ICRA: Capital support, finalisation of pending bills needed in port sector

24 May 2019 Editorial Team

The BJP-led NDA government has won a landslide victory in the Lok Sabha elections 2019. The government is expected to step up its game and aggressively pursue various infrastructure projects in roads, power, airports, ports and railways sector, which can jump-start the slowing domestic economy.

The turnaround time at ports has been reportedly reduced from 94 hours in FY14 to 64 hours in FY18 due to easing of norms, etc. Further, the dedicated freight corridor, likely to be operational within the next few years, is expected to improve railways logistics.

During the the government’s last tenure major policy initiatives were rolled out such as Sagar Mala, reforms on the tariff side for major ports, new model concession agreement (MCA) and several trade facilitation measures such as Direct Port Delivery model and simplification of customs procedures, which have helped the sector participants.

According to K Ravichandran, Senior Vice President and Group Head-Corporate Ratings, ICRA, “The reelection of NDA will be credit positive for the domestic port sector, as they are expected to continue with their port-led developmental model, which will throw open several business opportunities for the incumbents. Going ahead, adequate budgetary support will be imperative to realise all the goals identified under the Sagar Mala programme. Moreover, finalisation of some of the long pending bills on the governing structure for the major ports will be critical to realise the potential in the sector.”

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..