Australia's Goodman Group creates $2.7 billion group to invest in Hong Kong data centres
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The Hindu
27 minutes ago
- The Hindu
AP Maritime Board and APM Terminals sign pact for development of seaports in Andhra Pradesh
The Andhra Pradesh Maritime Board (APMB) and APM Terminals, a subsidiary of the Netherlands-based A.P. Moller Maersk, have entered into an agreement for the development of ports and creation of port infrastructure in the State. Senior executives of the APMB and APM Terminals signed the pact in the presence of Chief Minister N. Chandrababu Naidu at the Secretariat on Thursday. As part of the agreement, APM Terminals would create infrastructure (modern terminals, cargo handling facilities etc.) at and manage the upcomingRamayapatnam, Machilipatnam, and Mulapeta seaports, an official release said. The Dutch maritime sector giant would invest around ₹9,000 crore in the infra development in the Andhra ports, creating employment and livelihood opportunities for nearly 10,000 people. On the occasion, Mr. Naidu stressed the significance of creating an economic ecosystem driven by seaports which play a major role in development, and sought the support of APM Terminals for bringing about an integrated logistics framework that covered cargo transportation through railways, roads, inland waterways and by air. The State should take advantage of the dependence of Telangana and parts of Chhattisgarh, Maharashtra, Karnataka, and Odisha on Andhra Pradesh for their businesses, he suggested. Secretary (Industries) N. Yuvaraj and APM Terminals MD (Asia & Middle East) Jonathan R. Goldner signed the agreement. Minister for Roads and Buildings and Infrastructure B.C. Janardhan Reddy, Maersk Group Head (Public Policy & Regulatory Affairs - India, Bangladesh & Sri Lanka Region) Vivek Sharma, and Manager (Public Policy) Deepali Negi, APMB Chairman Damacharla Satya and CEO Praveen Aditya, and Pipavav Port MD Girish Agarwal were present.
The Hindu
27 minutes ago
- The Hindu
Madras Day 2025: On Madras dealing with the Chinese
Towards the end of July this year, at the AGM of the Madras Chamber of Commerce and Industry, the country's second oldest trade body and founded in 1836, Vellayan Subbiah of Murugappa Group addressed the audience. He spoke on how China has developed in the last few decades and how much India has to catch up if it intended to be serious competition. Also Read: Tamil Nadu's oldest and India's second trade body still puts up a fight for industry Listening to it brought to mind the decades of unease that has existed in the relationship between the two countries. But far older to that, of course, is China's interaction with south India. When a few years ago Prime Minister Narendra Modi made Mamallapuram his location of choice for his summit with Xi Jinping, the paramount leader of China, he was perhaps trying to re-establish a relationship of healthy exchange that had once existed. The accounts invariably begin with Bodhidharma, the 6th Century CE south Indian (as per one version), who travelled to China, met the Emperor Wudi, counselled him, and then stayed on in that country. The legend of Bodhidharma, and it has to be qualified as that, if correct in terms of date and location, makes him a contemporary of the Pallavas. Since then, and especially after the release of the film 7am Arivu, Bodhidharma has grown in stature and has been passed off as fact. The problem there is lack of documentation. But we do have better records of another who made the journey in reverse order —Xuanzang. He travelled to India in the 7th century CE and, incredibly, made it back safely to China as well. During his sojourn in India, he came to Kanchi too. Trade with China was another matter altogether. It had probably existed from time immemorial and, certainly, we do know that trade relations existed during Pallava and Chola times. Rajaraja and later Kulothunga I sent trade delegations to that country with a view to boost business. During colonial times, the East India Company, while it made over most Asian trade to its servants, jealously guarded its rights over China. Madras was the point of entry for most Chinese goods, which included copper, quicksilver, sugar (still known as Chini), and zinc. The last named was known then as tutenag in Europe, and even today, the word thuthanagam is prevalent as a term for anodising in Tamil. Circulation of fake currency Once in a while, the Chinese would show their true colours — a famed incident in the 18th Century CE was their dumping on us fake pagodas, the currency then in use in Madras, with a far lower gold content. It gave the Company quite a headache to sort that out. But an indicator of a future history of conflict was the Opium War, fought between the British and the Chinese in the 1840s, which ended in the ceding of Hong Kong. Soldiers from Madras, comprising infantry regiments, sappers, and miners, were employed by the British in Canton, Nanking, and other places. China Bazaar in Madras is still an abiding name. And though it may have derived from porcelain alias 'china' being sold here, it is intriguing that Chinese dentists settled here from the 1930s onwards and some continue their practice. They have very little to do with China itself and a point to ponder is that during the Chinese aggression of 1962, they contributed to the Indian War Fund! In more recent years, Sino-Indian border conflicts have dominated the news. But a Chennai-based engineering company did the unthinkable — it became the first such entity from India to set up a manufacturing plant in China! Sundram Fasteners (Zhejiang) Limited began operations in 2004 and continues to flourish. It just goes to show that conflicts will happen, kingdoms and governments will rise and fall, but trade is eternal.
The Print
an hour ago
- The Print
Silence & compromise will embolden the bully—Chinese envoy targets US over 50% tariff on India
The comments by the Chinese ambassador come as ties between India and the US have hit a rough patch. US President Donald J. Trump followed the announcement of a 25 percent baseline tariff on Indian goods with a threat to impose a punitive secondary tariff of 25 percent citing New Delhi's continued purchase of Russian oil and defence systems. 'The US has long benefitted from free trade. Now it is using tariffs as a bargaining chip on countries including India … China is against such use of tariffs. Silence and compromise will only embolden the bully. China stands with India,' the Chinese envoy said while speaking at the SCO Summit 2025, hosted by the Chintan Research Foundation (CRF) in New Delhi. New Delhi: The Chinese ambassador to India Xu Feihong Thursday targeted the Trump administration for imposition of 50 percent tariffs on Indian goods, labelling Washington D.C as a 'bully'. Trump is also frustrated over stalled negotiations for a bilateral trade deal between India and the US. The negotiations have stalled due to India's red lines—allowing greater market access for American agricultural and dairy products. Even as ties with the US remain strained, New Delhi and Beijing have moved forward with measures aimed at reducing tensions between them. Ties had cratered in 2020 following the military clashes in eastern Ladakh. It remained tense until Indian Foreign Secretary Vikram Misri on 21 October, 2024, announced that both militaries had reached an agreement to disengage at friction points along the LAC. That agreement paved the way for Prime Minister Narendra Modi to meet Chinese President Xi Jinping on the margins of the BRICS leaders summit in the Russian city of Kazan on 23 October, 2024. India and China have since instituted a number of confidence-building measures including resumption of the Kailash Mansarovar Yatra and issuance of tourist visas to Chinese nationals. Ambassador Xu Thursday welcomed the issuance of visas for Chinese nationals, hoping that it would continue to do so un-impeded, while also calling on India to do more to allow the exchange of academics and expansion of people-to-people ties between the two countries. The Chinese Ambassador also pushed for greater cooperation between India and China to 'stabilise' the region in an increasingly 'unstable' international environment. 'The good relations between our two countries is not targeting any third country. The improvement and development between our two countries are beneficial to the both of us,' said Xu. Adding, 'Because we are important emerging economies—the good relationship between the two countries will be important for the security of this region. China and India should play a leading role under the current international forums.' (Edited by Amrtansh Arora) Also Read: After Doval-Wang talks, India & China agree to go back to 2005 agreement. Why it matters
