India, Saudi Arabia agree to deepen maritime relations, form joint working group
Both countries have formed a Joint Working Group (JWG) on maritime cooperation in the shipping and logistics sectors, marking a new chapter in the strategic partnership, the statement said.
This decision was taken during a high-level virtual meeting between Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal and Saudi Arabia's Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser.
According to the statement, Sonowal underscored the historic and growing relationship between the two nations.
'India and Saudi Arabia share centuries-old economic and socio-cultural ties, he said.
The establishment of the strategic partnership council, co-chaired by the leaders of both countries, has elevated bilateral cooperation to new heights. Sonowal pointed to recent developments, including the launch of the Jeddah–Mundra/Nhava Sheva route by Saudi Arabia's Folk Maritime Services, which is expected to cut down transit times and costs.
He also proposed collaboration on India's MAITRI digital platform for the harmonisation of maritime trade.
Saudi Arabia is India's fifth-largest trading partner, while India stands as the Kingdom's second-largest trading partner. Bilateral trade in FY 2024–25 stood at approximately USD 42 billion.
During the talks, Sonowal highlighted complementarities between India's Maritime India Vision 2030 and Amrit Kaal Vision 2047 with Saudi Vision 2030. India invited Saudi Arabia to explore investment prospects across its port and shipping ecosystem.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
7 minutes ago
- Time of India
Online Gaming Bill: Cricket industry's revenue could be hit due to proposed ban on real money gaming
The 'Promotion and Regulation of Online Gaming Bill 2025 ', which was introduced in the Lok Sabha on Wednesday, could spell the end of "real money gaming platforms", that have stakes in the sponsorship market of Indian sports, most significantly cricket. The contents of the bill, which aims to regulate one of the fastest growing industries, is music to the ears for the Esports fraternity in the country. But the multi-billion dollar fantasy gaming industry comprising companies that have spent big money in sponsorship of cricket might see a marked dip in their revenues. And as a chain reaction, it could also affect the sports sponsorship market, including individual players' sponsorship and franchise-based domestic leagues of disciplines like kabaddi and football. The Online gaming regulation bill looks to create a regulatory body that will look after four diverse segments -- Esports, educational gaming, social and casual gaming and real money gaming. Of these, there will be restrictions on online money games, states the document which is in possession of PTI. As per "PROHIBITIONS" clause: "No person shall offer, aid, abet, induce or otherwise indulge or engage in the offering of online money game and online money gaming service. "No bank, financial institution, or any other person facilitating financial transactions or authorisation of funds shall engage in, permit, aid, abet, induce or otherwise facilitate any transaction or authorisation of funds towards payment for any online money gaming service." The "OFFENCES AND PENALTIES" clause clearly terms real money gaming as a criminal offence which could lead to jail and humongous fine for the service provider. Clause 9. (1) reads "Any person who offers online money gaming service in contravention of section 5 shall be punished with imprisonment for a term which may extend to three years or with fine which may extend to one crore rupees or with both. Clause 9. (2) reads: "Any person who makes or causes to make advertisement in any media, in contravention of section 6, shall be punished with imprisonment for a term which may extend to two years or with fine which may extend to fifty lakh rupees or with both. The government makes it clear that real money gaming is leading to a lot of social problems and it needs some kind of regulation. "....the parallel proliferation of online money games accessible through mobile phones, computers and the internet, and offering monetary returns against user deposits has led to serious social, financial, psychological and public health harms, particularly among young individuals and economically disadvantaged groups; "...such games often use manipulative design features, addictive algorithms, bots and undisclosed agents, undermining fairness, transparency and user protection, while promoting compulsive behaviour leading to financial ruin." Implications of the Bill Cricket is one sport which has seen a huge influx of real money gaming with Indian team's title sponsor being Dream 11. My11Circle is the official fantasy sports partner of the money-spinning Indian Premier League. Dream11 brought the Indian team's title rights for about USD 44 million (Rs 358 crore approx). My11Circle brought IPL fantasy gaming rights for a fee of Rs 625 crore for five years (Rs 125 crore approx annually). Add to this the country's top cricketers -- former as well as current -- have hefty personal endorsement deals with various real money gaming platforms. Noted sports lawyer Vidushpat Singhania, who has a deep understanding of the subject, explained the consequences in a nutshell. "Cricket is huge in India and there won't be any dearth of sponsors for Indian cricket and its properties. However, personal sponsorship market can shrink because of this bill. "Also fan engagement will be affected," Singhania told PTI. He, however, explained that fantasy games can still run a subscription based model. "There will be a subscription fee and say you pay Rs 100 for a gaming app and test your skills in fantasy gaming. But real money gaming which is paying and earning money, that is prohibited as per this bill." The gigantic revenue stream of all these fantasy gaming apps will certainly diminish due to the ban and hence money flowing back into the sport will decrease markedly. Joy for Esports Market Esports made its debut at the Hangzhou Asian Games in 2023 and the International Olympic Committee will be conducting its first Esport Olympics in Riyadh in 2027. Sharing his thoughts on this development, Akshat Rathee, Co-founder and Managing Director of NODWIN Gaming, says, "The government's intent to recognise and promote esports, as highlighted in the recent bill, is an encouraging step towards building a structured and globally competitive ecosystem. "However, for this vision to truly materialise, it is critical that the terminology used in the bill, particularly the distinctions between esports, online gaming, online social gaming, and online money gaming be clearly defined and uniformly understood."
Time of India
14 minutes ago
- Time of India
'No signal from Moscow to end war': Zelenskyy seeks 'strong' US response if Putin avoids talks; shares Donald Trump's suggestion
Volodymyr Zelenskyy (PTI) Ukrainian President Volodymyr Zelenskyy has insisted that his country will never recognise Russia's claim over occupied territories. He said Kyiv wanted a clear understanding of those guarantees within 'seven to ten days' before bilateral or trilateral meetings with world leaders could take place. 'Ukraine will not legally recognise Russia's occupation of its territories,' Zelenskyy said, adding that any potential talks with Moscow could only follow firm international security guarantees. "We want to have an understanding of the security guarantees architecture within seven to 10 days. And based on that understanding, we aim to hold a trilateral meeting. That was my logic," the Ukranian President said. 'If Russia is not ready for a bilateral leaders meeting, then Ukraine and Europe want to see a strong US reaction,' Zelenskyy added. Zelenskyy ruled out including China in security arrangements, arguing Beijing 'did not help after the Russian invasion'. He also said Budapest remained an unlikely venue for future peace talks, describing the idea as 'challenging'. "President Trump suggested a slightly different logic: a trilateral meeting through a bilateral one," Zelenskyy said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like AirSense 11 – Smart tech for deep sleep ResMed Buy Now Undo "But then we all agreed that, in any case, we continue working on the security guarantees, establishing this approximate framework, similar to Article 5. And what we have today is political support for this," he said. His comments followed President Donald Trump's high-profile diplomacy, which included a meeting with Vladimir Putin in Alaska and subsequent talks with Zelenskyy and European leaders in Washington. Trump has suggested that European nations are 'willing to put people on the ground' to secure a deal, while ruling out deploying US troops but keeping the option of air support. The Kremlin has not confirmed Trump's claim that Putin is ready to meet Zelenskyy, with Russian foreign minister Sergei Lavrov cautioning that such a summit would need meticulous preparation. Meanwhile, Russia continued its assault on Ukraine, capturing villages in Donetsk and unleashing one of the largest aerial barrages since July. Ukrainian officials said more than 570 drones and 40 missiles were fired overnight, with air defences intercepting the vast majority but still leaving civilian casualties and widespread damage. 'Russia continues to demonstrate that it is not interested in peace,' Prime Minister Yulia Svyrydenko said. Zelenskyy added that the attacks only underscored the 'need to put pressure on Moscow', urging stronger sanctions and international support to push back against Russia's campaign.
News18
16 minutes ago
- News18
Foreign visitors to Japan hit 3.4 million in July
Tokyo [Japan], August 21 (ANI/ WAM): The number of foreign visitors to Japan in July rose 4.4 per cent from a year earlier to 3.4 million, government estimates showed has recently emerged as a major travel destination, driven by the global popularity of its culture, according to Kyodo Japan National Tourism Organisation said 15 markets, including the United States, France and Indonesia, set new visitor records for organisation said that it will pursue the promotion of strategic inbound tourism while closely analysing market the three-year plan through fiscal 2025, the government aims to boost travel spending per person to 200,000 yen (USD 1,355) and raise the average overnight stay in regional areas to two nights, compared with fiscal 2019 levels of 159,000 yen and 1.4 nights. (ANI/ WAM)
