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Rs 70 Lakh Crore Investment in Odisha's Ports
Investment Plans for Ports: Odisha is planning to attract an investment of Rs 70 lakh crore in its ports sector by 2047. This ambitious plan will enhance the state’s maritime infrastructure, improving port facilities and making them more efficient for global trade.Economic Growth and Trade: The state government’s vision focuses on increasing Odisha's role in India’s maritime sector. By upgrading port infrastructure, Odisha aims to boost trade, create economic opportunities, and strengthen its position as a crucial player in global shipping.World-Class Port Facilities: The investment will..
Port delays and red tape strain India’s 10,000 steel user units
Over 10,000 steel user units in India are grappling with operational and financial difficulties due to significant port delays and complicated regulatory hurdles, according to the Global Trade Research Initiative (GTRI). These challenges have started to take a toll on the production and export capabilities of several industries reliant on imported steel. GTRI has called on the Indian government to streamline import processes and digitize systems to provide much-needed relief to the sector. The think tank highlighted that policies aimed at protecting domestic steelmakers, such as import restri..
Steelmakers Urge Government to Impose Temporary Tax to Curb Cheap Imports
India’s steelmakers have appealed to the government to urgently impose a temporary tax on cheap steel imports from China, Japan, and South Korea. The Indian Steel Association (ISA) has raised concerns about the rising influx of steel at predatory prices, which is severely affecting the domestic steel industry. The ISA, representing major steel producers like JSW Steel, Tata Steel, and Steel Authority of India, made this plea in a presentation to the Directorate General of Trade Remedies (DGTR), a division of the federal trade ministry. According to the ISA, steel mills in India are experienc..
