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Time of India
6 hours ago
- Time of India
GMR Airports to develop cargo city at Delhi airport
New Delhi: GMR Airports Ltd will be developing a cargo city spread over 50.5 acres of land at the Delhi airport. Independence Day 2025 Before Trump, British used tariffs to kill Indian textile Bank of Azad Hind: When Netaji gave India its own currency Swadeshi 2.0: India is no longer just a market, it's a maker The Indira Gandhi International Airport (IGIA) in the national capital is the country's largest airport and is operated by the Delhi International Airport Ltd (DIAL), which is a subsidiary of GMR Airports. According to a regulatory filing, the cargo city project involves developing state-of-the-art cargo and logistics facilities over a total of 50.5 acres land within the IGIA, which includes a 10-acre optional land parcel that may be taken up in the future. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Become Fluent in Any Language Talkpal AI Sign Up Undo GMR Airports has "emerged as the selected bidder to finance, design, develop, construct, operate, manage and maintain the cargo city at the Indira Gandhi International Airport, New Delhi (project) for an initial period of up to year 2036, which may further be extended by 30 additional years," the filing made on Wednesday said. In this regard, GMR Airports has received a Letter of Intent to Award (LOIA) the project from DIAL. Live Events "The project is based on the revenue share payment model to DIAL which would be ascertained based on the revenue from cargo city business on year on year basis with a minimum monthly guarantee payable by the company to DIAL, for an initial period of up to year 2036 amounting to an estimated aggregate amount of Rs 415.74 crore," the filing said. The filing also said the transaction is a related party transaction on arms' length basis and necessary approvals were duly obtained in accordance with Sebi Listing Regulations and Companies Act, 2013. DIAL is a consortium led by the GMR Group.


Economic Times
7 hours ago
- Economic Times
India requests UK to fast-track process to operationalise trade pact: Commerce Secretary
Synopsis India has urged the UK to expedite the approval of the free trade agreement, aiming for its swift implementation. Signed on July 24, the agreement awaits UK Parliament's approval. Once operational, it will grant zero-duty access to Indian exports, offsetting potential disadvantages faced in the US market due to tariff differences. iStock Representative image. New Delhi: India has requested the UK to fast-track the approval process of the free trade agreement so that it can be implemented as early as possible, Commerce Secretary Sunil Barthwal said on Thursday. The India-UK comprehensive economic and trade agreement (CETA) was signed on July 24. It needs approval from UK Parliament for implementation. He said if in the next six months, the India-UK trade agreement gets operationalised, it will immediately provide zero duty access to Indian exports in Britain, so any disadvantage from tariff differential that the Indian exports may face in the US would get covered in the UK. "We have also requested the Uk to fast-track so that it comes into force as early as possible," Barthwal told reporters here. On July 24, India and the UK signed a landmark free trade agreement, which, starting next year, will see 99 per cent of Indian exports enter the UK duty-free, while reducing tariffs on British products such as cars and whisky in the Indian market. While India has opened its market to various consumer goods, including chocolates, biscuits, and cosmetics, it will gain greater access to export products such as textiles, footwear, gems and jewellery, sports goods, and toys. Also, Indian companies, such as TCS and Infosys, operating in the UK won't have to make social security contributions for up to three years for employees who move from India.


Time of India
8 hours ago
- Time of India
India requests UK to fast-track process to operationalise trade pact: Commerce Secretary
New Delhi: India has requested the UK to fast-track the approval process of the free trade agreement so that it can be implemented as early as possible, Commerce Secretary Sunil Barthwal said on Thursday. Independence Day 2025 Before Trump, British used tariffs to kill Indian textile Bank of Azad Hind: When Netaji gave India its own currency Swadeshi 2.0: India is no longer just a market, it's a maker The India-UK comprehensive economic and trade agreement (CETA) was signed on July 24. It needs approval from UK Parliament for implementation. He said if in the next six months, the India-UK trade agreement gets operationalised, it will immediately provide zero duty access to Indian exports in Britain, so any disadvantage from tariff differential that the Indian exports may face in the US would get covered in the UK. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Undo "We have also requested the Uk to fast-track so that it comes into force as early as possible," Barthwal told reporters here. On July 24, India and the UK signed a landmark free trade agreement, which, starting next year, will see 99 per cent of Indian exports enter the UK duty-free, while reducing tariffs on British products such as cars and whisky in the Indian market. Live Events While India has opened its market to various consumer goods, including chocolates, biscuits, and cosmetics, it will gain greater access to export products such as textiles, footwear, gems and jewellery, sports goods, and toys. Also, Indian companies, such as TCS and Infosys , operating in the UK won't have to make social security contributions for up to three years for employees who move from India.