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Time of India
25-05-2025
- Business
- Time of India
Norway and Goa discuss options for bilateral trade
Panaji: Green energy, shipbuilding, waste management, tourism, and agri-exports are some of the sectors where Norway and Goa could collaborate, said officials from the Goa Chamber of Commerce and Industry (GCCI). They said that Norwegian consul general Monica Nagelgaard held a meeting to discuss potential areas for bilateral trade. Nagelgaard said that polar research, marine biology, and fisheries research are areas that Norway and India are already cooperating on. India is among the top countries prioritised by Norway for bilateral projects and research, Nagelgaard added. Deputy consul general of Norway Fredrik Bjerke Abdelmaguid said that aquaculture technology is one of the newest technologies that Norway could offer to Goan entrepreneurs, in addition to technologies on wind energy. Given that Norway invested and conducted extensive research into sustainability practices, Goa could certainly benefit from technology inputs from Norway. GCCI vice-president Pratima Dhond said that Goa is a major tourist destination, and the possibility of reaching out to the Scandinavian Tourism Board to attract more Norwegian tourists to Goa was discussed. A Norwegian delegation is expected to travel to Mumbai in October for a conference. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Artificial Intelligence and Machine Learning For Working Professionals. BITS Pilani WILP Apply Now Undo Norway is keen to bring this delegation to Goa to discuss waste management collaborations. Given that India's energy and power requirements are fast increasing, GCCI said that the state is looking at wind and solar energy to generate power. GCCI officials have enquired about the potential for cooperation with Norway on hydropower, which is one of Norway's strengths. The scope for exports of vegetables and food items to Norway, which is a net importer of food, was also discussed. Nagelgaard also visited the office of Goa-based IT and software company, Kilowott, to discuss efforts towards the India-Norway trade corridor, especially in technology and sustainability-linked ventures, underscoring growing trade interest from Norwegian companies in India under the recently signed India-EFTA Free Trade Agreement.
Time of India
19-05-2025
- Business
- Time of India
GCCI requests extension of tax filing deadline due to portal delay
Panaji: Given the delay in notifying the income tax return (ITR) forms and the tools required to file tax returns, the Goa Chamber of Commerce and Industry ( GCCI ) has written to finance minister Nirmala Sitharaman to consider extending the deadline for individuals to file their taxes. The current deadline for salaried and non-audit taxpayers to file tax returns is July 31. 'Tax utilities should ideally be made available at the beginning of the financial year. Given the delay, we request their immediate release. Additionally, extensions, if necessary, should be announced well in advance to enable taxpayers to plan their filings efficiently,' said GCCI director general Sanjay Amonkar. The income tax department usually notifies the forms either before the end of the financial year or in April, which is the start of the assessment year. GCCI pointed out that the ITR forms for the assessment year 2025-26 were notified only recently, and the tools to aid taxpayers in filing their taxes are yet to be operationalised, thus hindering taxpayers from preparing and filing their returns on time. 'The late release of the income tax utilities could make it difficult for taxpayers to complete the submissions in time and could result in rushed filing and errors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Are The Most Beautiful Women In The World Undo Taxpayers should not be subjected to penal costs for delayed return filing caused by the late release of the necessary utilities,' said Amonkar. He noted that the current year's filing requires detailed disclosures, particularly concerning changes in capital gains provisions. The late release of utilities could lead to rushed filings and errors. 'The late release of the current year's utilities could see much heavier traffic in the upcoming days. We trust that, once released, the utilities will remain stable and glitch-free,' Amonkar said. He has also shared the industry body's concerns with the chairperson of the Central Board of Direct Taxes, Ravi Agrawal.
Time of India
18-05-2025
- Business
- Time of India
GCCI urges MPA to restart container service at earliest
Panaji: The Goa Chamber of Commerce and Industry (GCCI) has urged the Mormugao Port Authority (MPA) to restart container operations at Mormugao as local industries will benefit immensely from the service. Local manufacturers find it cost-efficient to export cargo via sea, said Chandrakant Gawas, the chairman of GCCI Logistics. Mormugao Port chairman N Vinodkumar informed GCCI that the container service would be initiated by Delta Ports Mormugao Terminal Private Limited . 'Recognising the cost and time efficiency of using Mormugao Port for container cargo, the chamber emphasised the need for advance notice regarding the resumption of container operations to help businesses plan effectively,' said Gawas. A delegation led by Gawas met Vinodkumar last week for an update on the commissioning and operational readiness of Berths 9, 10, and 11 at Mormugao Port. He also underlined the importance of a smooth transition for exporters, labourers, shipping agents, and urges MPA to restart container service at earliest
Time of India
15-05-2025
- Business
- Time of India
GCCI leadership likely to serve another term
Ahmedabad: The executive committee of the Gujarat Chamber of Commerce and Industry (GCCI) on Thursday approved the proposal for the continuation of the current president, senior vice-president and vice-president for another year. Earlier, the constitution committee of the apex trade and industry body of the state approved the proposal. Now, an extraordinary general meeting (EGM) will be held on May 26, and if the proposal is approved, it will be sent to the empowered apex committee of the GCCI. According to sources, a large section in the GCCI believes that continuing for another year with the top office-bearers is necessary because they have taken initiatives for infrastructure development at GCCI and for the growth of MSMEs in the state through exhibitions like GATE-2025. "Currently, businesses are putting up with geopolitical tensions and a tariff war, and in this situation, continuation of discussions with the state and central govt is required. So, there was a proposal to re-appoint president Sandeep Engineer , senior vice-president Rajesh Gandhi and vice-president Apurva Shah for one more year. The most recent executive committee meeting approved the proposal and sent it to the constitution committee," said a senior member of the GCCI. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Khám phá bộ sưu tập sofa giảm giá đẹp cho phòng khách hiện đại southermore Tìm Ngay Undo "The current office-bearers will file nomination forms in the election, and if no other nominations are received for the senior VP and VP posts, they will continue in the new term," said sources. "The GCCI president traditionally serves for a one-year term, but many members believe the current team should continue to lead for one more year to streamline and complete the ongoing work," said a senior GCCI member.
Time of India
11-05-2025
- Business
- Time of India
Border conflict grounds summer holiday plans
Ahmedabad: Operation Sindoor may have struck terrorist targets across the border, but it has also shaken up vacation plans back home. The aftermath of the Indian military's action in Pakistan and Pakistan-occupied Kashmir (PoK) has triggered flight shutdowns, trip cancellations, and a wave of uncertainty in the tourism sector. Tour operators, who were banking on the peak travel season, say this is the worst May they have seen in especially to popular northern destinations, is taking a direct hit. Airports in Jodhpur, Amritsar, Leh, Chandigarh, Jammu, and Kashmir — all in proximity to the international border — have been shut for civilian aircraft operations until May 10, leading to massive disruptions in travel schedules. Cancellations are pouring in. Travel agencies are scrambling for updates, as there remains no clear word on when normal operations will Sharma, vacationing in Uttarakhand, said, "We had a packed itinerary from Nainital Jim Corbett and Mussoorie to Rishikesh, but we have cancelled everything except Nainital. We are playing it safe and heading back as planned from Dehradun."Travel consultants confirm that panic and unpredictability have taken over what would normally be a season of packed itineraries and hill station getaways. "People who were already vacationing in Himachal Pradesh have cut short their trips. The North is totally out of the question now. Nearly 95% of the bookings for northern destinations, primarily Uttarakhand, Himachal, and Jammu & Kashmir, for the month of May have been called off," said Virendra Shah, a travel a business standpoint, the ripple effect is undeniable. Tour operators, who were optimistic about some revival in business, are suddenly staring at dry leads and refund requests. The sentiment is clear: nobody wants to travel under fear."A majority of travel industry players have suffered about 70% revenue loss for existing bookings during the peak leisure holiday season. The impact has not spared international travel either. While a select few tourists have gone to the UK or Spain for a long-haul visit, travellers bound for Turkey, Dubai, Bali, Indonesia and the Maldives are backing out at the last minute as well. There's an air of hesitation that was not there a week ago," said Ankit Bajaj, another travel expert, highlighting the uncertainty clouding future bookings."This conflict has not just disrupted logistics, it has shaken the mood of the traveller. Thus, even if the journey is a month from now, people are unwilling to travel and are blatantly cancelling travel plans," Bajaj Chhajer, chairman of GCCI's tourism committee, said, "Domestic air travel is badly hit due to airport shutdowns.. However, international travel is relatively steady, except for a few cancellations by govt employees whose leaves have been cancelled. Except for Turkey and Azerbaijan, other destinations are less affected." Get the latest lifestyle updates on Times of India, along with Mother's Day wishes , messages , and quotes !
