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Indo-Asean trade to touch $100 billion next year
India’s trade with the 10-member Asean bloc is set to touch $100 billion by 2015 from around $80 billion at present, thanks to the benefits flowing from the free trade agreement signed with the region, said Nirmala Sitharaman, Minister for Commerce & Industry.
Rupee tumbles to 1-year low
Dropping to an over 1-year low, the rupee breached 63 levels to end sharply lower (by 60 paise) on Tuesday at 63.54 against the dollar. The domestic currency was weighed down by heavy capital outflows due to negative growth data and global economic concerns amid sharp fall in peer currencies.
Why Indian ports can’t compete with Colombo
Cargo ships are getting bigger to handle larger volumes from Asia, particularly China, to Europe and the US. The container ship CSCL Global is the new ‘monster at sea;’ over 100 mega ships with carrying capacity of around 15,000 boxes on board sail the oceans.