acres in special economic zone in JNPT and I have spoken to Maharashtra Chief Minister about the project,” Gadkari told journalists in New Delhi. However, the Minister added that the project details are not available immediately. Headquartered in New Taipei City of Taiwan, Foxconn Technology Group is one ...
Chidambaranar Port, TANGEDCO ink pact to upgrade coal jetties to handle 24 mn tonnes
The Dollar Business Bureau One of the top major ports in the country, the VO Chidambaranar (VOC) Port and Tamil Nadu’s Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) inked an agreement today to increase the capacities of two coal jetties at the port four-fold to 24 million tonnes for Rs 800 crore. The pact will upgrade two coal jetties at VOC Port - Jetty I and II -- from 6.25 MTPA (million tonne per annum) to 24 MTPA. The Ministry of Shipping in a press a statement said: "The VOCP Trust signed a Memorandum of Understanding with Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) for the upgradation of Coal Jetty I and II.” The Minister for Shipping Nitin Gadkari said that coal ...
