Manoj Kumar News

India expects to start full-scale operations at Iran’s Chabahar general cargo port it has built by the end of May, the country’s shipping minister said in a boost for regional trade.India has been developing a part of the port on Iran’s south-eastern coast along the Gulf of Oman as a way to transport goods to Iran, but also Afghanistan and central Asian countries, and avoiding rival Pakistan.But U.S. sanctions on Iran slowed down the port’s development and Indian officials are…

India has sent technical equipment and a team of specialists to Mauritius to help local authorities deal with an environmental crisis after an oil spill from a Japanese ship, a government official said on Sunday.The Japanese bulk carrier Wakashio struck a coral reef off the Indian Ocean island nation on July 25, spilling about 1,000 tonnes of fuel oil and triggering a state of “environmental emergency”.The carrier split on Saturday, and the oil spill spread over a vast area of endangered corals…

India's merchandise exports shrank by more than one-third from a year ago, dragged down by a fall in global demand and shipments due to the outbreak of coronavirus, the Trade Ministry said in a statement said on Wednesday.Merchandise exports fell to $21.41 billion in March compared with a year earlier, while imports were down 28.72% to $31.16 billion, the data showed.(Reporting by Aftab Ahmed and Manoj Kumar; Editing by Alex Richardson)

India reached a deal on Wednesday to develop a strategic port in southeast Iran despite U.S. pressure not to rush into any such trade agreements before world powers clinch a final nuclear accord with Tehran. Shipping Minister Nitin Gadkari and his Iranian counterpart Abbas Ahmad Akhoundi signed a memorandum of understanding to develop the Chabahar Port on the Gulf of Oman, near Iran's border with India's arch rival Pakistan. "Indian firms will lease two existing berths at the port and operationalize them as container and multi-purpose cargo terminals," the Indian government said in a statement, adding that a commercial accord would be needed to implement the pact.

India will push ahead this week with plans to build a port in southeast Iran, two sources said, with Prime Minister Narendra Modi keen to develop trade ties with Central Asia and prepared to fend off U.S. pressure not to rush into any deals with Iran. India and Iran agreed in 2003 to develop a port at Chabahar on the Gulf of Oman, near Iran's border with Pakistan, but the venture has made little progress because of Western sanctions on Iran. Now, spurred on by Chinese President Xi Jinping's signing of energy and infrastructure agreements with Pakistan worth $46 billion, Modi wants to swiftly sign trade deals with Iran and other Gulf countries.

India said on Tuesday it may appeal against parts of a World Trade Organization ruling against countervailing U.S. duties on some of its steel exports, despite being partly vindicated in a trade dispute. States impose countervailing duties, or punitively high import tariffs, when they suspect another country of gaining an unfair trade advantage through subsidies. The WTO, ruling on the April 2012 case, said on Monday that the United States had acted wrongly in claiming some Indian subsidy programmes had given steelmakers such as Tata Steel an unfair advantage. "Important issues have been in our favour but there are still some issues on which we are not happy," India Commerce Secretary Rajeev Kher told reporters. "There are several procedural issues which are in U.S.

India's annual infrastructure sector output growth slowed to 2.3 percent in May from 4.2 percent in the previous month, government data showed on Monday. The infrastructure sector, which comprises coal, crude oil, oil refining, natural gas, steel, cement, electricity and fertilisers, accounts for 37.9 percent of India's industrial output. (Reporting by Manoj Kumar; editing by Malini Menon)