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MoPSW to develop new shipbuilding scheme to incentivise Indian shipyards till 2035
Additionally, global cruise giant MSC Cruises has shown interest in deploying ships for domestic routes in India. Read more
No PLI proposals for shipping container manufacturing; GOI
The PLI scheme, which was introduced in 2021, supports 14 sectors, including telecommunications, textiles, medical devices, automobiles, and more, with a total budget of Rs 1.97 trillion.Read more
Over 500,000 industrial robots shipped in 2023 globally
The industrial robot market growth trajectory is in line with global manufacturing output figures.Read more
India's imports from ASEAN FTA partners; $187.92 billion in FY24
Exports to Asean countries grew from $37.47 billion in FY19 to $41.21 billion in FY24, marking a 9.96 per cent increase. Read more
India's defence sector holds prospect of $138 billion from FY24-32
This growth is owing to escalating defence budgets, modernisation initiatives, and the government's emphasis on indigenous manufacturing through programs like ‘Make in India’.Read more
FTAs boost Engineering exports; shipments to Russia double
While Russia has become a major trading partner in the last two years largely due to imports of petroleum crude, engineering exports to the country have doubled during April-February this yearRead more
The Red Sea crisis: Lessons for logistics sector
Certain geopolitical complexities, such as the ongoing Red Sea crisis, present challenges in the smooth maritime operations and affect global trade. Pushpank Kaushik shares some valuable thoughts on sustaining the growth of India’s logistics and shipping sector amid these crises.Read more
Low voltage AC drive shipments exceed 20 m in 2023
According to the market intelligence specialist, the pace of low voltage (LV) AC drive market growth slowed last year and is expected to continue to do so in 2024, with steady growth returning to the global drives market in 2025.Read more
Indian exporters navigate global shipping challenges amidst Red Sea conflict
Dr Ajay Sahai, the DG and CEO of the Federation of Indian Exporters Organisation urged for local production of corrugated steel, a component not presently manufactured in India, through backward integration.Read more
PM Modi unveils Rs 4,000 cr Maritime Boost in Kochi for India's Nautical Advancement
These initiatives encompassed the construction of a 310-metre-long New Dry Dock (NDD) at Cochin Shipyard Limited (CSL).Read more