Union Minister Sarbananda Sonowal gathered shipping and trade leaders in Mumbai on March 19 to discuss the impact of disruptions in the Strait of Hormuz on Indian maritime operations. The meeting revealed a significant reduction in export backlog at Jawaharlal Nehru Port, though full normalization remains a challenge amid ongoing tensions.
Mundra Port, India’s largest commercial port, has exported advanced locomotives to Morebaya, Guinea, marking a milestone for Indian manufacturing in line with the Atmanirbhar Bharat initiative. The inaugural shipment of four locomotives, produced by Wabtec in Bihar, reflects India’s growing prowess in the global rail equipment market.
India is rapidly transforming its electric vehicle (EV) landscape, marked by Prime Minister Modi inaugurating Maruti Suzuki’s new facility in Gujarat. This week, the first domestically produced electric cars were unveiled, set to reach over 100 international markets, with APM Terminals Pipavav Port exporting 1,534 eVITARA units to the UK and Germany.
According to Deputy Prime Minister Alexander Novak, Russian gas exports to European countries have increased by 18-20% this year compared to 2023. Over 50 billion cubic meters of pipeline gas and LNG have been supplied from January to November. Despite sanctions and political tensions, Russian gas demand remains high for its cost-efficiency and ecological benefits.
Commerce and Industry Minister Piyush Goyal highlighted the negative impact of longer ship routes on global trade, especially Indian exports. Despite efforts to address container shortages and production constraints, challenges persist in the industry. Goyal’s statements underscore the need for interventions to improve India’s container manufacturing capabilities and address delays in reaching foreign markets.
