During the April-June period of the current financial year, net foreign direct investment (FDI) reached US$ 6.9 billion, up from US$ 4.7 billion in the same period last year, according to the latest data from the Reserve Bank of India. This increase is attributed to a 26.4% year-on-year rise in gross inward FDI, totalling US$ 22.5 billion in the first quarter of 2024-25. Key sectors driving these inflows include manufacturing, financial services, communication services, computer services, and electricity and energy, which together accounted for approximately 80% of the total gross FDI.

The report also noted that around 75% of the FDI came from major source countries such as Singapore, Mauritius, the Netherlands, the United States, and Belgium.

India's economic momentum remains "intact" on the back of expansion in manufacturing and services sectors, the finance ministry said in its monthly economic report, while exuding hope of food inflation cooling down with monsoons replenishing water levels in reservoirs.

"As of now, the projection of real GDP growth of 6.5%-7% for FY25, made in the economic survey for 2023-24, seems appropriate," the report said Thursday.

It noted that the resilience of domestic activity is also reflected in the strong performance of the manufacturing and services sector purchasing managers' indices. "The manufacturing growth has been driven by expansion in demand conditions, a rise in new export orders and growth in output prices," it added.

The report said steady progress of the southwest monsoon had supported kharif sowing.

"Replenishing water levels in reservoirs bodes well for the current kharif (summer-sown) and upcoming rabi (winter-sown) crop production," it said, adding that this will further aid in reducing food inflation in the coming months.

Retail inflation fell to a near five-year low of 3.54% in July, largely due to a base effect as food prices eased from previous highs.

The report said the FY25 budget has laid out a glide path of fiscal consolidation. Supported by strong revenue collection, discipline in revenue expenditure and robust economic performance, the fiscal deficit is projected to decline.

At the same time, it said, capital expenditure is maintained at high levels, supporting the fledgling private investment cycle.

Tax collections, especially indirect taxes, which reflect transactions, are growing healthily and so is bank credit, it said.

"Inflation is moderating and exports of both goods and services are doing better than they did last year. Stock markets are holding on to their levels. Foreign direct investment is looking up as gross inflows are rising," it said.

The report said stronger global demand had boosted India's goods exports but imports had also risen due to strong domestic demand. India's goods trade deficit was $23.5 billion in July.

India and Malaysia have sought timely completion of the ongoing review of the India-ASEAN free trade agreement (FTA) and fast-tracking of the review of the the Comprehensive Economic Cooperation Agreement (CECA), while enhancing cooperation in new technology such as semiconductors, fintech, defence industry, AI and quantum, Prime Minister Narendra Modi has said.

Modi and his Malaysian counterpart Anwar bin Ibrahim, on Tuesday, held broad-based discussions ranging from economy to culture, and have decided to promote the countries' relationship from that of bilateral partnership to one of a Comprehensive Strategic Partnership.

UPI, Paynet connect

The two countries entered nine MoUs in digital technologies, tourism, employment and repatriation of workers and traditional medicine, following a meeting between the two leaders, per the Ministry of External Affairs.

"Today, we discussed all areas of mutual cooperation extensively….We have emphasised on stepping up the review of the CECA between India and Malaysia. It has been decided to establish a Digital Council and create a Start-up Alliance for cooperation in digital technology. Work will also be done on connecting India's UPI and Malaysia's Paynet," Modi said in a press statement following his meeting with Ibrahim.

PM Modi pointed out that bilateral trade was making steady progress and trade could now be settled in Indian rupee (INR) and Malaysian Ringgits (MYR). "Last year, n investment worth $5 billion from Malaysia to India has been worked on," Modi said.

Trade pacts

Ibrahim said the two countries will reinvigorate this working relation in all fields. "We discuss as true brothers on all issues, sensitive or otherwise, because this is the true meaning of friendship. We have established an understanding of a number of issues, and the Prime Minister kindly mentioned some of them.

But I have said, as we have said in the meetings, we will extend this," Ibrahim said.

India and Malaysia are part of two free trade pacts – the India-ASEAN FTA (Malaysia is one of the ten ASEAN countries that are signatories to the agreement) and the India-Malaysia CECA.

Both pacts are now under review, with India seeking better terms to reduce its trade deficit with Malaysia as well as the ASEAN bloc.

"Malaysia is an important partner of India in ASEAN and the Indo-Pacific region. India gives priority to ASEAN centrality. We agree that the review of the FTA between India and ASEAN should be completed in a timely manner. India will extend full support to Malaysia's successful ASEAN Chairmanship in 2025," Modi said

South Africa is committed to strengthening bilateral trade and investment with India, the country's Trade, Industry and Competition Minister Parks Tau told a gathering of South African captains of industry and heads of Indian companies. Tau was on Sunday the chief guest at the launch of the India-SA Chamber of Commerce (ISACC), an idea sparked during meetings in Cape Town, Durban and Johannesburg with the High Commissioner Designate for South Africa to India, Prof Anil Sooklal.

He will assume office at the beginning of September as the first Indian-origin South African to head up a mission in India.

"In 2023, India ranked number eight as South Africa's export destination and number four as a source of imports. Over the past five years, our bilateral trade increased from USD 8 billion to USD 13 billion," Tau said.

The minister said the bulk of South Africa's exports to India were commodities, of which coal made up 62 per cent.

"We have not yet reached the target of USD 18 billion. We will intensify our efforts to facilitate trade and investment between the two countries," Tau said.

"This will require an increase in private sector engagements to devise ways of improving trade as well as improve government interaction to deliberate and resolve barriers impacting the expansion of trade, amongst other issues," he said, calling the launch of ISACC "timely".

Tau said trade between India and South Africa should be structured to enable more value-added products and services.

"We anticipate that ISACC will play a pivotal role in ensuring that South African exporters can engage Indian buyers when they undertake selling missions to India.

"India has emerged as an essential source of foreign direct investment in South Africa and continues to actively contribute to our investment drive. We appreciate the presence of Indian companies in our country and encourage more Indian companies to further expand their manufacturing footprint in South Africa," Tau said.

The minister said he believed that both countries could draw from each other's experiences and explore industrial cooperation in sectors with potential, such as renewable energy, automotive component manufacturing and healthcare, particularly pharmaceutical and medical devices.

"We view (ISACC) as a vehicle that will promote trade and investment ties, and assist in fighting the challenges that we as governments face. Working with you can make a greater impact on our economic positions," he said.

ISACC representative Atul Padalkar explained the purpose of the new organisation.

"There are about 130 Indian companies in South Africa. However, there are only about 20 South African companies present in the Indian market," he said.

Padalkar said there were two main questions to be dealt with, the first being how South Africa could increase its exports to India and how it could address the negative trade balance with New Delhi.

"Secondly, how can we as Indian companies in South Africa, contribute as partners to address South Africa's challenges of poverty, inequality and unemployment?"

"We recognised that there was a need for a structure – something that could handle three of the critical issues which were pointed out in these engagements.

"The first one was how can business help in communicating these issues as a collective to the government and bring to their attention what business and government partnership can achieve," Padalkar said.

He said the second was finding ways to maximise the many opportunities for trade and investment and the third was to capacitate small businesses which were the backbone of both the Indian and South African economies.

"Most of the bilateral trade and investment is largely driven by big companies – SMMEs are significantly behind in comparison, so we need to bring them on into this equation," Padalkar said as he pointed out that many of the representatives in the room were from SMMEs.

Zimbabwe imports 90 per cent of pharmaceutical products from India, the African country's Health and Child Care Minister Dr Douglas Mombeshora said on Tuesday. Speaking to IANS at the sidelines of the 19th CII India-Africa Business Conclave, Dr Mombeshora noted that he is looking for partnerships to help start "production in Zimbabwe".

"Almost 90 per cent of our pharmaceutical products come from India, but we would want to see if we can have partnerships where production can be brought to Zimbabwe, rather than having all these products being manufactured so far away," he said. Manufacturing the products in Zimbabwe would also help bring the price of "those products down, and the benefit more of our population".

At the same time, it will benefit the manufacturer "because it will be a bigger market" opportunity, as the market will also cater to neighbouring countries as Zimbabwe is centrally located, he said. "It is thus a winwin situation for both India and Zimbabwe," Dr Mombeshora said. The Minister also said that the country is also looking for partnerships with India on telemedicine.

"We have started already building our e-health platform, but we want to upscale it to levels where we can have telemedicine and also be able to share diagnosis and treatment with our counterparts, specialists who are here in India," he said. Dr Mombeshora said this may benefit a lot of patients who travel to India, seeking specialists for their healthcare needs.

"We realise that there are quite a lot of specialists in India. We have a lot of patients who are coming all the way from Zimbabwe to seek medical treatment in India. But if we develop our telemedicine, we will be able to get some of those treatments," he noted. Dr Mombeshora is part of the delegation led by Zimbabwe's Vice President C.G.D.N. Chiwenga visiting India to participate in the Conclave.

The delegation reached India on Monday. Besides pharmaceutical products, the Minister said: "We are also seeing a lot of agricultural equipment coming from India." "So this conclave helps us open more avenues in terms of accessing those equipment and also interacting with producers," he said. He added that the country is also looking to "upgrade" its e-commerce sector. "There is quite a lot that we see coming. coming out of this conclave. Yes, on the e-commerce, I think we are moving with the world," the Minister said

The government has authorized the export of 200,000 tonnes of non-basmati white rice to Malaysia, facilitated by the National Cooperative Exports Limited (NCEL). Although the export of non-basmati white rice has been prohibited since July 20, 2023, to bolster domestic supply, exceptions are made for certain countries based on their food security needs as approved by the government.

In a recent notification, the Directorate General of Foreign Trade (DGFT) confirmed that the export of 200,000 metric tonnes of non-basmati white rice to Malaysia has been permitted through NCEL.

India has previously allowed the export of non-basmati white rice to countries such as Nepal, Cameroon, Côte d'Ivoire, Guinea, the Philippines, and Seychelles.

NCEL is a cooperative society that operates across multiple states, supported by prominent cooperative organizations in India, including AMUL (Gujarat Cooperative Milk Marketing Federation), IFFCO (Indian Farmers Fertiliser Cooperative Ltd), KRIBHCO (Krishak Bharati Cooperative Ltd), and NAFED (National Agricultural Cooperative Marketing Federation of India Ltd).

The Union Minister of New and Renewable Energy, Shri Pralhad Joshi, chaired the signing ceremony of the first-ever agreement for the export of Green Ammonia from India to Japan. The project offtake agreement, marks a significant step forward in India's journey to becoming a global leader in green hydrogen and ammonia production.

The signing ceremony for heads of terms (HoT) for the cross-border green ammonia supply from India to Japan was also graced by H.E. Mr Simon Wong, High Commissioner of the Republic of Singapore to India; Mr Yuta Hikichi, First Secretary, Embassy of Japan in India; Mr Ajay Yadav, JS, MNRE ; and Mr Vipul Tuli, Chairman – South Asia & CEO – Hydrogen Business, Sembcorp Industries. This agreement represents the first such collaboration between India, Singapore and Japan, underscoring India's growing prominence in the global green energy landscape.

The Heads of Terms (HoT) agreement was signed between Sembcorp Industries, Sojitz Corporation, Kyushu Electric Power Co., and NYK Line, solidifying a cross-border green ammonia supply partnership from India to Japan. This agreement represents the first such collaboration between the two nations, underscoring India's growing prominence in the global green energy landscape.

Singapore-headquartered Sembcorp Industries will lead the production of green ammonia in India, utilizing renewable energy sources. Kyushu Electric Power Co. has committed to integrating this green ammonia into their energy mix, partially replacing coal consumption at their thermal power plants in Japan. Sojitz Corporation will act as the business intermediary, facilitating the connection between the ammonia producer and the offtaker. NYK Line will oversee the maritime transportation of the green ammonia from India to Japan.

Speaking at the event, Shri Pralhad Joshi emphasized the importance of this partnership, stating, "Today is a historic day as we mark the first-ever agreement for the supply of Green Ammonia from India to Japan.

This agreement will help establish a robust supply chain from production in India to consumption in Japan, paving the way for future collaborations in the green energy sector."

The Minister highlighted India's rapid progress in green hydrogen and renewable energy under the leadership of Prime Minister Shri Narendra Modi. He reiterated India's commitment to becoming a global leader in green hydrogen and ammonia production, leveraging partnerships, building robust regulatory frameworks, and making substantial investments in the sector.

Shri Pralhad Joshi also announced that a tender for 7.5 lakh TPA of Green Ammonia is currently live, with additional tenders for 4.5 lakh TPA capacity also floated. These efforts are part of India's broader strategy to award incentives for the production of over a million tonnes per annum of Green Hydrogen, demonstrating India's capability and intent to scale up green energy production at an unprecedented pace.

The Minister further spoke about the deep cultural and people-to-people ties between India, Japan, and Singapore, noting that the three countries are collaborating on energy efficiency and renewable energy technologies. He expressed confidence that this agreement is just the beginning of India's expanding capabilities in the green energy sector, with future endeavors expected to be even more ambitious and impactful.

This agreement not only reinforces India's position as a key player in the global green energy market but also reflects the Government of India's steadfast support for green hydrogen and renewable energy initiatives. The collaboration with Japan is a testament to India's growing expertise and commitment to sustainable development and energy independence.

To meet growing market demand for dependable multipurpose heavy lift cargo coverage ex Europe, AAL Shipping has added a scheduled monthly fast-track 'Europe – Asia Express Liner Service' to its existing portfolio of services from the Continent that already comprises its popular 'Europe – Middle East/India – Asia (EUMEIA) Monthly Liner Service', as well as a monthly 'Mediterranean – Middle East – India Pendulum Service'.

Eike Muentz, General Manager of AAL Europe, explained: "We have listened to the market and increased our already popular, premium multipurpose services to support a plethora of customer needs with more tonnage and more connections. Our portfolio of three distinct monthly services provides customers with regular, trusted and flexible sailings between Europe and its key trading markets around the world and benefits from the employment of premium MPVs from every class of AAL's fleet – including our new Super B-Class, which has already demonstrated its cargo intake credentials by transporting 89,000 freight tons of mixed cargo from Asia to Europe on a single sailing."

While all three services utilise AAL's global fleet of heavy lift multipurpose vessels, ranging from 19,000 DWT up to 33,000 DWT, the 'Europe – Asia Express Liner Service' will also employ Super B-Class vessels, offering lifting capacity up to 700 tonnes and a clear weather deck space of over 5,000 sq m. This provides AAL with the cargo handling capability and intake capacity to parcel any cargo on any sailing, from outsized heavy lift units to smaller breakbulk, general cargoes and even bulk.

Jan-Henrik Heyken, Senior Chartering Manager at AAL Europe, added: "The Europe – Asia Express Liner Service will depart key project cargo hubs in Western Europe and connect them directly with Taichung, Shanghai, Masan and other port calls considered on inducement along the route.

"With these three distinct services, we have something for everybody. Depending on the cargo enquiry, destination, schedule and laycan requirements we can select the optimum ex-Europe service that best fits our customers and their project needs, all the while providing the assurance of award-winning dependability and cargo handling quality that the market has come to expect from AAL."

The Maharashtra state cabinet has approved a new Logistics Policy designed to position the state as a key player in the global logistics sector. This policy is backed by the recommendations from the State Economic Advisory Council and aims to enhance the efficiency of logistics operations within the state while targeting substantial economic growth.

The projected outcomes of the policy are promising. It is expected to generate around INR 30,573 crores (Rs.305.7 billion) in revenue and create approximately 500,000 direct and indirect jobs over the next five years. One of the main goals is to reduce logistics costs from the current range of 14-15% of the state's gross domestic product (GDP) to between 10-11%. To achieve this, the policy will focus on developing over 10,000 acres of dedicated logistics infrastructure, ensuring that Maharashtra becomes a competitive player in logistics not only nationally but also on an international level.

Central to this initiative is the establishment of extensive infrastructure that includes 25 District Logistics Nodes, five Regional Logistics Hubs, five State Logistics Hubs, one National Logistics Hub, and one International Logistics Hub. A key highlight is the planned International Mega Logistics Hub located in the Navi Mumbai-Pune area, coinciding with the development of a new international airport in Panvel. This hub, costing INR 1,500 crores (Rs.15 billion)and extending over 2,000 acres, is expected to attract significant investment and facilitate international trade.

Additionally, the policy includes the creation of the Nagpur-Wardha National Mega Logistics Hub on a 1,500-acre site, connecting directly to the Maharashtra Samruddhi Highway. Other state logistics hubs are set to be developed in strategic locations including Chhatrapati Sambhaji Nagar-Jalna, Thane-Bhiwandi, Ratnagiri-Sindhudurg, Pune Purandar, and Palghar-Pargaon, each planned for 500 acres with a combined investment of INR 2,500 crores (Rs.25 billion).

To drive further growth, the Logistics Policy has provisions encouraging private sector participation. It reserves 15% of the Maharashtra Industrial Development Corporation (MIDC) area in each district for logistics nodes. Financial incentives are a critical component as well, including capital subsidies for eligible logistics parks, support for environmentally friendly logistics practices, and relaxed zoning regulations for multi-storey logistics parks. These measures aim to attract investment and foster innovation in the logistics sector.

The policy also takes into account the needs of micro, small, and medium enterprises (MSMEs) by simplifying the approval process for MSME units involved in logistics activities categorized as green and white. This includes streamlined permissions and no objection certificates within the first year of operations, aiming to empower smaller businesses to compete in the logistics arena. Moreover, provisions for establishing new warehouses and cold storage facilities are designed to support agro-entrepreneurs, allowing them to create localized warehousing solutions in cooperation with farmer producer organizations.

Importantly, this new logistics framework emphasizes sustainability and the adoption of advanced technologies. The integration of green initiatives aims to reduce the carbon footprint associated with logistics operations, reflecting a growing global trend towards sustainability. The adoption of technologies such as robotics and blockchain is also highlighted, which can significantly improve efficiency and transparency in supply chains.

Overall, the Maharashtra Logistics Policy represents a bold step towards modernizing the state's logistics landscape and enhancing its competitiveness. By building a robust infrastructure and promoting sustainable practices, Maharashtra seeks to not only streamline its logistics operations but also tap into the broader opportunities presented by the burgeoning global logistics market. As the state rolls out this comprehensive policy, it opens the door for enhanced economic prospects, job creation, and a stronger position on the international stage.

According to the latest annual report by the Ministry of Road Transport & Highways (MoRTH) for 2023-24, India's first Multi-Modal Logistics Park (MMLP) at Jogighopa in Assam is nearing completion and is expected to be operational by next year, assuming everything proceeds as planned. The project deadline has been delayed a number times due to operational hurdles in the past. The Jogighopa project is notable as the first of 35 such MMLPs that the Government of India has planned to establish across the country, with the development fully funded by the government and executed by the National Highways and Infrastructure Development Corporation Ltd. (NHIDCL).

MoRTH's report highlights that significant progress has been made on various aspects of the Jogighopa MMLP, including the development of road, rail, and water connectivity, site leveling, boundary work, and the construction of administrative buildings and waste treatment facilities. The report also notes that the procurement process is underway for developers on a Public-Private Partnership (PPP) basis to build and operate logistics facilities such as business centers, container yards, warehouses, and cold storage.

The estimated cost for the first phase of the Jogighopa MMLP is Rs 693.97 crore (Rs.6.9 billion), with the foundation stone laid in October 2020 by the Minister for Road Transport & Highways, Shri Nitin Gadkari. MoRTH finalized the Model Concessionaire Agreement (MCA) for MMLPs under the Bharatmala Pariyojana in October 2021, following an extensive process of inter-ministerial consultations. This agreement, along with the Model RFP document finalized in November 2021, will guide the development of individual MMLP projects.

MoRTH's report further details the broader plan to develop 35 MMLPs across India as part of the Bharatmala Pariyojana, with an anticipated total investment of around Rs 46,000 crore (Rs.460 billion). These logistics parks, once operational, are expected to handle approximately 700 million metric tonnes of cargo. The report emphasizes that 15 of these MMLPs have been prioritized for development, with a total investment of about Rs 22,000 crore (Rs.220 billion), and six MMLPs have already been awarded in locations including Jogighopa, Chennai, Indore, Bengaluru, Nagpur, and Jalna.

The Ministry also plans to sanction seven additional MMLPs in 2024-25, with bids already invited for projects in Anantapur, Pune, and Nashik. This strategic initiative by MoRTH underscores the government's commitment to enhancing India's logistics infrastructure, with the Jogighopa MMLP serving as a pivotal project in this nationwide effort.

DP World, a leading global provider of smart end-to-end supply chain solutions, has announced that its International Container Transshipment Terminal (ICTT) at Cochin delivered a record-breaking performance by handling over 72,000 TEUs for three consecutive months. ICTT handled 73,636 TEUs in July 2024, delivering 25% volume growth from May – July period of FY2024-2025. This strong performance comes on the back of a robust June 2024 volume of 79,044 TEUs.

In the current CY alone, DP World Cochin has facilitated about 40 additional vessel calls to support growth of trade in the region, during which the terminal has successfully handled ULCV (Ultra Large Container Vessels) such as MSC Aurora, MSC Darlene and MSC Mariagrazia, all of which are over 365 metres in length. Further, ICTT has also recorded the highest growth at 22% in the April-July period of FY24-25. The terminal has consistently recorded higher volumes this FY, with the highest at 79,044 TEUs in June 2024.

Moreover, it has berthed over 7,800 vessels since inception and handled the highest-ever transaction on a single vessel (6,157 TEUs with MSC Aurora) in June 2024.

In the financial year 2023-24, DP World Cochin achieved its highest-ever combined volume of 754,237 TEUs, solidifying its position as South India's preferred gateway for trade through consistently enhanced performance.

Speaking about DP World Cochin's record-breaking performance and growth, Mr Praveen Thomas Joseph, CEO, DP World Ports & Terminals, Cochin, said, "DP World Cochin has consistently provided exceptional efficiency to our customers, reaffirming our dedication to supporting the state's infrastructure and driving economic growth. In Q1 2024, we introduced new STS cranes, e-RTGs and expanded yard space, boosting our total capacity to approximately 1.4 million TEUs per annum, solidifying DP World Cochin as one of the largest terminals in South India".

DP World's ICTT provides mother vessel (mainline) connectivity to the Far East, Southeast Asia, Middle East Europe/Mediterranean and Singapore. This allows 50% of the cargo to connect directly on mother vessels, avoiding congested hubs, resulting in faster and reliable transit times. It also offers regular connectivity to multiple transhipment hubs like Singapore, Port Klang, Colombo, Jebel Ali and Mundra.

DP World Cochin has also made considerable strides to enhance operational efficiency with gate automation, eliminating paper transactions and accelerating cargo handling. The terminal has made real-time vessel details available to optimise shipment planning and logistics. The user-friendly interface improves navigation and transparency, making shipment tracking much easier for customers.

To support EXIM trade from the state, DP World opened its 75,000 sq. ft. state-of-the-art Cochin Economic Zone that is co-located with a container terminal to enable seamless trade. This newly launched economic zone is Kerala's first Free Trade Warehousing Zone (FTWZ) and India's first economic zone within a Major Port, further strengthening its position as South India's preferred gateway to trade, highlighted a release.

Adani Krishnapatnam Port in Andhra Pradesh on Tuesday unveiled an advanced cargo handling system, which will enhance its existing capacity and productivity, the company said.

The new systems will streamline the management of both containerised and bulk cargo and are set to revolutionise cargo operations at the port and deliver efficiency and reliability, the private port operator said in a statement.

The advanced cargo handling system uses advanced technology to boost efficiency and cargo throughput with key features such as automated tracking, real-time data analysis, and improved logistics coordination, enhancing speed, accuracy, safety, and reducing costs, it stated.

"Adani Krishnapatnam port has enhanced infrastructure to increase the safety and sustainability and contribute to nation building. We offer substantial economic benefits to Indian importers combined with highly efficient port operations and evacuation system with faster turnaround time and delivery," the operator said.

Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal on Thursday said that the container handling facility at Jawaharlal Nehru Port is being scaled up to 10 million TEUs.

Speaking with reporters after reviewing various infrastructure and development projects at the port, the minister also said that the upcoming Vadhvan Port in the Palghar district of Maharashtra would generate 10 lakh jobs in the region.

To be built as an all-weather port, the greenfield deep draft mega port will come up at an investment of Rs 76,200 crore (Rs.762 billion).

The minister said JNPA soon will have a container handling capacity of around 10 million TEUs

A senior JNPA official said that the container handling capacity currently stands at 7.4 million TEUs, which will go up to 10.4 million TEUs by April next year.

Sonowal said that Jawaharlal Nehru Port has become the first 100 per cent landlord port in the country, adding that, "accordingly we are aiming for bigger and bigger ships at this facility."

He also said that the port has developed quality infrastructure an is going to become an eco-friendly Port.

A landlord port acts as a landlord and regulatory body while private companies handle port operations.

JNPA also announced the signing of two MoUs — one between the JNPA, Vadhvan Port, and REC for the disbursement of loans to support various infrastructure projects.

While the other one is between JNPA and Gateway Terminals India (GTI) for the implementation of shore power supply for vessels. Both the MoUs were inked in the presence of the Minister.

The minister also issued a Letter of Intent (LoI) to the concessionaires for its special economic zone (SEZ).

Significantly, the port operator has allotted plots for its SEZ in seven phases.

The recent e-auction of phase seven for 57 acres of land, JNPA said, received a remarkable response, with 21 bidders submitting bids for six unit plots and three co-developer plots.

Moreover, there was an overall 95.23 per cent increase in quoted value for these plots attracted an overall 95.23 per cent higher price above the reserve price, resulting in a revenue increase of 63 per cent above the reserve price for the port, it said.

In FY24, according to the port operator, its SEZ was able to generate EXIM trade worth Rs 15,000 crore (Rs.150 billion).

As part of the strategic engagements, JNPA also declared August 22, 2024 as the date of award of concession to the concessionaire of two additional liquid berth 3 and 4, which on completion will take the ports liquid cargo capacity to 11MM tons per annum from 6.5 MMTPA at present with two existing liquid cargo berths.

These two additional berths will be equipped, operated, maintained, and eventually transferred through a Public-Private Partnership (PPP) model.

For this expansion, JNPA had awarded a Letter of Intent was JSW Infrastructure Limited on February 19, 2024, and the Concession Agreement with the company was signed on April 8.

The minister also launched a Whatsapp chatbot for the Vadhvan skilling programme developed by INPAT to empower the local community and enhance workforce development. This tool is designed to facilitate access to skilling programs, provide information about Vadhvan Port among others.

Sonowal also said that the government has completed 230 projects under the Sagarmala Project so far while another 220 projects are under different stages of implementation. "So this is how we are progressing," he added.

Later the minister also undertook a review meeting with the Palghar District officials on the Vadhvan Port, the foundation stone for which will be laid by Prime Minister Narendra Modi on August 30, as per the JNPA official.