Tuesday, July 22, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Banking & Finance

Master Plan done for 12 major ports, says Shipping Ministry

Fiinews by Fiinews
August 11, 2017
in Banking & Finance, Industry Sectors, Investment, Logistics, Manufacturing, Projects
Reading Time: 2 mins read
A A
0
0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

58 projects approved under Sagarmala Programme.

The India Register of Shipping – leading in classification of vessels.
A Master Plan has been formulated for 12 major ports which includes 142 port capacity expansions, costing Rs.91,434 crore, and 884  million ton per annum of capacity creation over the next 20 years.

Fifty-eight of these projects, costing approximately Rs.28,767 crore,  have been approved, under the country’s Sagarmala Programme, Minister of State for Shipping Pon. Radhakrishnan said in a written reply to a question in the Lok Sabha on 10 August 2017.

An international benchmarking study of 2015 recommended 116 initiatives to enhance efficiency and productivity at major ports. Eighty-five of these initiatives have already been implemented.

The government has taken various steps  to strengthen the shipping and ports sector. These include:

i) Exemption of Customs and Excise Duty leviable on bunker fuels used in Indian flag vessels for transportation of mix of EXIM, domestic and empty containers between two or more ports in India.

ii) Abatement of service tax of 70% for transportation of goods by Coastal shipping and Inland Waterways transportation.

iii) On April 13, 2016, the Ministry of Finance notified inclusion of stand-alone shipyards undertaking activities such as shipbuilding and ship-repair in the Harmonized List of Infrastructure sectors.

iv) To promote manufacture of sea-going vessels by Indian shipyards, Shipbuilding Financial Assistance Policy was approved for contracts signed during a 10 year period, viz. 2016-2026.

v) Customs and Central Excise duty exemption on inputs used in manufacture of ships to provide a level playing field between indigenously built ships vis-à-vis imported ships.

vi) Shipping enterprises based in India have been permitted to acquire ships abroad and also flag them in the country of their convenience.  This policy initiative of “Indian Controlled Tonnage (ICT)” has facilitated Indian ship-owners to gain access to cheaper funds abroad and also save on costs of setting up subsidiaries abroad to acquire and maintain such tonnage. fii-news.com

Tags: Shipping Ministry
ShareTweetShare

Related Posts

Nash Energy Logo
Manufacturing

Manufacturing: Nash Energy-Rincell to produce NMC cells

by Fiinews
July 22, 2025
0
15

Cutting-edge technology for NMC to be transferred to India Nash Energy, the country's only mass-scale LFP cell manufacturer, and California-based...

Hindustan Zinc
Projects

Project: Hindustan Zinc’s Phase I approved

by Fiinews
July 22, 2025
0
12

1Q zinc production cost at US$1,010/MT Hindustan Zinc’s Board has approved a first phase of US$1.4 billion investment plans to...

PIB

Project: SAIL supplied 31,000+t steel to Zojila

July 22, 2025
12
JGU

Project: MJIAS to work on India-US ties

July 22, 2025
13
Adia

Invest: ADIA takes stake in expansion-mode Meril

July 22, 2025
19
SRM University-AP, Amaravati.

Invest: CM highlights green hydrogen prospects

July 22, 2025
22
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Market: Empower acquires NIRA for serving India
  • Market: KredX leverages on Canara Bank network
  • Manufacturing: Nash Energy-Rincell to produce NMC cells
  • Project: Hindustan Zinc’s Phase I approved
  • Tender: Minister updated on Bihar Nuclear plants

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.