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Union Minister Shantanu Thakur announced on Monday that the Indian government aims to capture a 5% share of the global shipbuilding market by 2030, alongside the development of ten world-class shipyards through public-private partnerships and international collaborations. Speaking at the CII Conference in Goa, Thakur emphasized India's ambition to become a leader in sustainable shipbuilding, contributing to green growth and self-reliance. He highlighted significant advancements in the maritime sector, including a 320% increase in inland waterway cargo movement since 2014, which aligns with India's $2 trillion export target by 2030. The government is also working on establishing a national container shipping line and a comprehensive National Shipbuilding Policy, which will focus on skill development and R&D for green vessels. Thakur called for enhanced collaboration among government, industry, and academia to realize India's potential as a global shipbuilding powerhouse. 
Published: Sep 15 2025, 3 pmeznews.inTVS Motor Company has entered into a Memorandum of Understanding (MoU) with ALT Mobility to facilitate the leasing and deployment of up to 3,000 electric three-wheelers, including both passenger and cargo models, during the fiscal year 2025-26. Under this partnership, TVS will supply the vehicles, while ALT Mobility will handle procurement, leasing, and financing through its ecosystem. The collaboration aims to enhance last-mile logistics and shared passenger mobility, promoting clean mobility solutions across India. Vehicles will be distributed via TVS's extensive dealer network and ALT's sales points, utilizing ALT's Drive-to-own leasing model to support individual drivers and fleet operators. This initiative is expected to create socio-economic value by generating livelihoods for drivers and small fleet operators, while also contributing to India's electric mobility transition. Both companies emphasize the importance of making electric mobility accessible and environmentally sustainable.
Published: Sep 15 2025, 5 pmeznews.inShreeji Shipping Global, a logistics firm specializing in dry-bulk cargo, has reported a significant 52% increase in net profit for the June quarter, reaching ₹38 crore compared to ₹25 crore in the same period last year, driven by service diversification. Revenue rose by 24% to ₹161 crore, while EBITDA surged 58% to ₹60 crore. Chairman Ashokkumar Haridas Lal attributed this growth to the company's diverse service offerings, long-term contracts, and extensive geographic reach, which helped mitigate seasonal disruptions from monsoon-related port closures. The company recently received a Letter of Intent to establish Floating Crane Facilities at Diamond Harbour, enhancing its port services and expected to boost revenue this financial year. With over 80 vessels and 370 earthmoving equipment, Shreeji Shipping focuses on non-major ports along India's West Coast and aims to expand into sectors like Oil & Gas and Energy, supported by fresh capital from its IPO.
Published: Sep 15 2025, 5 pmeznews.inIndia's edible oil imports rose by 5.55% in August 2025, primarily due to a significant increase in crude palm oil (CPO) shipments, according to the Solvent Extractors’ Association of India (SEA). The country imported 16.21 lakh tonnes of edible oil in August 2025, up from 15.36 lakh tonnes the previous year, with CPO imports surging by 39.79% to 9.79 lakh tonnes. However, total edible oil imports for the first ten months of the 2024-25 oil year fell by 8.11% to 123.78 lakh tonnes. A notable decline in refined palmolein imports was attributed to a rise in import duties, which made refined oils less economical. This shift has revitalized the domestic refining sector, aligning with the government's 'Make in India' initiative. Major exporters included Indonesia and Malaysia for CPO, while soybean and sunflower oil imports varied from countries like Argentina and Russia.
Published: Sep 15 2025, 4 pmeznews.inUS Assistant Trade Representative Brendan Lynch is set to arrive in India to continue negotiations for a Bilateral Trade Agreement (BTA) amid ongoing discussions that began in March 2025. The talks, scheduled for Tuesday, involve India's chief negotiator, Rajesh Agrawal, and focus on an interim trade deal, although India has expressed concerns over US demands to open its agricultural and dairy sectors, which are vital for many livelihoods. This comes as President Donald Trump has implemented a series of tariffs on Indian goods, raising them to 50% due to India's imports of Russian oil. Trump has reiterated his commitment to tariff reciprocity, aiming to ensure fair trade. In response, Prime Minister Narendra Modi has praised the strong ties between the two nations, emphasizing a "Comprehensive and Global Strategic Partnership" and expressing mutual appreciation for the relationship.
Published: Sep 15 2025, 4 pmeznews.inA parliamentary committee in India has urged the government to consider the United States' unilateral withdrawal from World Trade Organization (WTO) obligations as a potential opportunity to renegotiate terms under the Information Technology Agreement (ITA) or even explore an exit. The Standing Committee on Communications and Information Technology criticized the 1997 ITA for contributing to a significant trade deficit and hindering the competitiveness of Indian manufacturers. While acknowledging the benefits of reduced costs for consumers, the committee noted that the ITA has nearly decimated India's IT and electronics sector. It recommended forming a high-level inter-ministerial committee to assess the ITA's impact and future implications, emphasizing the need for a proactive approach in light of changing global trade dynamics. The report highlighted India's ongoing struggles with high import dependence and inadequate infrastructure, calling for enhanced policy support and investment in research and development to bolster the electronics manufacturing ecosystem.
Published: Sep 15 2025, 4 pmeznews.inSarveshwar Foods, a rising name in the FMCG sector and a premium basmati rice brand from the Himalayan foothills, has secured four significant export contracts with Singapore's Swan International Pte, amounting to ₹63 crore for the supply of premium Indian parboiled rice. Swan International, a technology-driven agriculture supply chain company, specializes in warehousing, processing, and transportation of agricultural products globally. Seema Rani, Director of International Business at Sarveshwar Foods, highlighted that these substantial export orders validate the company's global competitiveness and commitment to quality. The deal is expected to enhance Sarveshwar's growth in lucrative export markets. The company, which operates from Jammu and Gandhidham in Gujarat, already holds global food safety certifications for exports to China and the US, and prides itself on using mineral-rich soil and organic practices without artificial fertilizers.
Published: Sep 15 2025, 4 pmeznews.inIndia's exports experienced a notable increase of 6.7% in August, reaching $35.1 billion, while imports saw a significant decline of 10.12% to $61.59 billion, according to official figures released on Monday. In August 2024, exports were recorded at $32.89 billion, with imports at $68.53 billion. This shift resulted in a trade deficit of $26.49 billion for August 2025, a marked improvement from the $35.64 billion deficit reported in the same month last year. For the period from April to August 2025-26, total exports amounted to $184.13 billion, against imports of $306.52 billion. Commerce Secretary Sunil Barthwal highlighted the resilience of Indian exporters amid global and trade policy uncertainties, emphasizing their strong performance in challenging conditions. The data reflects a positive trend in India's trade landscape as it navigates external economic challenges.
Published: Sep 15 2025, 3 pmeznews.inA significant agreement aimed at reducing billions in subsidies that contribute to overfishing officially took effect on Monday, according to the World Trade Organization (WTO). This marks the first major agreement since 2017, following years of stalled negotiations and recent tensions over U.S. tariffs. The deal, initially reached in 2022, received formal ratification from Brazil, Kenya, Tonga, and Vietnam, achieving the necessary two-thirds support from WTO members. Under the agreement, governments are barred from subsidizing overfished stocks and fishing in international waters beyond their jurisdictions, while poorer nations will have access to a fund to facilitate compliance. Activists welcomed the move as a vital step towards restoring global fish stocks, which are currently supported by approximately $35.4 billion in annual subsidies. However, further negotiations on additional fishing regulations remain contentious, particularly as developing countries seek exemptions that others deem impractical. The agreement is set to expire in four years unless more comprehensive rules are established.
Published: Sep 15 2025, 3 pmeznews.inAllcargo Supply Chain, a subsidiary of Allcargo Logistics, has inaugurated a new Logistics Park in Panapakkam, near Chennai, covering 275,000 square feet of Grade A warehousing space. This facility enhances the company's southern network and aligns with its infrastructure-driven growth strategy. Strategically located at the junction of NH 76 and SH 50, the park provides efficient access to key areas such as Red Hills, Chennai Port, and Sriperumbudur, establishing it as a crucial multi-modal hub for nationwide distribution. The facility is expected to diversify Allcargo's operations in the region, with a focus on the automobile sector, which constitutes about 50% of its business, alongside e-commerce and consumer durables. Ketan Kulkarni, Managing Director of Allcargo Supply Chain, emphasized the park's capacity to manage large cargo volumes and its role in enhancing India's supply chain ecosystem. This launch complements existing facilities in Bengaluru and the upcoming site in Hyderabad, expanding Allcargo's national logistics footprint.
Published: Sep 15 2025, 4 pm
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