| | APRIL 20258India's Commerce Minister Piyush Goyal suggested that the four-nation Mercosur organization and India look into forging bilateral free-trade agreements.His remarks take on importance given the lack of progress in attempts to broaden the scope of the Preferential Trade Agreement (PTA) between India and the Mercosur trade bloc, which consists of Argentina, Brazil, Paraguay, and Uruguay.He said that India was signing bilateral deals that would aid in the growth of its trade.Goyal added that India and Chile are collaborating to develop their PTA into a Comprehensive Economic Partnership Agreement. Signed in 2006, the PTA with Chile was extended in 2017. The free trade agreements with Peru are in advanced stages within the 33-nation LAC region.He stated that India is dedicated to strengthening its ties with the LAC nations in spite of obstacles such as the global economic recession, supply chain interruptions, and varying foreign direct investment.Goyal noted that in the three years since the deal, trade between India and the UAE has doubled. The minister also advocated for the FTA negotiations to end sooner rather than later. According to him, long-term agreements that are negotiated over ten to twenty rounds cannot develop into strong collaborations."We have been talking about a free trade agreement with Peru for a very long time. We need to make up our minds on where we want to get with that'¦FTAs that are negotiated over as much as 20 rounds, negotiated over engagements in once in six months or 12 months can never fructify into solid partnership," Goyal said."We must make up our mind either we do it (FTA), we do it fast. Or we agree to trade the way we are and see what we can do best within our existing arrangement," he added. With the use of local electrolyzers, Gujarat's Kandla port is expected to become the nation's first port to operate a green hydrogen plant inside its boundaries. According to a statement from the Shipping Ministry, the port plans to begin producing green hydrogen in the second half of 2025.The primary objective of this plant is to provide engineers and staff with the necessary exposure to the ecosystem that is involved in the production, processing, and storage of green hydrogen.Since L&T has developed a 1 MW Green Hydrogen Plant in Hazira, which was inaugurated by the Prime Minister more than a year ago, DPA has trusted L&T to manufacture these electrolyzers, acknowledging that L&T is a proven leader in the field of green hydrogen.L&T successfully manufactured these 1 MW electrolyzers in a record time of just three months. Since they are essential to the production of hydrogen, electrolyzers are the most important part of any green hydrogen plant. These electrolyzers will shortly be built on-site to begin operations, as the site work at Kandla has already been finished.By July 2025, the Green Hydrogen Plant should be completely operational. According to estimates, it can produce 18 kg of green hydrogen per hour or 80­90 tonnes annually.Green hydrogen from the plant will be used to power fuel cells and produce clean energy, opening the door for environmentally friendly and self-sufficient power options at the port. IN FOCUSCOMMERCE MINISTER SUGGESTS INDIA, MERCOSUR TO EXPLORE BILATERAL PACTSKANDLA PORT TO START GREEN HYDROGEN PRODUCTION BY JUNE 2025IN FOCUS
< Page 7 | Page 9 >