PM Modi Inaugurates Vizhinjam Port to Boost India’s Economic Growth

Prime Minister Narendra Modi inaugurated the Vizhinjam port, a ₹8,900 crore project, emphasizing its role in enhancing India’s maritime security. He highlighted the port as a catalyst for regional development, boosting trade and economic growth, while creating employment opportunities and improving logistics efficiency for larger cargo ships in global trade.

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Permit-Free Entry To EU For Ukrainian Cargo Extended

Ukrainian Freight Liberalization Agreement Extended to Boost Trade with EU

Ukrainian officials have extended a freight liberalisation agreement allowing Ukrainian cargo to enter the EU without permits. This agreement, signed in 2022, streamlines trade operations by eliminating the need for transport permits. The extension is crucial due to the impact of the Russian invasion on Black Sea ports, making trade flow maintenance essential.

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Maritime investments worth ₹8,347 crore in Mangalore

India Launches Maritime Infrastructure Initiatives to Boost Trade and Sustainability

The Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal, launched initiatives to modernize India’s maritime infrastructure and enhance global trade. The Operational Norms Overhaul Process (ONOP) aims to streamline operations, while Sagar Ankalan LPPI and Bharat Global Ports Consortium will boost efficiency and enhance India’s global competitiveness in the maritime sector.

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Iraq and IMO Strengthen Maritime Cooperation for Economic Development

Iraq Prime Minister Mohammed S. Al-Sudani met with IMO Secretary-General Arsenio Dominguez in Baghdad to discuss cooperation in training, regulation, and depositing agreements. They emphasized Iraq’s commitment to strengthening relations with IMO, developing port infrastructure, and completing projects like the Al-Faw Grand Port. The meeting highlighted mutual interest in enhancing Iraq’s maritime sector.

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Coastal routes carry 95% of India’s total commerce volume: Dy DG, Shipping

India’s Coastal Channels are Key to Boosting Trade and the Blue Economy

Dr. Pandurang Raut, Deputy Director General of Shipping, highlighted India’s coastal channels’ importance for trade, with up to 95% of volume and 68% by value passing through them. The Maritime Amritkal Vision 2046 aims at modernizing ports and leveraging the blue economy, reflecting the government’s commitment to enhancing India’s maritime position on a global scale.

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India and Iran will sign a Chabahar Treaty after the 2024 elections

India to Sign Long-Term Agreement with Iran for Chabahar Port Development in 2024

A high-level Indian delegation, led by the Shipping Minister, is set to visit Iran after India’s general elections in the latter half of 2024. This visit will facilitate the signing of a contract to fully utilize the strategically vital Chabahar Port, developed with Indian aid, confirming a positive and lucrative agreement between both countries.

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