Daily News - Tuesday, 9 June 2026

Adani Ports Secures 10 Year Marine Services Contract in Argentina (Fortune India)

Adani Ports and Special Economic Zone Ltd (APSEZ), through its subsidiary Adani Harbour International FZCO, has won a 10-year marine services contract for Argentina’s first liquefied natural gas (LNG) export project, marking its entry into South America. The contract, awarded by Southern Energy S.A. (SESA) via a global tender, involves a consortium with Argentina’s Meridian Group and requires an estimated investment of USD $70 million (INR ~582 crore). Under the agreement, the consortium will deploy four tugboats, one anchor handling tug supply vessel, and one crew boat to provide marine services including tug operations, offshore logistics, and crew transfers. The LNG project, located in San Matías Gulf, Río Negro province, is being developed by SESA a joint venture of Golar LNG and Pan American Energy (PAE) and will liquefy gas from the General San Martin pipeline aboard the FLNG vessel Hilli Episeyo. Commercial operations are expected to begin in September 2027, with an initial capacity of 2.45 million tonnes annually, equivalent to about 28 LNG cargoes per year, making it Argentina’s first operational LNG export project. APSEZ CEO Ashwani Gupta stated that the deal strengthens India-Argentina energy trade links and expands India’s global energy logistics footprint.

India Hosts 50% of Global GCCs, Economic Survey Highlights GCCs in Aerospace, Defence, Semiconductors (Business World)

India continues to be the global hub for Global Capability Centres (GCCs), currently hosting 50% of GCCs worldwide, with three new centres established every two weeks, according to the Confederation of Indian Industry (CII). A recent CII report estimates their net economic impact could rise to USD $600 billion (INR ~49.9 lakh crore) by 2030, up from revenues of USD $40.4 billion (INR ~3.36 lakh crore) in FY19 to USD $64.6 billion (INR ~5.37 lakh crore) in FY24, reflecting a 9.8% annual growth rate. GCCs now employ over 19 lakh professionals, moving beyond back-office roles to strategic hubs in aerospace, defence, semiconductors, and advanced manufacturing, as highlighted in the Economic Survey 2024-25. Neelkanth Mishra, Chief Economist at Axis Bank and now Executive Director at the World Bank, noted that while AI and large language models may reduce outsourcing, India’s cost advantage-engineers at USD $500-700 (INR ~41,500-58,000) per month versus USD $8,000-10,000 (INR ~6.64-8.3 lakh) in the US-ensures GCCs remain attractive. The government’s policy push, infrastructure, and startup ecosystem have reinforced India’s position, with banking, insurance, retail, technology, media, and telecom identified as key sectors for expansion. Tier-2 and Tier-3 cities are increasingly being tapped for GCC facilities, signaling a broader geographic spread of India’s service export strength.

Indian Envoy Vinay Kwatra Meets Walmart CEO on Supply Chains (Economic Times)

India’s Ambassador to the US, Vinay Mohan Kwatra, held a series of high-level meetings in Washington DC with corporate and technology leaders to strengthen economic and strategic ties between New Delhi and Washington. He met Chris Nicholas, President and CEO of Walmart, to discuss the company’s investments in India, long term growth plans, and supply chain resilience, reflecting the Commerce Ministry’s push for deeper retail and logistics integration. In another engagement, Kwatra conferred with Ylli Bajraktari, President and CEO of the Special Competitive Studies Project (SCSP), ahead of his visit to New Delhi for the India-US Forum, focusing on cooperation in AI, quantum computing, and advanced technologies. On the security front, Kwatra met Sebastian Gorka, Deputy Assistant to the US President and Senior Director for Counterterrorism at the National Security Council, to deliberate on evolving global terrorism threats. These discussions build on the India-US Joint Statement of February 2025, issued after the PM Modi President Trump summit, which committed both nations to counter terror groups. The recent extradition of Tahawwur Rana, mastermind of the 2008 Mumbai attacks, underscores the operational outcomes of this alliance, highlighting India’s dual-track diplomacy of advancing supply chain and tech cooperation while reinforcing counterterrorism frameworks.