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NDTV
a day ago
- Business
- NDTV
Investment, Port Digitisation Discussed In India-Japan Meet On Maritime Ties
Investment, port digitisation and employment of Indian seafarers by Japan were among the topics discussed by Union Minister of Ports, Shipping & Waterways Sarbananda Sonowal in a bilateral meeting with Terada Yoshimichi, Japan's Vice Minister for International Affairs, and the Ministry of Land, Infrastructure, Transport & Tourism (MLITT). Monday's meeting between the two countries also included discussions on green port initiatives, increase in research and development cooperation, upskilling human resources, and using sustainable technologies, disaster-resilient infrastructure, and enhanced connectivity to enable Andaman and Nicobar and Lakswadeep islands to be converted into Smart Islands. Acknowledging the rich expertise of Japan in developing island territories, Mr Sonowal said, "Japan's expertise in this area is highly valued. We see scope for joint work in the Andaman & Nicobar and Lakshadweep islands, particularly in deploying renewable energy, smart mobility systems, and digital infrastructure. These initiatives will further our shared commitment to ecological conservation and regional maritime security." The meeting also discussed about increasing partnership between Indian and Japanese shipyards, including greenfield investment, such as Imabari Shipbuilding in Andhra Pradesh. Opportunities for co-development of ports and maritime industrial clusters were also gauged for mutual cooperation. Mr Sonowal expressed India's interest in leading Japanese shipbuilding companies such as Imabari Shipbuilding, JMUC, Kanagawa Dockyard, and Mitsubishi Heavy Industries to explore joint ventures and collaborative arrangements with Indian yards. "Japan's expertise in shipbuilding and ship repair is well recognised, and I see great scope for collaboration in this area. We also invite Japan's Big Three maritime companies-NYK Line, MOL, and K Line-to explore joint ventures and investment opportunities in India's growing maritime sector. With our strong bilateral relationship, India's growing maritime industry present a unique opportunity for Japanese shipyards to invest in India in shipbuilding. Collaboration on port digitisation and green port initiatives will further strengthen the resilience and sustainability of our maritime logistics network," said Mr Sonowal. Speaking on the occasion, Mr Sonowal said, "Relations between India and Japan have a long history rooted in spiritual affinity and strong cultural and civilisational ties. Our collaboration under the Quad framework and the India-Japan-Australia Supply Chain Resilience Initiative (SCRI) reflects our shared commitment to strengthening regional maritime security and economic integration. India appreciates Japan's leadership in key initiatives such as the International Solar Alliance (ISA), Coalition for Disaster Resilient Infrastructure (CDRI), and the Leadership Group for Industry Transition (LeadIT). As India moves ahead to transform its maritime sector under the visionary leadership of Prime Minister Narendra Modi, India is advancing port infrastructure, green shipping, shipbuilding and digitalisation under 'Maritime India Vision 2030' and 'Maritime Amrit Kaal Vision 2047'. India seeks Japan's participation in these transformative initiatives." Mr Yoshimichi expressed that India and Japan have very intimate relationship. Japan has been engaged in railway infrastructure development with India but now it is "very interested in maritime sector", he said. Prospects of mutual collaboration in shipbuilding and training of seafarers were discussed and considered positively. Emphasising the need to deepen bilateral ties in maritime training and development, as well as cooperation in research and development, both sides agreed to further strengthen collaboration in the maritime sector, especially on sustainable maritime technologies and next-generation ship design. Mr Sonowal evinced India's interest for a Memorandum of Understanding for a framework to avail promising avenues for collaboration with Cochin Shipyard Limited (CSL), Indian universities and public agencies.
Gulf Today
a day ago
- Business
- Gulf Today
PCFC and Ghana to establish economic zone, digital incubator
The Ports, Customs and Free Zone Corporation (PCFC) and Government of Ghana have signed a landmark Memorandum of Understanding (MoU) to establish Ghana's first economic zone and digital incubator in Accra. The initiative aims to accelerate the country's transformation into a regional technology powerhouse, attracting investment into West Africa. The MoU was signed by Sultan Ahmed Bin Sulayem, Chairman of PCFC, and Samuel Nartey George, Ghana's Minister for Communication, Digital Technology and Innovation. Under the agreement, a 25 square kilometre area in Accra will be allocated to PCFC for the development of the economic zone. PCFC will lead the zone's operations and attract global technology firms, facilitating investment and business expansion. The MoU also includes joint efforts to establish digital infrastructure and property development within the zone. Sultan Ahmed Bin Sulayem affirmed that PCFC's commitment to supporting the UAE's global outreach and sharing Dubai's pioneering experience in innovation and economic development. 'This initiative underscores our strategic relationships worldwide and reinforces PCFC's role as a key contributor to Dubai's knowledge and innovation-based economy. We are focused on launching cutting-edge projects that promote sustainable growth, invest in human capital and advanced technology, to cement Dubai's status as a global hub for smart technologies and digital transformation.'' He also expressed his appreciation for the Government of Ghana's trust in PCFC's expertise and its warm reception of the initiative. 'This smart economic zone, combining innovation, technology, and logistics, will foster commercial growth and strengthen Ghana's industrial and technological infrastructure.'' Samuel Nartey George stated that the partnership will significantly bolster Ghana's economic position, transforming it into a regional technology hub in Africa. 'This initiative aligns with Ghana's vision for digital transformation and sustainable economic growth. The zone will play a pivotal role in attracting global businesses and talent, positioning Accra as a destination of choice on the international stage.' In February, The Ports, Customs and Free Zone Corporation, and Cordiant Capital, a global investor in infrastructure and real assets, signed a Memorandum of Understanding (MoU) to advance their strategic collaboration to strengthen Dubai's agriculture value chain and bolster its food security initiatives. Under the terms of the MoU, both parties will work together to explore opportunities to optimise end-to-end agricultural value chains from origin-producing countries to Dubai through infrastructure investments, strategic trade corridors, and supply chain solutions. The MoU was signed by Sultan Ahmed Bin Sulayem, Chairman of the Ports, Customs and Free Zone Corporation and Cédric Garnier-Landurie, Partner and Head of Agriculture Value Chain at Cordiant Capital, in a ceremony held at the World Governments Summit 2025 in Dubai. This partnership reinforces PCFC's commitment to developing innovative logistics and supply chain solutions aligned with Dubai's long-term vision for sustainable food security. The collaboration between PCFC and Cordiant Capital paves the way for the two parties to cooperate in: Building Next-Generation Cold Chain Networks: Implementing advanced cold-chain logistics systems that will maintain optimal freshness from farm to table, dramatically reducing food waste while ensuring consistent quality of perishable goods. Enhancing Dubai's Position as a Fresh Food Hub: Supporting Dubai's goal of becoming a global hub for fresh food distribution by leveraging PCFC's logistical capabilities and Cordiant's investment expertise in agriculture supply chains. Strategic Trade Corridors: Strengthening efficient, digitally enabled trade routes that optimize the movement of agricultural products while reducing transportation costs and environmental impact. Advancing National Food Security: Supporting Dubai's vision of becoming a leader in food security by investing in sustainable agricultural practices and cutting-edge supply chain solutions. Technology and Innovation: Deploying advanced technologies including IoT sensors, AI-powered analytics, and blockchain-enabled tracking systems to create unprecedented visibility and efficiency across the entire supply chain. These initiatives will support Dubai's ambitious food security strategy, which aims to enhance the emirate's agricultural self-sufficiency and diversify its food sources. The partnership leverages PCFC's unparalleled logistics expertise and Cordiant Capital's agricultural and infrastructure investment expertise to support fresh food supply chains in key markets. WAM
Hi Dubai
a day ago
- Business
- Hi Dubai
PCFC Signs MoU with Ghana to Develop First Economic Zone and Digital Incubator in Accra
The Ports, Customs and Free Zone Corporation (PCFC) of Dubai has signed a landmark agreement with the Government of Ghana to establish the country's first economic zone and digital incubator in Accra, marking a major step in positioning Ghana as a regional tech hub. The Memorandum of Understanding was signed by H.E. Sultan Ahmed bin Sulayem, Chairman of PCFC, and Hon. Samuel Nartey George, Ghana's Minister for Communication, Digital Technology and Innovation. The deal grants PCFC a 25 square kilometer area in Accra to develop and operate the zone. The initiative aims to accelerate digital transformation in West Africa by attracting global technology companies, enhancing digital infrastructure, and supporting investment and innovation across the region. 'This project reflects Dubai's commitment to global collaboration and sharing its model of innovation-led development,' said bin Sulayem. He emphasized PCFC's role in promoting sustainable growth, technology advancement, and knowledge-based economies worldwide. Ghana's Minister Samuel Nartey George noted that the economic zone aligns with the country's broader digital agenda. 'It will play a pivotal role in attracting international businesses and talent, placing Accra on the map as a prime destination for tech investment.' Joint teams from both countries, including experts in AI and investment, will oversee the project. The zone is expected to empower local businesses, drive job creation, and boost regional economic connectivity. The agreement marks a strategic milestone in UAE-Ghana relations and underscores a shared commitment to digital innovation and inclusive growth across Africa. News Source: Dubai Media Office
India Today
2 days ago
- Business
- India Today
Sensex closes 77 points lower, Nifty below 24,700; Adani Ports gains 2%
Benchmark stock market indices rebounded after falling sharply in early trade to close marginally lower on S&P BSE Sensex was down by 77.26 points to close at 81,373.75, while the NSE Nifty50 lost 34.10 points to end at 24, Nair, Head of Research, Geojit Investments Limited, said that the domestic market continued its consolidation phase for the third consecutive week, influenced by renewed concerns over a potential tariff war and escalating geopolitical tensions between Russia and "While global uncertainties have led investors to adopt a risk-averse approach, the Indian market has demonstrated resilience, underpinned by robust institutional inflows and selective sectoral strength like FMCG, real estate, and financial stocks," he Ports and Special Economic Zone led the pack with a gain of 2.51%, followed by Mahindra & Mahindra which climbed 1.58%. PowerGrid Corporation of India also showed positive momentum, gaining 1.07%, while Eternal posted gains of 1.07%. Hindustan Unilever rounded out the top five gainers with an increase of 0.96%.Tech Mahindra was the worst performer, declining 1.47%, while Tata Steel also struggled with a drop of 1.21%. Tata Motors faced headwinds, falling 1.12%, and Titan Company Limited retreated 0.80%. HDFC Bank completed the list of top five losers, shedding 0.60% by the closing domestic macro indicators include a potential RBI rate cut, a better monsoon, Q4 GDP data and better GST collection. Under the current market landscape, investors are adopting a cautious short-term strategy, with a focus on domestically oriented and interest-sensitive sectors," said Nair. Nifty Midcap100 saw modest gains of 0.62%, while Nifty Smallcap outperformed with a rise of 1.19%. The India VIX, which measures market volatility, surged by 6.71%. Among the sectoral gainers, Nifty PSU Bank led the charge with an impressive rally of 2.15%, followed by Nifty Realty which climbed 2.31%. Other sectors that ended in positive territory included Nifty FMCG up 0.81%, Nifty Metal gaining 0.70%, Nifty Private Bank rising 0.34%, Nifty Media advancing 0.32%, Nifty Healthcare posting gains of 0.12%, and Nifty Auto edging higher by 0.01%.However, several sectors faced selling pressure during the session. Nifty IT was the worst performer, declining 0.70%, while Nifty Consumer Durables fell 0.48%. Nifty Pharma retreated 0.22%, Nifty Oil & Gas dropped 0.21%, and Nifty Financial Services closed marginally lower by 0.11%.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
Hans India
3 days ago
- Business
- Hans India
Sarbananda Sonowal to visit Norway, Denmark to boost maritime ties
New Delhi: In a bid to strengthen maritime ties, Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, is set to embark on a five-day official visit to Norway and Denmark, beginning June 2. The visit holds strategic importance as the minister will lead the Indian delegation comprising senior officials from the Central and state governments, along with leading players from the private sector. 'The maritime sector is a cornerstone of economic growth and national development. Under the dynamic leadership of Prime Minister Narendra Modi, India has not only become the world's fourth-largest economy but is also working towards securing its place as a major maritime nation,' said Sonowal. 'As we move forward toward realising the vision of Viksit Bharat by 2047, it is vital that we unlock the full potential of our Blue Economy, which offers immense opportunities in trade, connectivity, clean energy, and innovation,' he added. During the visit, Sonowal will address a high-level meeting on oceans at the 60th edition of the Nor-Shipping event in Oslo and inaugurate the first 'India Pavillion' there. He will also chair the India@Nor-Shipping Country Session and hold global outreach for the upcoming 'India Maritime Week 2025' scheduled from October 27-31 in Mumbai. On the sidelines of Nor-Shipping event, the minister is scheduled to hold bilateral meetings with his ministerial peers from Japan and Norway, and meet leading European shipping companies, component manufacturers and technology developers. Sonowal will also visit Oslo Port Authority. The India Pavilion also has a dedicated pavilion of 'National Maritime Heritage Complex' and engage global delegates on India's 5000-year-old civilisational maritime heritage and global linkages, according to the ministry. While in Denmark, among other engagements, he will interact with the students of 'Blue MBA' at the Copenhagen Business School on the economic opportunities that India's high-growth journey presents for future managers and leaders. 'My visit to Norway and Denmark — both recognised as global maritime leaders — is aimed at building strong, future-ready partnerships. These engagements will help us exchange best practices, explore joint ventures, and align efforts for a greener and more resilient maritime ecosystem,' said the minister.
