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A68 iceberg on collision path with South Georgia

first_imgIf the world’s biggest iceberg grounds at South Georgia island, it could devastate local wildlife.- Advertisement –last_img

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Budget sops to yield Rs 7,500 cr more through garment exports

first_imgNew Delhi, Mar 1 (PTI) Tax sops such as slashing of basic customs duty on specified fibres and yarns, continuation of duty free import of trimmings and embellishments announced in the busget will generate additional garment exports worth Rs 7,500 crore in 2016-17, an industry body said today. “Total additional exports of Rs 7,500 crore in 2016-17 are envisaged by the incentives announced in this Budget,” Apparel Export Promotion Council Chairman Ashok G Rajani said. He said the addition of 1 per cent Free on Board (FOB) value of exports in custom duty for specified fabrics would enable garment exporters to undertake production where they were not competitive. “In the year 2016-17, fabrics worth around Rs 1,000 crore (1 per cent of Rs 1 lakh crore) would be eligible for imports and custom duty of Rs 110 crore would be saved by garment exporters. “This will give avenues for new product development. It would provide additional exports of Rs 2,500 crore in a complete year,” Rajani said. Besides, the continuation of duty free import of trimmings and embellishments to the extent of 5 per cent of FOB would give additional garment export of Rs 5,000 crore in 2016-17, he said. PTI RSN MRlast_img read more

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India Starts Building LNG Import Terminal in Dhamra

first_imgzoom India has taken a step toward increasing seaborne imports of liquefied natural gas (LNG) as the country held a ground breaking ceremony for the construction of an LNG terminal in Bhadrak.Officials informed that cargoes carried from the US, Canada and Qatar would be delivered to the INR 60 billion (USD 930.3 million) Bhadrak terminal, which will be located at the port of Dhamra. Although India has import terminals in Gujarat and Maharashtra, the new terminal will be the country’s first LNG terminal.Under the development plans, the LNG terminal will have a capacity of 5 million metric tons per year and is expected to contribute to the process of development and economic growth in eastern India, according to Dharmendra Pradhan, India’s Minister of Petroleum and Natural Gas.Pradhan further informed that the terminal, which will provide employment and investment opportunities, along with access to clean fuel, is expected to be commissioned by 2020-21.“Dhamra will be a vital link in connecting Eastern India to the gas infrastructure of the country and will also benefit neighboring countries,” Pradhan said.World Maritime News Stafflast_img read more

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