Senior officials from five key ministries, including External Affairs, Defence, Shipping, Finance, and Commerce, are set to participate in the discussions aimed at minimising the trade disruptions caused by the crisis.
As per the Ministry of Ports, Shipping and Waterways, "The meet, with an objective to enable inland waterways as conduits of economic growth and commerce in the country, committed an investment of Rs 45,000 crore for the development of river cruise tourism in the country."
The Inland Waterways Authority of India, under the Ministry of Ports, Shipping, and Waterways (MoPSW), is set to host the inaugural 'Inland Waterways Development Council' meeting in Kolkata on Monday.
According to S&P Global Commodity Insights (GCI), this, in turn, could mitigate the impact on end-consumers as e-fuel supply scales up. E-fuels, derived from electrolytic hydrogen, represent a promising alternative for hard-to-abate sectors like aviation and shipping.
According to S&P Global Commodity Insights (GCI), the decision by A.P. Moller-Maersk, one of the world's largest shipping lines, to divert its ships from the Red Sea and the Gulf of Aden to the Cape of Good Hope for "the foreseeable future" heightened apprehensions about the impact on se
Sources in the government said that they were closely watching the unfolding situation in the Red Sea amid growing global concerns over attacks on several commercial ships in the region by suspected Houthi rebels.
The Iranian-backed Houthis launched an unmanned surface drone in the Red Sea, targeting commercial shipping lanes. This marks the first instance of the Houthis using such a weapon since the onset of their attacks on merchant vessels in the wake of the Gaza war, as reported by CNN.
Amid concerns around the suspected drone strikes on merchant vessels, the Ministry of External Affairs (MEA) on Thursday said New Delhi was closely monitoring the 'unfolding situation' in the Red Sea, with Indian Navy ships actively patrolling the region.
Analysis from S&P Global Commodity Insights indicates that while Indian refineries have moderated their appetite for Russian crude in recent months compared to the first half of 2023, Russia maintains its position as the top supplier, contributing over 35 per cent of India's total crude