General

New Delhi: Port Wings News Network: The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi has approved the capital infusion of Rs.2000 crore for strengthening of  Export Credit Guarantee Corporation (ECGC).  The amount would be infused in the three financial years i.e. Rs.50 crore in 2017-18, …

New Delhi: Port Wings News Network: The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved establishment of additional 6.5 Million Metric Tonne (MMT) Strategic Petroleum Reserve (SPR) facilities at two locations, i.e. Chandikhol in Odisha and Padur in Karnataka, including construction of dedicated SPMs (Single Point Mooring) …

Chennai: Port Wings News Network: Additional Director General KR Nautiyal who assumed the command of Coast Guard (Eastern Seaboard) on 12 Apr 18 having jurisdiction over Coast Guard Regional Headquarters (East) and Coast Guard Regional Headquarters (North East)is on his maiden visit to Coast Guard Regional Headquarters (East) at Chennai …

Chennai: Port Wings News Network: Union Minister of Commerce & Industry and Civil Aviation, Shri Suresh Prabhu said that the Government of India has taken several steps to promote Indian Exports which will enable India to become 5 trillion Dollar economy in the next seven years. He was addressing the …

New Delhi: Port Wings News Network: Prime Minister Narendra Modi laid the foundation stone for Vanijya Bhawan (Commerce Ministry’s Building), a new office complex of the Department of Commerce in New Delhi on 22 June. Speaking on this occasion, the Prime Minister emphasized the need for an increase in exports …

Chennai: Port Wings News Network: In a press release issued on 18 June 2018 Shri. Raja M Shanmugham, President, Tirupur Exporters Association (TEA), said he welcomed the Chief Minister’s announcement in legislative assembly  on organizing the International Textile Fair at Codissia Trade Fair Complex, Coimbatore this year mainly to encourage …

New Delhi: Port Wings News Network: Services trade is growing faster than merchandise and such dynamic changes need to be captured in the global trading system, stated Suresh Prabhu, Minister of Commerce and Industry and Civil Aviation. He was speaking at the 6th Growth Net Summit, being held in New …

New Delhi: Port Wings News Network: The Department of Commerce will soon open 10 offices in Indian missions abroad for accelerating export promotion activities. This was informed by Commerce & Industry Minister, Suresh Prabhu, during review of the sectoral export promotion plans prepared by Ministries and Departments in New Delhi …

New Delhi: Port Wings News Network: To take forward the robust commercial ties with the United States and to resolve outstanding bilateral trade issues, a delegation led by Union Minister of Commerce & Industry and Civil Aviation Suresh Prabhu visited USA on 10-12 June 2018 for meetings with his US …

New Delhi: Port Wings News Network: Responding to May 2018 trade data, Mr Ganesh Kumar Gupta, FIEO President, said that the exports data for the second month of the fiscal though have shown a robust growth but MSME units particularly in labour-intensive sectors such as gems & jewellery, leather & …

Chennai: Port Wings News Network: Senior business representatives meeting on 7 June 2018 at the WTO headquarters discussed how the WTO could help them address the challenges they face in conducting global trade. They sent a strong message of support for the WTO and the rules-based multilateral trading system, stressing …

Chennai: Port Wings News Network: India does not view its relations with China through the prism of China-Pakistan ties, Defence Minister Nirmala Sitharaman has said. However, she ruled out the possibility of New Delhi reviewing its stand on CPEC project, a major irritant in Sino-Indian relationship. The Minister also said …

Chennai: Port Wings News Network: Gangavaram Port Limited, India’s deepest and multi-purpose port celebrated the World Environment Day by initiating a week long Green belt development and awareness program at the port premises to express their commitment towards environmental protection and sustainability. This year’s theme for the World Environment day …

Chennai: Port Wings News Network: Tirupur Exporters Association (TEA) has said the increase in Repo Rate at this juncture will increase the cost of credit to exporting units and will have a detrimental effect on exports since Tirupur knitwear units have been already reeling under pressure due to various factors …

New Delhi: Port Wings News Network: The India-China bilateral trade rose by 18.63% to $84.44 billion last year. A rare novelty of the bilateral trade otherwise dominated by Chinese exports was about 40 percent increase of Indian exports to China in 2017 totalling to $16.34 billion. India has thus seen …