Concerned over the fallout of the Red Sea crisis and severe shortage of containers against the backdrop of a steep decline in merchandise exports in August, the Union government is pulling out all the stops to find a solution. To begin with, the government has devised a strategy aimed at boosting container supply and supporting exporters.
'I enjoyed my fiery exchanges with Akshay Kumar, who was extremely gracious and generous when the camera was not rolling. I enjoyed locking horns with him in court.'
The Indian Coast Guard (ICG) Ship 'Sajag' was commissioned by National Security Advisor Ajit Doval.
Exporters on Thursday sought a fund of Rs 750 crore for three years to tap USD 25 billion export potential in the US, aiming to seize potential opportunities that may arise as the US President-elect, Donald Trump, has threatened to impose high tariffs on Chinese goods. In its pre-Budget meeting with the finance ministry, Federation of Indian Export Organisations (FIEO) President Ashwani Kumar has also demanded extension of the five per cent Interest Equalisation Scheme (IES).
'If attacks escalate, there is a risk the Suez Canal may be closed.'
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.
'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.
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 overnight operation in the Arabian Sea was carried out in coordination with the Gujarat Anti-terrorism Squad and the Narcotics Control Bureau, it said.
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.
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 year was rich in content as far as Web series were concerned.
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.
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.
The magistrate court has remanded the accused Pakistani national Subair, who was arrested by the Narcotics Control Bureau to 14 days of judicial custody.
Pant, a 1991-batch Indian Administrative Service officer of Rajasthan cadre, is currently secretary in the ministry of ports, shipping and waterways.
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.
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.
'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.'
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.
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.
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 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.
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.
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.
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.
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.
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.
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.
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.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances