The Indian Coast Guard (ICG) Ship 'Sajag' was commissioned by National Security Advisor Ajit Doval.
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
'If attacks escalate, there is a risk the Suez Canal may be closed.'
'This is the first case in which we saw use of Starlink by smugglers.'
Snapping the two months slide, the country's merchandise exports rose marginally by 0.5 per cent to $34.58 billion in September while trade deficit narrowed to $20.78 billion. According to official data released on Wednesday, imports increased by 1.6 per cent to $55.36 billion in September compared to $54.49 billion in the year-ago period. The trade deficit, or the gap between imports and exports, was $20.8 billion during the same month last year.
The government has revised gold import data, bringing down numbers for November by $5 billion to $9.84 billion, possibly to rectify double accounting of inbound shipments. According to revised data of the commerce ministry arm Directorate General of Commercial Intelligence and Statistics (DGCIS), gold import numbers have been slashed since April 2024, revealing excess imports of about $11.7 billion during the first eight months of 2024-25.
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
Once Sagarmala and golden quadrilateral reach the take-off stage, India could be a big force. I feel that the buoyancy is here to stay, says G S Sahni, director general of shipping.
The overnight operation in the Arabian Sea was carried out in coordination with the Gujarat Anti-terrorism Squad and the Narcotics Control Bureau, it said.
India has asked Jordan to provide it with details of the Indian crew members who are on board the hijacked ship MV Victoria because the ship's operators are not cooperating. "The ship managers in Sharjah have been repeatedly requested to provide the contact details of the 10 Indian seafarers on board the MV Victoria, but no response has been received so far," the Directorate General of Shipping said in a statement on Friday.
The year was rich in content as far as Web series were concerned.
About 1.2 trillion tax evasion cases have been detected and as many as 59,000 entities identified for verification in order to ascertain whether they are fake.
The commerce department has reaffirmed its plans to launch the 'Trade Connect' e-platform to help exporters connect with stakeholders of international trade, as a part of the new government's 100-day action plan, a senior government official said.
The major advantages of such plants are no need of land to build the reactors, earthquake resistant, abundance of water for active or passive cooling.
The Indian crew members, who were onboard the Ship M V Victoria, which was hijacked on May 17 near the Somalia coast by heavily armed pirates, have been released, the Directorate General of Shipping on Friday said.
Armed Somalian pirates on Friday released three Indians and 26 other members of the crew on board a hijacked cargo ship after keeping them in captivity for more than one and half months.
A year after their abduction by Somalian pirates, 28 Indian sailors on board two ships have been released and will sail for home, bringing huge relief to their families.
Pant, a 1991-batch Indian Administrative Service officer of Rajasthan cadre, is currently secretary in the ministry of ports, shipping and waterways.
The magistrate court has remanded the accused Pakistani national Subair, who was arrested by the Narcotics Control Bureau to 14 days of judicial custody.
The Directorate General of Shipping on Saturday said that contact with the hijacked vessel, MV Delight, had been established and the Indian crew on board was 'safe and in good health'.Iranian ship MV Delight with seven Indian sailors on board was hijacked by Somali pirates on November 18. Delight, which bears a Hong Kong flag, was carrying 38,000 tonnes of wheat and had 18 crew members, apart from the Indian crew, on board when it was hijacked near the Gulf of Eden.
'Due to the Israel-Hamas conflict, a faction operating in the Red Sea -- which is a typically safe area - has been firing projectiles arbitrarily.' 'Additionally, there have been two incidents involving Somali pirates, and one vessel has been hijacked.'
India has flown in an officer to observe the investigations. The ship is owned by a Turkish company and registered in Panama. So, India cannot conduct the investigation officially because neither the ship is owned by an Indian nor is it registered in India.
The accused have been identified as Abhishek Kumar, a resident of Deoria district in Uttar Pradesh, and his friend Santu Biswas of West Bengal's Nadia district.
On Thursday, the bench, after perusing the plea copy, noted that Wankhede had approached the Central Administrative Tribunal, too, against the notices issued to him by the NCB.
India's trade deficit with Russia continued to widen for the second consecutive year to $57 billion in the financial year 2023-24 (FY24), with Moscow becoming New Delhi's largest source of crude oil imports. All eyes will now be on Prime Minister Narendra Modi's visit to Russia during July 8-9, where he is set to meet President Vladimir Putin. This will be Modi's first visit to the Kremlin since the Russia-Ukraine conflict began over two years ago.
The Directorate General of Shipping on Monday said that a vessel, with at least 10 Indians onboard, was hijacked off the Somalian coast on Saturday. According to reports, the ship, MV Victoria, sailed from Mumbai earlier this month with cargo and went missing approximately 55 nautical miles off the Somalian coast. "We are working for more details. Ship owners are supposed to inform, but they have not. We are trying to get more information," a top official told PTI.
The central government's Great Nicobar development project, proposed around an unprecedented transhipment port, will be executed to keep environmental impact minimal, and is essential as it is of national importance, the government has said amid calls to abort the controversial project due to ecological concerns, the Centre said in an official statement.
The Bombay high court on Monday said no coercive steps shall be taken against IRS officer Sameer Wankhede till April 10 on notices issued to him on the NCB's preliminary inquiry over irregularities in a drugs case related to actor Sushant Singh Rajput's death.
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
A Hong Kong ship bound for Mumbai with 18 Indian crew members on board has been hijacked and taken to Somalia, officials in the Directorate General of Shipping said in Mumbai on Tuesday night.'Stolt Valor', which bears a Hong Kong flag and carries over 23,000 tonnes of oil products, is reported to have been hijacked in the Gulf of Aden on Monday at around 1.15 pm, they said.
An Indian Coast Guard Ship, designed and built by Cochin Shipyard Limited, was commissioned here on Monday by Flag Officer, Commanding-in-Chief, Southern Naval Command, Vice Admiral Sunil Lanba.
Union Defence Minister Manohar Parrikar on Monday commissioned four Indian Coast Guard vessels at port town of Vasco in Goa, which will be mainly used for patrolling and interception.
Wankhede, a 2008-batch Indian Revenue Service (IRS) officer of the Customs and Indirect Taxes cadre, has moved the Bombay High Court seeking protection from any coercive action by the anti-money laundering agency.
The navy received information about the vessel, responded to the distress call and the Pakistan Maritime Information Centre requested a nearby merchant ship "MT KRUIBEKE" to provide necessary assistance to the stranded crew of the Indian vessel.
India's internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India's e-commerce sector, with notable changes in consumer trends, technology, and regulations. InGovern Research Services, a leading corporate governance advisory firm, hosted a virtual roundtable to deliberate on the notable developments in India's e-commerce sector in 2023, with a particular focus on the essential role of customer trust in fueling its ongoing expansion.
India's exports to Iran have been falling over the last one year, amid decline in rupee reserves of the West Asian economy. Going ahead, the possibility of augmenting exports to Iran may not be easy for India, considering the geopolitical tensions - Russia-Ukraine and Israel-Hamas conflicts - and the West Asian country's support for Russia and Hamas, people aware of the matter said. Exports to Iran saw a downward spiral since November last year.
China on Monday signed a defence cooperation agreement with the Maldives to provide free military assistance to foster "stronger" bilateral ties with Male, weeks after President Mohamed Muizzu set a deadline for the withdrawal of the first group of Indian military personnel from his island nation.
The ICG and Gujarat Anti-Terrorist Squad apprehended the fishing boat in a joint operation in the high seas on Sunday afternoon, the coast guard said in a release in Ahmedabad.
The government has banned exports of onion till March next year with a view to increase domestic availability and to keep prices in check. "Export policy of onions... is amended from free to prohibited till March 31, 2024," the Directorate General of Foreign Trade (DGFT) said in a notification. Local vendors in the national capital are selling onions at Rs 70-Rs 80 per kg.
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