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Policy & Economy News |
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FDI rises 15 per cent during Apr-Sept to US$ 26 bn Gujarat received Rs 24,012 crore (Rs.240 billion) FDI in first half of FY20 |
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Business News - The India Boom Factor |
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Seafood exports to China grow 42 per cent Saudi Arabia seeking logistics cooperation with India Maharashtra govt, APEDA to set up clusters for export of vegetables, fruits Nissan India posts highest-ever shipment in 5 years in December |
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Shipping News |
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ONE celebrates maiden voyage of vessel as part of IO3 service |
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Logistics News |
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LEAP India expects demand for pallets to touch 4 mn next year Adani forays into cold chain logistics with acquisition of Snowman Logistics | ||
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Indian Port News |
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JN Port achieves a new high of 5.11 m TEUs in 2019a Nepal consignments contribute to growth of Vizag Port in 2019 |
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Policy & Economy News |
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FDI rises 15 per cent during Apr-Sept to US$ 26 bn IBEF - January 02 Top |
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During the first half of the current financial year, foreign direct investment into India increased by 15 per cent to reach US$ 26 billion, according to government data. During April-September 2018, inflow of foreign direct investment (FDI) stood at US$ 22.66 billion. During April-September 2019-20, the maximum foreign inflows were in sectors, that include services (US$ 4.45 billion), computer software and hardware (US$ 4 billion), telecommunications (US$ 4.28 billion), automobile (US$ 2.13 billion) and trading (US$ 2.14 billion), the commerce and industry ministry data showed. The largest source of FDI contribution in India remained Singapore during the first half of the financial year with US$ 8 billion investments. This was followed by Mauritius (US$ 6.36 billion), the US (US$ 2.15 billion), the Netherlands (US$ 2.32 billion), and Japan (US$ 1.78 billion). The foreign investment norms were relaxed recently by the government in sectors such as brand retail trading, coal mining and contract manufacturing. |
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Gujarat received Rs 24,012 crore (Rs.240 billion) FDI in first half of FY20 Press Trust of India - Ahmedabad, January 2 Top |
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Gujarat has received Rs 24,012 crore (Rs.240 billion) in Foreign Direct Investment (FDI) in various sectors during the first half of the financial year 2019-20, which is almost double compared with the FDI recieved in the entire FY 2018-19, a state government release said. The state had received Rs 12,612 crore (Rs.126 billion) FDI during the last fiscal. As per the report of the Department for Promotion of Industry and Internal Trade (DPIIT) under the Union Ministry of Commerce and Industry, Gujarat attracted FDI of Rs 24,012 crore (Rs.240 billion) between April and September of the current fiscal, which is double than the entire investment received last year, the state government stated in a release. "This shows that Gujarat has emerged as the best destination for investment in the country. Between April 2000 and September 2019, the state has received a cumulative FDI worth Rs 1,41,000 crore (Rs.1.4 trillion)," it stated. Out of the 2574 large industries set up across India in the last three years, 734 such large units were set up in Gujarat alone, it said. Gujarat has managed to achieve this feat because of transparent and pro-people and pro-industry policies of the Vijay Rupani government, it said. |
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Business News - The India Boom Factor |
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Seafood exports to China grow 42 per cent
Apeda News - December 30 Top |
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China has emerged as a prominent buyer of Indian seafood, particularly the shrimp, in 2019 with export to the country registering the highest growth of about 42%. Indian seafood export to China reached $1 billion in January-November 2019, according to Marine Products Export Development Authority (MPEDA). In the same period of the previous year it was around $700 million. China is importing more to bridge the gap between rising demand and inadequate supply. Aquaculture shrimp production in the country is not enough to meet its rising consumption. With Chinese New Year approaching by the end of January, higher shrimp import is likely to continue, said Anwar Hashim, MD of Abad Fisheries. China is the largest producer of the shrimp with an output of 1million tonnes, bulk of which is internally consumed in the country. Besides insufficient production, a rise in direct imports by China after its stricter monitoring of illegal border trade with Vietnam has also contributed to growth in its seafood imports. Exporters further reckon that a fall in pork production may have led to increased consumption of fish and other meat. |
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Saudi Arabia seeking logistics cooperation with India Exim News Service - Riyadh, Dec. 30 Top |
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The Saudi Logistics Hub, a government initiative mandated to support the growth of Saudi Arabia's logistics sector, wrapped up its global roadshow of the year with final stop in Mumbai. The event highlighted Saudi Arabia's efforts to transform the country's logistics sector and promoted opportunities for cooperation with India. Drawing the participation of business leaders from the logistics industry, the roadshow aimed to introduce the Saudi Logistics Hub, attract investments to Saudi Arabia's logistics sector and strengthen the country's ties with key global logistics markets. Saudi Arabia and India have stepped up trade and investment cooperation in recent years. In 2018, India was Saudi Arabia's third largest export market and fifth largest import market, valued at $ 5.5 billion and $ 28.4 billion, respectively. Saudi Arabia currently commands a 55 per cent share of the logistics industry in the GCC region. Over the last decade, the country has invested more than $100 billion in its transport and logistics infrastructure, resulting in a comprehensive nationwide network. In 2019, Saudi Arabia achieved a 47 per cent increase in the number of new foreign transport and logistics companies, according to the Saudi Arabian General Investment Authority, said a report. |
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Maharashtra govt, APEDA to set up clusters for export of vegetables, fruits Exim News Service - Mumbai, Jan. 1 Top |
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The Maharashtra government, along with APEDA, plans to set up over 18 clusters in the state for export of chemical residue-free vegetables and fruits. The District Collector would head the clusters. Preliminary work has already started in Sangli, Solapur and Nashik. The clusters will also ensure that agriculture products meet the phytosanitary norms of developed countries. Under the plan, it will assess the agri export capability of every district, and help create infrastructure such as warehouses, distribution centres, pack houses and quality testing facilities, said a report. Maharashtra accounted for 65 per cent of the country's fruit and 55 per cent of vegetable exports. Last year 2.5 lakh tonnes of grapes, worth about Rs 2,300 crore (Rs.23 billion), about 50,000 tonnes of mangoes valued at Rs 406 crore (Rs.4.06 billion) and 67,000 tonnes of pomegranates worth Rs 688 crore were exported. Export of 15 lakh tonnes of onions earned Rs 3,500 crore (Rs.35 billion), said a release. |
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Nissan India posts highest-ever shipment in 5 years in December India Seatrade News - New Delhi, January 2 Top |
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Nissan Motor India on Wednesday reported shipment of 10,791 units in December 2019, registering its highest ever monthly exports in five years. Commenting on the performance, Rakesh Srivastava, Managing Director, Nissan Motor India Pvt Ltd, said, "Exports in December are the highest-ever single month shipment in the last five years, highlighting a strong thrust on Make in India." The Indian wing of Japanese automaker posted 49 per cent jump in domestic sales on month-on month basis in December at 2,169 units on the back of healthy performance of its compact SUV Kicks. "Domestic volume increase of 49 per cent month on month with improved performance of Kicks showcases the strength of Nissan's global SUV DNA," Srivastava said. Going forward, he added, the company is aligning its business strategy for sustainable growth volume with Nissan as Primary brand with introduction of multiple new product offerings while also strengthening the value propositions in Datsun products. The company sells products across hatchback, MUV, SUV and sedan segments under the Nissan and Datsun brands in India. |
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Shipping News |
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ONE celebrates maiden voyage of vessel as part of IO3 service
Exim News Service - Chennai, Jan. 1 Top |
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Ocean Network Express (India) Pvt. Ltd (ONE) celebrated the maiden voyage of its vessel MOL GUARDIAN V. 1945 E of the IO3 service on December 17, 2019 at the DP World CCTL Terminal Chennai. The Indian Ocean Service 3 (IO3) has the only direct call from South-East India to the Mediterranean, and North Europe. This product will offer new port coverage and boost reliability to a wider range of direct port call options to ONE's valued customers. ONE was represented on the occasion by Capt. Kuldeep Singh Chauhan, Director, Product and Network, India - Operations, Mr Rajeev Nair, Area Head - Chennai, Mr Ramalingam Balasubramaniam, Senior Manager - Operations, and Mr K. Devanand, Manager - Operations. DP World CCTL Terminal Chennai was represented by its CEO Capt. R. Venkatesh, Mr Jeemon Joseph - General Manager - Operations, Mr Mukul Nayan, General Manager - Commercial, and Mr Pratap, Assistant Manager - Customer Relations & Marketing. The event was marked by cutting of the cake jointly by Capt. Kuldeep Singh Chauhan and the Master of the vessel Capt. Romeo Rusu. Capt. Romeo Rusu and Capt. Venkatesh were also felicitated with plaques by Capt. Kuldeep Singh Chauhan, said a release. |
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Logistics News |
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LEAP India expects demand for pallets to touch 4 mn next year Daily Shipping Times - Mumbai December 30 Top |
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LEAP India, a leading supply chain management solutions firm for the auto, e-commerce and FMCG sectors, expects demand for pallets on lease to touch 4 million next year from 3 million deployed currently. After the introduction of GST, the demand for pallets from large warehouses has increased to drive vertical storage and efficient transportation, said the company. Increasing demand from both domestic and international warehousing companies is driving demand for efficient and international practices of storing and moving goods. Internationally, goods are stored and moved with the help of forklifts, which drives the demand for storing and transporting goods on pallets. India has moved well on this front in the last five years, and there is lot more to do in the next decade, said LEAP India. Palletising products can increase operational efficiency, on-time delivery, resulting in greater visibility of FMCG, beverage products on the shelves of retail outlets. A truck-load of goods requires 14 workers and 3 hours to load and unload. However, palletising can not only reduce requirement of manpower, but also reduce the loading time to just 30 minutes from 3 hours, which saves on additional costs, it said. Sunu Mathew, Managing Director, LEAP India said achieving the milestone to deploy three million pallets and becoming the market leader by serving every leading brand was quite encouraging. "We see enough opportunity in both pallets and FLCs. We are all geared up to tap this huge opportunity as we are well positioned to expand our pallets base," he said. |
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Adani forays into cold chain logistics with acquisition of Snowman Logistics Exim News Service - Ahmedabad, Dec. 29 Top |
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In line with strategy to be a leader in integrated logistics services. Adani Logistics Ltd (ALL), a wholly-owned subsidiary of Adani Ports and SEZ Ltd (APSEZ), has announced it has signed definitive agreements to acquire 40.25 per cent stake (for Rs 296 crore ie Rs.2.9 billion) in Snowman Logistics Ltd from Gateway Distriparks Ltd. The purchase price of Rs 44 per share represents an 8 per cent premium to the market price on December 27, 2019 and a 12 per cent premium to 60 day VWAP. As part of the transaction, Adani Logistics will make a mandatory open offer as per the Substantial Acquisition of Shares and Takeover Guidelines, 2011 for a maximum 26 per cent of the public shareholding in the company. Acquisition is subject to customary condition precedents and expected to close by March 31, 2020, said a release. Mr Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ, said, "We are excited today to announce the acquisition of Snowman Logistics Ltd. The acquisition is in line with our strategy and vision to be a leader in providing integrated logistics services in India and moving from port gate to customer gate. Cold chain is key product in customer gate strategy given India's consumer-driven demand. We will double the capacity in next 5 years. With focus on increase in utilisation, higher realisation from product mix and operational efficiencies, this vertical will help further improve returns of logistics business." |
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Indian Port News |
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JN Port achieves a new high of 5.11 m TEUs in 2019 Exim News Service - Navi Mumbai, Jan. 1 Top |
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Jawaharlal Nehru Port Trust (JNPT) has again crossed a new milestone in cargo handling, registering a throughput of approximately 5.11 million TEUs in calendar year 2019. It thus improved upon the 5.05 million TEUs achieved in 2018. Among its terminals, APM Terminals Mumbai (GTI) again led from the front, handling an impressive 2 million TEUs during the year. It was followed by DP World NSIGT with 0.99 million TEUs and PSA BMCT's 0.82 million TEUs. The Port Trust's own JNPCT handled 0.77 million TEUs, while the throughput of DP World NSICT was 0.52 million TEUs. One can therefore look forward to the port beating last fiscal's 5.10 million TEUs in 2019-20. Frequently setting new records is something that the facility has excelled in over the years, enabled by supportive government policies, forward-looking managements, dedicated employees, and the continuous and growing patronage of its users. |
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Nepal consignments contribute to growth of Vizag Port in 2019 Daily Shipping Times - Vizag, January 03 Top |
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Imports to the land-locked Himalayan Country of Nepal played a pivotal role in the growth of Visakhapatnam Port in 2019. Among the around 1,78,000 consignments imported through the port, 33,647 of them were bound for Nepal. "Growth at container terminal has consistently compounded at an annual growth rate of 22% since inception. The year on year growth from FY15 to FY19 has been impressive too, at 16%. Thanks to container movements to Nepal that played a pivotal role in the increase in import" said a senior official from Visakha Container Terminal, the sole agency responsible for handling the container terminal of Visakhapatnam Port. Officials said, traditionally, Nepal used to import essential commodities through the Kolkata Port. It was in 2017 that customs granted permission to Nepal to import via Visakhapatnam as well. And, gradually, in 2019 the Visakhapatnam Port actually handled more imports to Nepal than Kolkata Port. "Being a riverine port the turnaround time at the Kolkata Port is three to four days. On the other hand at the container terminal in Visakhapatnam import goods get cleared within four hours. So Nepal started importing through Visakhapatnam in 2017 and in 2019 we actually handled 52% of Nepal imports through India," the official added. "To facilitate imports to Nepal, shipping line major Maersk initiated a dedicated service in 2018 to transfer the imported commodities from Visakhapatnam to Birgunj in Nepal by train. In Birgunj the goods are handed over to Nepalese importers," stated an official. In fact, to provide safety and security to the goods bound for Nepal, Indian customs had introduced radio-frequency identification (RFID) technology early in 2019. All containers carrying the imported goods are fitted with this technology. It helps customs officials to locate the containers in transit wherever they are in India. "Going by the figure till December 2019, this fiscal the container terminal in Visakhapatnam is all set to cross the 0.5 million TEU mark and it goes beyond doubt that imports to Nepal played a significant role in the growth," said an official. |
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Disclaimer:
Above information is only indicative and given in good faith. We have collected the above information from various secondary sources. We have tried our best to be as correct as possible. However, we cannot guarantee 100 % accuracy in the above data. Our company / group will not be responsible for any mistakes / inaccuracies which might have crept in inadvertently. |