logo
MoU signed for cargo movement by barges over inland waterways

MoU signed for cargo movement by barges over inland waterways

The Hindu06-05-2025

:
In a bid to start barge services for transporting cargo across key national waterways, the Inland Waterways Authority of India (IWAI) on Tuesday (May 6, 2025) signed a Memorandum of Understanding (MoU) with global logistics major Rhenus Logistics India Private Limited.
'As part of the MoU, Rhenus will introduce 100 barges in a phased manner in the national waterways while 20 barges and 6 pushers [are] to be deployed in the first phase, targeting the movement of more than one million tonnes of cargo annually by the end of 2025,' the Ministry of Ports, Shipping and Waterways said in a statement.
'Inland waterways offer a remarkable opportunity to create a greener, cost-effective, and efficient logistics network,' Union Minister of Ports, Shipping and Waterways Sarbnanda Sonowal said, speaking at the event.
To begin with, Rhenus will operate on the Ganga, Brahmaputra, and Barak rivers, as well as the Indo-Bangladesh Protocol route, moving bulk and break bulk (non-standardised, individual units of) cargo across the north, east, and northeast India, with gradual expansion to other national waterways.
By leveraging Rhenus's expertise in European inland navigation, and its global fleet of over 1,100 barges, the partnership aims to bring global best practices to India. 'A combination of pushers and barges to suit the low draft navigation will be used to transport both bulk and break bulk cargo,' the Ministry said.
The number of operational national waterways in India grew from three in 2014-15 to 24 by 2023-24, with a target of 29 by 2024-25. Cargo movement has surged from 30 million metric tonnes per annum (MMTPA) in 2014-15 to 133 MMTPA in 2023-24, adding up to the cumulative movement of over 779 MMT in the past decade, according to the Ministry.
Currently, 14,500 km of navigable waterways span 111 declared national waterways, and the sector is poised to play a transformative role in the country's multimodal logistics framework, the Ministry said.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

India needs better regulatory framework to attract investments: Swiss diplomat
India needs better regulatory framework to attract investments: Swiss diplomat

Time of India

time15 minutes ago

  • Time of India

India needs better regulatory framework to attract investments: Swiss diplomat

Switzerland's State Secretary for Economic Affairs Helene Budliger Artieda has said a good regulatory framework and cut in red tape in India is important to attract Swiss investments. She said businesses here have raised concerns about bureaucratic hurdles. India and the four European nation bloc EFTA has signed a free trade agreement on March 10, 2024, which is expected to come into force from October 1. Under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates, and cut and polished diamonds at lower or zero duties. Also Read: India is a preferred place for Swiss businesses: State Secretary for Economic Affairs Live Events The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. She said for USD 100 billion investments, "we need to have the best framework conditions and this was part of the business roundtable meeting in the presence of Minister Goyal". "That will be important that red tape will be cut as much as possible. Even in Switzerland, companies always complain that there is too much red tape. It will be very important that India creates a good framework for Swiss investments to come in," she told reporters here after meeting Goyal on June 10. The Indian minister was here on a two-day official visit to meet businesses to attract investments into India. On the issue of Swiss government suspending the most favoured nation (MFN) status clause in the Double Taxation Avoidance Agreement (DTAA) between India and Switzerland, Artieda said there has been some misunderstanding on this. "But it really has no connection whatsoever... I think it's important to know that both India and Switzerland share a double taxation treaty and that treaty is valid and that means there will not be any issue," she said. In a statement in December 2024, the Swiss government announced the suspension of the MFN clause in the DTAA between India and Switzerland, potentially impacting Swiss investments in India and leading to higher taxes on Indian companies operating in the European nation. She also said implementation of the trade agreement will help increase exports of Swiss watches and chocolates in India. Also Read: Govt may help MSMEs register products abroad: Piyush Goyal Swiss companies will have the advantage of preferred access to markets in India for both watches and chocolates due to this pact. Further she added that Switzerland is confident of achieving the USD 100 billion investment commitment in 15 years in India. "I am very confident we will achieve that," she said. India-EFTA two-way trade was USD 18.65 billion in 2022-23 (of this, USD 17.14 billion with Switzerland) compared to USD 27.23 billion in 2021-22. The trade deficit was USD 14.8 billion in the last fiscal year. In 2024-25, India's imports from EFTA bloc increased to USD 22.5 billion from USD 22 billion in 2023-24. Exports stood at USD 1.96 billion in the last fiscal year, up from USD 1.94 billion in 2023-24. Switzerland is the largest trading partner of India in the bloc, followed by Norway. EFTA countries are not part of the European Union (EU). It is an inter-governmental organisation for the promotion and intensification of free trade. It was founded as an alternative for states that did not wish to join the European community. India is negotiating a comprehensive free trade agreement separately with the EU -- the 27-nation bloc. India has received about USD 10.83 billion in foreign direct investments (FDI) from Switzerland between April 2000 and March 2025. It is the 12th largest investor in India. The FDI inflow was USD 931.88 million from Norway, USD 29.41 million from Iceland and USD 105.93 million from Liechtenstein during the period.

Rishabh Instruments jumps after arm inks pact with Germany-based energy firm
Rishabh Instruments jumps after arm inks pact with Germany-based energy firm

Business Standard

time21 minutes ago

  • Business Standard

Rishabh Instruments jumps after arm inks pact with Germany-based energy firm

Rishabh Instruments rallied 5.15% to Rs 316.45 after the company's wholly owned subsidiary, Lumel SA signed a contract worth Euro 5 million (Rs 50 crore) with leading Germany based energy sector company to supply electronics devices. The company has signed a contract with leading Germany based company operating in the energy sector to supply the advanced electronics devices that will play a critical role in supporting industrial automation initiatives within the energy industry. This strategic partnership stems from several months of collaborative development and engineering efforts between the teams at Lumel SA and the German company. The resulting products are tailored solutions, engineered to address the specific technical and operational requirements of the energy sector. This agreement is valid through the end of 2026, with strong potential for extension based on performance and evolving project needs. Dineshkumar Musalekar, whole-time director of Rishabh Instruments, said, This Euro 5 million contract marks a pivotal milestone in our European expansion strategy, affirming us as a trusted technology partner in the global energy sector. Our collaboration with the leading Germany based energy sector company, a respected leader across Europe and international energy markets, underscores our capability to deliver sophisticated, customized solutions for critical industrial applications. The success of our recent facility modernization has strategically positioned us to meet the growing demand for advanced energy automation solutions. Germanys leadership in the energy transition makes this partnership very crucial for us. As we continue to expand our product portfolio, this collaboration establishes a robust foundation for sustained growth in Europes most dynamic energy markets. Rishabh Instruments is engaged in the business of manufacturing, design and development of global energy efficiency solutions. It focuses on electrical automation, metering and measurement, precision engineered products. It is the global leader in manufacturing and supply of analog panel meters, and among the leading global companies for manufacturing and supply of low voltage current transformers. The companys consolidated net profit jumped 43% to Rs 116.20 crore on 54.5% increase in net sales to Rs 984.48 crore in Q4 FY25 over Q4 FY24.

DRDO showcases future-ready defence tech at Indo-Defence 2024 in Jakarta
DRDO showcases future-ready defence tech at Indo-Defence 2024 in Jakarta

Business Standard

timean hour ago

  • Business Standard

DRDO showcases future-ready defence tech at Indo-Defence 2024 in Jakarta

The Defence Research and Development Organisation (DRDO) is participating in the Indo-Defence 2024 exhibition in Jakarta, Indonesia, from June 11 to 14, as part of the India Pavilion. The event provides a platform for DRDO to showcase India's cutting-edge defence technologies from its defence R & D powerhouse. In a post on X on Tuesday, DRDO shared information and attached a video showcasing some of its cutting-edge technologies, such as ASTRA MK-I, Remotely Operated Vehicle-Daksh, Low Frequency Dunking Sonar (LFDS-X), Airborne Early Warning and Control (AEW & C), Wheeled Armoured Platform (Whap), Varunastra Heavy Weight Torpedo, and Man Portable Anti-Tank Guided Missile. DRDO is showcasing Future-Ready Defence Technologies at #IndoDefence2024 in Jakarta as part of India Pavilion ???? Hall F-46, JIExpo Kemayoran ???? June 11-14, 2025 Explore cutting-edge innovations from India's defence R&D powerhouse. #MakeInIndia #AtmanirbharBharat — DRDO (@DRDO_India) June 10, 2025 Sharing the details, DRDO posted that the India Pavilion, where its technologies are showcased, is located at Hall F-46, JIExpo Kemayoran, Jakarta. Earlier, in line with the government's vision to establish a robust defence industrial ecosystem with the participation of both public and private sectors, Vehicles Research & Development Establishment (VRDE), a DRDO laboratory located in Ahilyanagar, Maharashtra, has taken a major step forward by transferring technologies of nine systems to 10 industries. The licensing agreements were handed over in the presence of the Secretary of Defence R & D and Chairman of DRDO, Dr Samir V Kamat, during an event organised at VRDE on June 7, according to the Ministry of also signed an MoU with COEP Technological University, Pune, to collaborate on cutting-edge technologies and emerging areas. Speaking on the occasion, Dr Kamat complimented DRDO and the industry for the exceptional performance of indigenous systems during Operation Sindoor. He also suggested that the industry plan for surge capacity. He appreciated the efforts of VRDE in providing high-end technological solutions for land systems and weapon platforms. Scientist and Director General (Armament and Combat Engineering) Cluster, DRDO Prof (Dr) Prateek Kishore; Director, VRDE G Ramamohana Rao and other senior scientists were present at the occasion with industry representatives. Last month, DRDO inaugurated the Quantum Technology Research Centre (QTRC) at Metcalfe House, Delhi. The facility was inaugurated by the Secretary, Department of Defence R & D and Chairman, DRDO, Dr Samir V Kamat, to further strengthen Indigenous quantum capabilities for strategic and defence is equipped with state-of-the-art experimental setups designed to propel research and development in critical quantum domains. The key capabilities of this centre include Characterisation of Vertical-Cavity Surface-Emitting Lasers and Distributed Feedback Lasers; Test-beds for evaluating single-photon sources; Set-up for characterisation of Micro-Fabricated Alkali Vapour Cell; and Experimental platforms for developing and validating Quantum Key Distribution techniques to enable ultra-secure communication and safeguard national security in the post-quantum era, spearheaded by Scientific Analysis Group (SAG), DRDO. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store