News Update

PM, V-P to hold straight talk with All States’ Governors on worsening COVID-19 situationJustice Chandrachud inaugurates portals for judgements, e-filing 3.0Indian industrial output contracts 3.6% in FebUnidentified gunman shoots dead oner person & seriously injures another in Paris hospitalMarch retail inflation rises to 5.52%GST - 'Air Springs' act as shock absorber designed specifically for Motor Vehicles - rightly classifiable under CTH 8708 attracting @28% and not under CTH 4016 @18%: AARGST - 'Polypropylene Non-woven Bags' is classifiable under HSN 3923 at 18% and not at 5% under 6305: AARIndian regulator grants nod to Russian Sputnik V vaccineGST - 'Wheat' imported is destined to importer's factory for further processing and it is not to the primary market - Therefore, services of loading, unloading, packing, storage or warehousing is not entitled to exemption under 12/2017-CTR: AARMassive blaze at Russia’s historic St Petersburg factory; dozens evacuatedST - SVLDRS - Disagreement over estimated amount - No specific record made available by Revenue that communication of hearing was sent on 'email id' or via 'SMS' - SVLDRS-3 set aside: HCCus - Issue is purely contractual between petitioner, on the one hand and private respondents on the other - In such a case, it would not be open to the Writ Court to issue any Mandamus: HCPresident Kovind discharged from AIIMS after bypass surgeryGST - All stakeholders are treading in the new GST regime with uncertainties as the path is comparatively unfamiliar, unmarked and unpaved - Order of detention is an example of such uncertainty: HCSoaring COVID-19 cases - Drug Inspectors to monitor stocks of RemdesivirVAT - Bill of Entry cannot be regarded as title to goods as per provisions of Customs Act: HCI-T - Provisions of sec. 2(22)(e) are not applicable when assessee is not a shareholder: ITATRising COVID-19 cases - India embargoes export of Remdesivir and its API
'Upgrade, create, dedicate' mantra for infrastructure sector: Goyal at Maritime India Summit

By TIOL News Service

NEW DELHI, MAR 03, 2021: COMMERCE and Industry Minister Mr Piyush Goyal on Wednesday said the government is dedicated to boost integration of road, rail and waterways infrastructure to bring down the logistics cost and increase supply chain efficiency.

Addressing the Maritime Indian Summit 2021, the minister said, "Our government's three mantras for the infrastructure sector are 'upgrade, create and dedicate."

Adding that India cannot remain globally competitive and achieve 'one nation, one market' if costs remain high, he said investments in Sagarmala projects, will boost the country's maritime infrastructure, expand freight corridors, modernise ports, and reduce the turnaround time of ships. Logistics, which makes an estimated 13-14 per cent of the current freight costs, will also be able to reach the acceptable international benchmark of 8 per cent.

Mr Goyal appealed to stakeholders to transform from being 'service provider' to 'knowledge provider' by re-inventing the sector with technology-driven solutions like robotics, automation, artificial intelligence and big data analytics. "Our sector will be SAFE: sustainable, agile, futuristic, and efficient," he said.

The minister said the government will facilitate ease of doing business for the industries along the coastal region. "Let us work together with a triple engine: Engine of Central government, State government and our robust maritime sector," said Mr Goyal, promising the government's cooperation.

"Let the engine of growth and development in India prosper and flourish," he added.