In a first, ferry service to connect India and Maldives

Agencies
June 9, 2019

Male, Jun 9: India and the Maldives have agreed to launch a passenger-cum-cargo ferry service between Kerala's Kochi and the Maldivian capital Male via Kulhudhuffushi atoll to strengthen connectivity between the two countries and boost tourism.

The initiative was announced during Prime Minister Narendra Modi's two-day state visit to the Indian Ocean archipelago.

A Memorandum of Understanding was signed between the two sides for the establishment of passenger and cargo services by sea.

The distance between Kochi and Male is about 700 km, and between Kochi and Kulhudhuffushi atoll is 500 km.

Prime Minister Modi and Maldivian President Ibrahim Mohamed Solih on Saturday directed officials to expeditiously work towards starting the regular passenger-cum-cargo ferry service between the two countries.

"I am particularly happy that we have agreed upon a ferry service between the two countries," Prime Minister Modi said while addressing the Maldivian Parliament on Saturday.

Foreign Secretary Vijay Gokhale said that the ferry service was discussed during the talks between Prime Minister Modi and President Solih.

"This is the first time we are going to begin passenger cum cargo services directly connecting the Indian mainland with the Maldives from Kochi via Kulhudhuffushi to Male," Gokhale said.

"Both the leaders emphasised the need to improve connectivity between the two countries through the establishment of enabling infrastructure and in this regard, directed their concerned officials to expeditiously work towards starting a regular passenger-cum-cargo ferry service between Kochi and Kulhudhuffushi and Male," the Ministry of External Affairs said in a statement.

This is Modi's first foreign visit after his re-election as Prime Minister in May, reflecting the importance India attaches to its 'Neighbourhood First' policy.

While Modi visited the Maldives in November 2018 to attend President Solih's swearing-in, this visit is the first by an Indian prime minister at a bilateral level in eight years.

The relations between India and the Maldives deteriorated after the then President Abdulla Yameen imposed emergency on February 5 last year.

Some decisions by Yameen including the imposition of restrictions on work visas for Indians and signing of a new Free Trade Agreement with Beijing also did not go down well with New Delhi.

However, ties were back on track under Solih's presidency.

China views the Maldives as key to its Maritime Silk Road project in the Indian Ocean as it has already acquired Hambantota port in Sri Lanka and Djibouti in the Horn of Africa.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 17,2020

New Delhi, Feb 17: Four death row convicts in the 2012 Nirbhaya gang rape and murder will be hanged on March 3 at 6 am a Delhi court said on Monday.

The Patiala House Court on Monday issued fresh death warrants against four convicts while hearing a petition by the state and Nirbhaya's parents.

Earlier, Delhi High Court on February 5 granted a week's time to the four convicts to avail of all legal remedies available to them and said that the convicts cannot be hanged separately since they were convicted for the same crime.

A Delhi Court had earlier issued a death warrant against the four convicts -- Vinay Sharma, Akshay Thakur, Pawan Gupta, and Mukesh Singh -- on January 7 and they were scheduled to be executed on January 22 at Tihar Jail. Later, the execution was suspended indefinitely by a Delhi court.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
May 26,2020

The Shopping Centres Association of India (SCAI) on Monday said the sector has lost over Rs 90,000 crore in the last two months, owing to the lockdown, and market players need much more than the repo rate cut and the loan moratorium extended by the RBI.

In a statement, the industry body said that the Reserve Bank of India's (RBI) relief measures are not adequate to support the liquidity needs of the industry.

According to the SCAI, there is a common misconception that the shopping centres' industry is centred around metros and large cities with investments only from large developers, private equity players and foreign investors.

"However, the fact is that most malls are part of the SMEs or standalone developers. i.e. more than 550 are single owned by standalone developers out of the 650-odd organised shopping centres across the country and there are 1,000+ small centres in smaller cities," it said.

Amitabh Taneja, Chairman of SCAI said: "The organised retail industry is in distress and has not earned anything since the lockdown and their survival is at stake. While the extension of the loan moratorium talks about some relief on repayment but won't help the industry in liquidity."

He said that a long term beneficial plan from the government is much required to revive the sector.

"Being the most safe, accountable, and controlled environment, unfortunately, malls have not been permitted to open which will lead to job losses and might even shut shops for a lot of mall developers," Taneja said.

In its representations to the Centre and the Reserve Bank of India, the association has also pointed out that, in absence of financial package and stimulus from the RBI, over 500 shopping centres may go bankrupt, that may lead to the banking industry staring at NPAs of Rs 25,000 crore.

The industry body has put forward its recommendations and requests to the government. It had sought moratorium till March 2021 at the least in terms of repayment of bank loans, interest, EMI and so on, without levy of any penalties or penal interest.

It has also sought a one-time loan restructuring with lower rates of interest, permitted for shopping centres and a facilitative and forward-looking support provision of short-term financing options for a period of six to 12 months, at lower interest rates, to meet the increased working capital requirements.

Among other relaxations, it had also appealed for GST rebates to offset the losses on account of and for the period of closure of business.

It also said that interest rates should be brought down to "manageable levels" of 5-6% in view of the precarious financial situation.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 21,2020

Beijing, Mar 21: China reported no domestically transmitted coronavirus cases for the third consecutive day even as seven more fatalities have been confirmed, taking the death toll in the country to 3255.

No new domestically transmitted cases of COVID-19 were reported on the Chinese mainland for the third day in a row on Friday, China's National Health Commission (NHC) said on Saturday.

The overall confirmed cases on the mainland had reached 81,008 by the end of Friday, which included 3,255 who died, 6,013 patients still undergoing treatment, 71,740 patients who had been discharged after recovery, the NHC said.

The NHC said 41 new confirmed COVID-19 cases were reported on the Chinese mainland on Friday from the people arriving from abroad, taking the total number of imported cases to 269.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.