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India Gazette
5 days ago
- India Gazette
DRI foils major smuggling bid, seizes Rs 35 crore worth of Chinese firecrackers in
New Delhi [India], July 11 (ANI): In a major crackdown on smuggling of Chinese firecrackers and fireworks into India, the Directorate of Revenue Intelligence (DRI), in an operation codenamed 'Operation Fire Trail', successfully traced, intercepted, and seized huge quantities of Chinese firecrackers/fireworks, valued at approximately Rs 35 crore. According to a official statement from Ministry of Finance, the items were found concealed in seven containers destined for or lying at Nhava Sheva Port, Mundra Port, and Kandla SEZ, These Chinese fireworks, weighing 100 metric tonnes, were illicitly imported in the name of a KASEZ unit and certain IEC holders, by misdeclaring them as goods such as 'Mini Decorative Plants,' 'Artificial Flowers', and 'Plastic Mats'. Notably, some of these consignments were routed through Kandla SEZ by a KASEZ unit with the intent of diversion into the Domestic Tariff Area (DTA). The key individual, a partner of the SEZ unit, found to be actively involved in the smuggling of Chinese firecrackers/fireworks through misdeclaration and misuse of SEZ provisions, has been arrested. He has been remanded to judicial custody by the Court, the release stated. The import of firecrackers is 'Restricted' under ITC (HS) Classification of the Foreign Trade Policy. It requires licences from DGFT and the Petroleum and Explosives Safety Organisation (PESO) under the Explosive Rules 2008. Firecrackers and fireworks are harmful because they contain banned chemicals like red lead, copper oxide, and lithium, as per the release. Firecrackers pose a significant risk to public safety, port infrastructure, and the wider logistics supply chain due to their highly combustible nature, the release stated. This meticulously planned and seamlessly executed operation underscores DRI's unwavering resolve to combat smuggling, safeguard the nation's critical infrastructure, and protect public safety. By preventing these illegal, hazardous shipments from entering Indian markets, DRI has averted potential hazards ranging from accidental explosions to supply chain disruptions. The DRI remains committed to its mission of detecting, deterring, and dismantling illicit networks that undermine the Exim trade ecosystem and endanger public safety. (ANI)
India Gazette
04-07-2025
- Business
- India Gazette
BEML unveils phase-I aerospace SEZ facility in Bengaluru
Bengaluru (Karnataka) [India], July 4 (ANI): Reaffirming its commitment to positioning Bengaluru as a global aerospace hub, BEML Limited inaugurated its newly built state-of-the-art warehousing facility, spread over 0.12 acres, at the Karnataka Industrial Areas Development Board (KIADB) Aerospace Special Economic Zone (SEZ), Bengaluru. The facility was inaugurated by Shri Shantanu Roy, Chairman and Managing Director, BEML, in the presence of Functional Directors, senior officials from BEML, and dignitaries from KIADB, an official release added. In a strategic move to bolster its Aerospace ambitions, the foundation stone for Phase II of the project, which will see the development of a 1.15 acres of land facility in the same SEZ, was also laid. BEML currently holds a total of 25 acres of land in the Aerospace SEZ, which it plans to develop into a vibrant industrial hub catering to the fast-growing defence and aviation sectors. This initiative marks a significant milestone in BEML's long-term vision of supporting India's aerospace growth and creating a robust supply chain ecosystem for global and domestic Original Equipment Manufacturers (OEMs). Speaking at the occasion, Shantanu Roy, CMD, BEML said, 'The inauguration of this warehousing facility marks a significant step in BEML's journey to becoming a key enabler in India's aerospace and defence ecosystem. This is more than just infrastructure--it's a strategic foundation for future capabilities in advanced manufacturing, MRO services, and global exports aligned with international OEM standards.' The Aerospace SEZ facility, located near Kempegowda International Airport, is part of a larger plan that includes setting up a dedicated manufacturing unit over 20 acres to produce next-generation aerostructures, drones, aggregates, and components for the Air Defence and allied sectors. This unit will be developed through collaborations with global aerospace OEMs, establishing BEML as a key player in the international aerospace manufacturing landscape. To support its warehousing operations, BEML has entered into a strategic service agreement with M/s LOM SUPPLY CHAIN INDIA, a reputed logistics service provider with extensive experience in SEZ and Domestic Tariff Area operations. The facility is designed not only to support BEML's internal logistics, but also to offer warehousing and allied services to other OEMs, Tier-1, and Tier-2 players. With Bangalore's rapidly expanding warehousing and logistics sector, BEML's SEZ facility is ideally located to capitalize on connectivity via NH7, the Outer Ring Road, and proximity to the airport, making it an attractive hub for both domestic and global trade. This initiative is expected to generate over 500 employment opportunities in the region, further supporting local economic development. BEML envisions to create a Centre of Excellence for Aerospace Technologies within this SEZ, empowering India's self-reliance journey in defence and aerospace while creating a vibrant ecosystem for innovation, collaboration, and growth. BEML Limited, a leading multi-technology 'Schedule A' company under the Ministry of Defence. BEML operates in three verticals: Defence & Aerospace, Mining & Construction, and Rail & Metro. It has state-of-the-art manufacturing facilities located in Bengaluru, Kolar Gold Fields (KGF), Mysore, and Palakkad, with a strong R&D infrastructure and a nationwide sales and service network. (ANI)
Business Upturn
18-06-2025
- Business
- Business Upturn
Rajesh Power Services bags R 59.79 crore contract from GIFT Power Company
Rajesh Power Services has bagged a significant order worth ₹59.79 crore from GIFT Power Company Limited for the design and execution of a comprehensive distribution and backup power system in Gujarat's GIFT City. This project spans both the SEZ (Special Economic Zone) and DTA (Domestic Tariff Area) zones of India's first operational smart city, located in Gandhinagar. The contract includes three main components: Part A and Part B focus on establishing reliable grid and backup power supply systems in the SEZ and DTA zones, while Part C covers the expansion of substation feeder lines within the DTA area. The scope of work is extensive and aligns with GIFT City's mission to enhance critical infrastructure and ensure uninterrupted power supply to its commercial and residential developments. Advertisement This is a purely domestic contract and does not involve any related party transactions, nor does it include any interest from the promoter group. The execution timeline for this order is set at 18 months.
Time of India
27-05-2025
- Business
- Time of India
GTRI backs RoDTEP reinstatement, urges five-year stability to boost exports
Representative image The Global Trade Research Initiative (GTRI) has welcomed the reinstatement of the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme but stressed on the need for a stable, five-year implementation period to bolster India's export competitiveness. 'To position India as a stable and competitive export hub, the government must ensure uninterrupted RoDTEP coverage for at least five years. Frequent policy shifts hurt credibility, weaken trust, and ultimately damage India's export competitiveness,' GTRI said. Although the RoDTEP scheme complies with World Trade Organisation (WTO) norms, GTRI expressed concern over the government's inconsistent handling of the policy. The scheme reimburses exporters for embedded duties, taxes, and levies not covered under other incentive programs. RoDTEP benefits for certain categories were discontinued on February 5, 2025. However, the recent decision to reinstate them aims to ensure a level playing field for exporters across sectors. The Ministry of Commerce and Industry noted that this move reflects the government's ongoing efforts to enhance India's position in global markets. Since its inception, the RoDTEP scheme has seen disbursements exceeding Rs. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 입꼬리 올리는 여름, 인천에서 33만원 임플란트 만나보세요 플란치과 더 알아보기 Undo 57,976.78 crore as of March 31. For the fiscal year 2025–26, the government has allocated Rs. 18,233 crore to support 10,780 HS lines under Domestic Tariff Area exports and 10,795 HS lines under Advance Authorisation (AA), Export Oriented Units (EOUs), and Special Economic Zones (SEZs), ensuring broad sectoral coverage. Additionally, the government has launched the Trade Connect e-Platform, aimed at streamlining international trade by connecting Indian Missions abroad with Department of Commerce officials and relevant organisations to offer comprehensive export-related services. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
08-05-2025
- Business
- Time of India
Japan's Mitsui O.S.K. Lines expands Indian flag fleet with a Very Large Gas Carrier
MUMBAI: Japan's Mitsui O.S.K. Lines , Ltd (MOL), the world's second largest ship owner by fleet size, has added a Very Large Gas Carrier (VLGC) to the fleet run by its Indian unit, reinforcing a rising trend among foreign fleet owners to register some of their ships in the world's fastest growing major economy. The 2010-built liquefied petroleum gas tanker named 'Green Sachi' and earlier flagged in Liberia was converted to the Indian flag recently and inducted into the fleet of MOL (India) Pvt Ltd, the ship owner said. MOL (India) runs 11 Indian flagged gas, product and crude tankers, making it the fourth largest Indian ship owner by fleet size. MOL (India), formed in the Domestic Tariff Area (DTA), is also engaged in car carrier transportation and ship management, further expanding its footprint in India. Separately, MOL has opened a unit – MOL Shipping IFSC Pvt Ltd - in the Gujarat International Finance Tec-City ( GIFT City ), India's first and currently the only International Financial Services Centre (IFSC) operating under the Special Economic Zone Act, for leasing and operating ships. On April 28, Marseille, France-based CMA CGM S A, the world's third largest container shipping line, converted one of its foreign flag container ships to the Indian flag, making it the first big global container carrier to register a container ship in India. The carrier is in the process of converting three more of its foreign flag container ships to the Indian flag. The four container ships will be owned by CMA CGM's Indian unit - CMA CGM Shipping Assets India IFSC Pvt Ltd – set up in the GIFT City. On March 31, Oslo and New York-listed BW LPG Ltd, the world's top owner and operator of LPG vessels, including VLGC, said it will sell two modern VLGCs to its Indian unit – BW LPG India – in a deal worth $150 million. The ship purchase will help BW LPG India - the largest owner and operator of Indian-flagged VLGCs – expand its fleet to nine LPG carriers. Both MOL and BW LPG India have benefitted from a so-called right of first refusal (RoFR) available to Indian flag ships for moving state-owned cargo along with the subsidy given by the government to Indian shipping companies in global tenders floated by ministries, departments and Central Public Sector Enterprises (CPSEs) for importing some specified cargo. Under the Cabinet approved subsidy scheme, Indian fleet owners get a 5-15 per cent extra on charter rates, depending on age slabs, on ships registered in India after February 1, 2021. The government has budgeted a corpus of Rs 1,624 crore to be disbursed as subsidy for moving crude oil, LPG, coal, and fertiliser cargo for state-run firms, over five years till 2026, to boost Indian tonnage .
