India: Government OKs 100 Pct FDI Regime

100% Foreign Direct Investment (FDI) under the automatic route is being allowed for port development projects.

The Minister of Shipping Shri G.K.Vasan in a written reply in the Lok Sabha today said that the Maritime Agenda 2010-2020 has set a target of over 3130 million tonnes for port capacity by 2020.

The existing capacity of all major ports up to December, 2013 was 780.29 million tonnes. Income tax incentives are also allowed as per Income Tax Act, 1961 for development of port projects. Security clearance procedures have been streamlined.

Developers from foreign countries are allowed only after they are given security clearance based on inputs from Ministry of Home Affairs (MHA), Ministry of External Affairs (MEA) and Ministry of Defence (MoD), the minister added.

Press Release, February 10, 2014

Share this article

Follow Dredging Today

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CEDA Dredging Days 2019

The conference is well-attended by professionals representing the entire cross-section of the dredging field…

read more >

2019 Western Dredging Association Gulf Coast Chapter Annual Meeting

The meeting will provide a forum for the exchange of information of interest to the dredging industry and its associates.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below....

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Dredging jobs in Abu Dhabi at NMDC

National Marine Dredging Company “NMDC” aims to be the largest dredging player in the Arab’s Gulf region...

apply