Shipping became a concern for Indian exporters during the Red Sea crisis, when freight rates increased sharply due to additional charges from foreign shipping companies. To address such issues and promote the sector, the Union Budget proposed setting up a Maritime Development Fund.
Tag: DPM Gan
Singapore may escape US tariffs on pharma exports: DPM Gan
Gan, who is also Minister of Trade and Industry, said this is a significant opportunity and agreement for Singapore because pharmaceutical goods are an important part of the country’s exports to the US. Pharmaceuticals make up over 10 percent of the country’s exports to the US.
Singapore-US trade talks focus on strengthening ties despite 10 percent tariff
On April 14, Singapore’s Ministry of Trade and Industry lowered the country’s growth forecast for 2025 to zero percent from 2 percent due to the US-China tariff conflict. Some economists have even warned of a possible technical recession.
Gan Kim Yong announced as Singapore’s new DPM, to replace Wong as MAS Chairman
Gan will keep his post as the Trade and Industry Minister. Additionally, he will replace the PM-elect as the Chairman of the Monetary Authority of Singapore (MAS).
