DECEMBER 20249INDIA'S EXPORT GROWTH ACCELERATED BY NEW SHIPPING SERVICES & ROUTESINDIA TARGETS 1080 MILLION TONNES OF COAL PRODUCTION BY 2024-25India is set to achieve higher export figures as shipping lines expand capacity. Maersk-Hapag-Lloyd's Gemini Cooperation, MSCs, and CMA CGM have launched new services and upgraded their offerings. This expansion is expected to increase the efficiency of trade and decrease freight costs and time taken in the process. fiscal.From February next year Maersk and Hapag-Lloyd plan to start three dedicated and eight to nine strings under the Gemini network, and MSC is developing a Med Asia string that will connect Mediterranean ports to North India and Colombo. CMA CGM recently started an Asian service that includes a call to India and may inaugurate a second string that serves selected Middle East destinations next year.Ajay Sahai, Director General and CEO of the Federation of Indian Export Organisations (FIEO) said, "Geopolitical competition, emerging regional players, and new trade avenues, such as Arctic routes via Russia, are reshaping the landscape. This intensifies competition but also offers opportunities to lower freight costs." The trade relation between India and the European Union, which constitutes a quarter of Indian foreign trade, will undergo major enhancements. The two new services from Maersk and Hapag-Lloyd will reduce transit times by up to three days. The new additional strings will grow the annual capacity by 4 percent-5 percent and will join Indian ports, such as Mundra, Nhava Sheva, and Ennore to European ports, for example, Rotterdam, Hamburg, and London Gateway. The Red Sea crisis is affecting it in several ways including; The Red Sea crisis is adding shocks to Turn-around-times, and congestion at many ports. Since ZIM intends to offer direct calls at numerous ports across the country, the nation's exporters and importers are expected to gain, analysts said. projects, are anticipated to be key factors influencing the coal market in India.The nation will continue focusing on coal based power, union coal and mines minister G Kishan Reddy said Thursday. Speaking at an event to launch the 11th round of commercial coal mine auctions, Reddy said, "Power is not possible without coal, and life is not possible without power."Reddy states that some nations are experiencing power shortages that hinder their development, but India is not included among them.Reddy said efforts must be taken to lower coal imports for both power and steel projects. "Imported coal based steel and power projects must look for opportunities to switch to using domestic coal," he said.An official announcement indicated that 27 coal mines are available in this round. Out of these, 20 coal mines will be available for bidding, including 10 Fully Explored and 10 Partially Explored blocks. An additional seven coal mines are being offered from the second attempt of round 10.The statement added that these mines are expected to produce yearly revenue of around Rs 1,446 crores when operating at peak-rated capacity. India's coal output is expected to hit 1080 million tonnes in the 2024-25 period. The rising plans for power generation capacity and the growing demand for electricity, along with the swift expansion of industrial and infrastructural
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