23
Tuesday
January 2018
11:16 PM IST
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Business News
Indian ports set to double their profit: Gadkari
 
Singapore, Jan 6 (PTI) Indian ports are expected to generate a profit of Rs 7,000 crore this year, Road Transport, Highways and Shipping Minister Nitin Gadkari said today.

Addressing some 3,000 delegates at the Asean-India Pravasi Bhartiya Divas here, he highlighted the profitability of investments in Indian projects, and underlined the potential of a wide range of projects.

"For this year, we are expecting a profit of 7000 crore from port operations (as) all ports are making profits," said Gadkari, pointing out that it would be more than double from Rs 3,000 crore three years ago.

Six new port projects were being planned, said Gadkari, who inaugurated the gathering where over nine sessions are being held on all aspects of business opportunities in India.

He invited Asean investors to participate in Indian infrastructure projects, as the pace of development is accelerated.

He pointed out the 28 km per day of road completion, up significantly about three years ago. The target is to complete 40 km per day, added Gadkari.

He also gave a progress update on projects, saying 60-70 per cent of work has already started on India's road connection to Myanmar, Bangladesh, Bhutan and Nepal.

The Mumbai special economic zone has attracted 40 companies, including one from Taiwan which has offered Rs 6,000 crore investment.

Gadkari has also appealed to the Indian diaspora community to donate as well as participate in the Clean Ganga Project.

He shared with delegates the strong support received from London-based diaspora, who have pledged 3,000 crore for 155 Ganga projects.


Rupee gains 5 paise against dollar at 63.82
Volkswagen to launch new models in India; invest over Rs 7,800 crore
US dollar ends dearer against rupee
Sensex hits new peak at 35,664.01, Nifty at 10,926.45
I-T notices to cryptocurrency investors on suspicion of tax evasion
Trai gives approval for mobile calls, net surfing while flying
HSBC InvestDirect Securities settles case with Sebi
SBI to raise Rs 20,000 cr for affordable housing, infra
Sensex hits 35,000 mark as IT stocks lead gains
Bitcoin, other cryptocurrencies tumble on government crackdown worries
Sensex, Nifty extend gains to hit fresh highs
Passport may no longer serve as address proof
Rupee extends losses against US dollar in late morning trade
Stocks scale fresh record high as Coal India spurts
Sensex at new high on fund inflows; Nifty above 10,600
CBDT relaxes norms for MAT on firms facing insolvency
Sensex, Nifty hit new record high on fund inflows
Gold strengthens on sustained demand, silver recovers
Govt extends compulsory jute packaging for foodgrains, sugar
Sensex succumbs to late sell-off; auto, IT slip
KERALA NEWS
HC allows video conference facility to get marriage registered
 (Kochi, Jan 23, 2018): The Kerala High Court has permitted an Indian couple living in the US  
Motor Strike: Vehicles to keep off roads tomorrow
School bus meets with accident in Kollam
Malayali MBBS student commits suicide
INTERNATIONAL NEWS
Climate Change, Terrorism Grave Concerns: PM Modi At WEF
 (Davos, Jan 23, 2018): Narendra Modi became the first Indian prime minister to address the Wo
Iranian woman skydiver looks to break down stereotypes
Pence says he's proud to be in 'Israel's capital, Jerusalem'
Ecuador president calls Julian Assange a 'problem'
NATIONAL NEWS
CBI probes Rs 487 crore coal import scam
 (New Delhi, Jan 23, 2018): The CBI has begun a probe into a Rs 487 crore scam related to over
No BJP nexus, Shiv Sena to go solo in Lok Sabha election, state polls in 2019
SC removes all hurdles for the release of 'Padmavat'
Triple talaq bill a tactic to punish Muslim men: Muslim leader
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