|
||
|
|
||
|
Policy & Economy News |
||
|
AI & machine learning will contribute $1 tn to Indian economy by 2035; govt committed to ensuring stable environment for investors & start-ups: Piyush Goyal Commerce Ministry looking at ways to revamp SEZ policy Govt to slash time taken to start new business to 5 days |
||
|
Business News - The India Boom Factor |
||
|
India can explore USD 82 billion export potential in 20 products in China: Report India exports 3.2 million bales of cotton in Q1 of cotton year 2019-20 India-Mauritius CECPA negotiations complete India earns 7.83 pc more from tea exports |
||
|
Shipping News |
||
|
Bahri extends liner shipping network to South India with MV Bahri Jeddah's maiden calls at Ennore & Chennai ports Chattogram port ready for Indian cargoes: CPA chairman |
||
|
Logistics News |
||
|
Mahindra Logistics opens distribution centre in north India Centre plans to set up chemical park in Gujarat: Mandaviya CONCOR incorporates Concor Last Mile Logistics | ||
|
Indian Port News |
||
|
GMB Ports' handle 4 % higher Cargo during April-Dec 2019 (YoY) APSEZ acquiring 75 pc controlling stake in Krishnapatnam Port Co. Cargo Volumes At Indian Ports Highest In 14 Months |
||
|
Policy & Economy News |
||
|
AI & machine learning will contribute $1 tn to Indian economy by 2035; govt committed to ensuring stable environment for investors & start-ups: Piyush Goyal Exim News Service - New Delhi, Jan. 6 Top |
||
|
Commerce and Industry and Railways Minister, Mr Piyush Goyal, on Monday inaugurated the National Stock Exchange (NSE) Knowledge Hub in New Delhi, an Artificial Intelligence (AI)-powered learning ecosystem that will assist the banking, financial services and insurance (BFSI) sector. Speaking on the occasion, he said that although India has developed as the second largest fintech hub in the world, a lot of work still needs to be done in the BFSI sector. He hoped that the Knowledge Hub created by NSE will fill in these gaps and help the financial sector to move into the future. The Minister said that this industry-driven learning ecosystem will help India in building next generation skills and capabilities in the BFSI sector. The use of AI will ensure that the skill upgradation is affordable and accessible and helps in the creation of a workforce that is adequate for the requirements of the sector. AI and machine learning will contribute $ 1 trillion by 2035 and this is a good beginning by NSE to tap the potential of AI and use it as a tool to create a workforce in the BFSI sector in India, Mr Goyal added. He also assured continued government support to investors and start-ups and said that India is a safe investment destination today for investors, informed a communique. |
||
|
Commerce Ministry looking at ways to revamp SEZ policy Press Trust of India - New Delhi, January 10 Top |
||
|
The Commerce and Industry Ministry has examined revamping of the Special Economic Zone (SEZ) policy to meet the global challenges being faced by Indian exporters, an official statement said on Friday. It has also discussed ways for implementation of the remaining recommendations of Baba Kalyani report on SEZ to facilitate ease of doing business in the present global market scenario, the ministry said in a statement. Commerce and Industry Minister Piyush Goyal chaired a meeting here on Thursday to review these issues. The statement said the recommendations which have been completed include review of specific exclusions proposed in NFE (net foreign exchange) computation in light of 'Make in India' initiative, sharing of duty exempted assets/infrastructure between units to be allowed against specific approval, and formalisation of de-notification process for enclaves. The committee was constituted by the ministry to study the existing SEZ policy and had submitted its recommendations in November 2018. "If India is on the path to become a USD 5 trillion economy by 2025 then the present environment of manufacturing competitiveness and services have to undergo a basic paradigm shift," the statement said. |
||
|
Govt to slash time taken to start new business to 5 days Economic Times - New Delhi, January 10 Top |
||
|
On the World Bank's list, India is ranked 136th in the category of ease of starting a business. You may now be able to start a new business in five days with minimal processes. The government is set to slash the requirements and time taken for starting a new business from 10 process and 18 days to five processes and as many days. Ten key services, including name reservation, incorporation as well as registration for various taxes such as goods and services tax, will soon be available via two forms instead of multiple individual ones at present. The Ministry of Corporate Affairs will in a month unveil the two new forms - 'Spice Plus' and 'Agile Pro' - which will replace six forms currently required to avail of these services, a government official said. These two forms will provide access to GSTIN, PAN, TAN, ESIC, EPFO, DIN, bank accounts and professional tax. "The new forms will be web-based and much easier to use. The Spice Plus (incorporation form) will allow you to apply for name and incorporation in the same form besides other paservices," the official said. Businesses will now have to register with the Employee State Insurance Corporation (ESIC) and Employees' Provident Fund Organisation (EPFO) at the time of incorporation, the official said. Inclusion of director identification number (DIN) and registration for professional tax along with registrations of permanent account number (PAN), tax deduction and collection account number (TAN) and GST identification number (GSTIN) at the time of incorporation would greatly improve the ease of setting up a business. |
||
|
Business News - The India Boom Factor |
||
|
India can explore USD 82 billion export potential in 20 products in China: Report
Daily Shipping Times - Mumbai, January 06 Top |
||
|
India can explore an annual USD 82-billion export potential in twenty products, including electrical equipment and ferro alloys, in the world's second largest economy China, according to a report by World Trade Centre. Indian exporters have a competitive advantage as far as these twenty goods are concerned. Currently, India meets only 3.3 per cent or USD 2.7 billion of the total annual import demands of USD 82 billion for these 20 products in China. India's exports of these 20 products are worth around USD 15 billion to the world, which is 4.5 per cent of the country's annual outward shipments. These goods constituted about 17 per cent of India's exports to China in 2018, according to the report by MVIRDC World Trade Centre Mumbai. India can substantially reduce its trade deficit with China, which stood at USD 53.56 billion in 2018-19, by enhancing its market share for these products in that country, the report added. Electrical equipment, tobacco, iron and steel, ferro alloys, parts of aircraft, engines and other auto-components, benzene, frozen boneless bovine meat are some of the product segment out of the 20 in the list. "In order to realise this untapped export potential, India and China must exchange trade delegation with members from these identified sectors. We must also create awareness on this opportunity among India's micro, small and medium enterprises producing these identified products," MVIRDC World Trade Centre Mumbai Senior Director Rupa Naik said. Increasing India's market share for these products in China will add further momentum to the growing exports of India in this Country, she added. India's overall exports to China grew 5.39 per cent to USD 11.57 billion in April-November 2019, even as our total exports to the world declined 2 per cent during this period. The country's overall trade deficit with China declined 5 per cent to USD 35.3 billion in the first eight months of the current financial year, compared to USD 37.3 billion in the year-ago period, the report added. |
||
|
India exports 3.2 million bales of cotton in Q1 of cotton year 2019-20 Daily Shipping Times - Pune, January 8 Top |
||
|
India has exporter 3.2 million bales of cotton during the first quarter of the cotton year that began on October 1, said trade body Cotton Association of India (CAI), which expects the total exports till September 2020 to hit 42 lakh bales. "Cotton export shipments from 1st October 2019 to 31st December 2019 which have already been shipped are estimated at 10 lakh bales while balance 32 lakh bales are expected to be shipped during the period from 1st January 2020 to 30th September 2020. Total exports estimated during the entire season are 42 lakh bales," said CAI. There is no change in the projection of cotton export for the season and the same is retained at 42 lakh bales as estimated by the CAI previously. There is no change in the projection of import of cotton and the same is retained at 25 lakh bales as estimated by the CAI previously. The import figure is lower by 7.00 lakh bales compared to that estimated for the last year. Shipment of imports from 1st October 2019 to 31st December 2019 which have reached Indian Ports are estimated at 6.50 lakh bales while balance 18.50 lakh bales are estimated to arrive Indian Ports during the period from 1st January 2020 to 30th September 2020 (total imports estimated during the entire season are 25 lakh bales)," the trade body said. |
||
|
India-Mauritius CECPA negotiations complete Exim News Service - New Delhi, Jan. 5 Top |
||
|
Negotiations for the proposed India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA), which seeks to mutually benefit both the countries in the area of trade in goods and services, has been completed, said a statement from the Commerce Ministry. Negotiations were held across several sectors, including goods, services, rules of origin, technical barriers to trade and sanitary and phytosanitary measures, trade remedies and dispute settlement. The statement from the Ministry said that the agreement was near finalisation. In a free trade agreement, two trading partners cut or eliminate duties on the majority of goods, besides liberalising norms to promote services trade and boost investments. Mauritius was the second top source of foreign direct investment into India in 2018-19, with India receiving $ 8 billion (about Rs 56,000 crore) foreign inflows from the country. Bilateral trade between the countries increased marginally to $ 1.2 billion in 2018-19 from $ 1.1 billion in 2017-18, said a report. |
||
|
India earns 7.83 pc more from tea exports Exim News Service - New Delhi, Jan. 6 Top |
||
|
India's tea exports earned 7.83 per cent more till November 2019 compared to the same period in 2018. There was a general upswing in global prices resulting in the cumulative average of Indian teas fetching Rs 226.55 a kg till November 2019 against Rs 206.79 during January-November 2018. This meant that every kg fetched Rs 19.76 more than the previous year, marking a gain of 9.56 per cent. Helped by the sharp increase in price, the overall realisation in the 11 months rose to Rs 5,158.86 crore (Rs.51.5 billion) from Rs 4,784.27 crore (Rs.47.8 billion). This meant a significant increase of Rs 374.59 crore (RS.3.7 billion) in the earnings, marking a gain of 7.83 per cent, said a report. |
||
|
Shipping News |
||
|
Bahri extends liner shipping network to South India with MV Bahri Jeddah's maiden calls at Ennore & Chennai ports
Exim News Service - Riyadh, Jan. 9 Top |
||
|
State-of-the-art multipurpose vessel will call regularly at Kamarajar Port & on inducement basis at Chennai International Terminal Bahri, a global leader in logistics and transportation, has reached a new milestone in its efforts aimed at expanding market footprint and enhancing connectivity, with the company's MV Bahri Jeddah making its maiden call at two of India's leading ports. The RoCon vessel arrived for the first time at the Kamarajar Port at Ennore and the Chennai International Terminal at Chennai Port on December 26 and 28, 2019, respectively, informed a release. Owned and operated by Bahri Logistics, one of Bahri's five business units, MV Bahri Jeddah will call regularly at Ennore and on an inducement basis at Chennai, offering direct call from South India to US East Coast. The business unit operates six multipurpose vessels on a regular liner schedule, all uniquely designed to carry project, break-bulk, container and IMO cargoes as well as heavy lifts, special purpose vehicles, and mining equipment in a single voyage. A ceremony was held on board the vessel to mark this achievement, in the presence of officials from Kamarajar Port Trust, MV Bahri Jeddah and Transmarine Cargo Services, which represents Bahri Logistics in South India in its capacity as a shipping agent. Representatives from shippers, Original Equipment Manufacturers (OEMs) and project forwarders were also present at the event. Mr Abdullah Aldubaikhi, CEO of Bahri, said: "In line with its long-term growth strategy, Bahri has remained keen on deepening its market presence and boosting its capabilities, and MV Bahri Jeddah's new milestone represents a major step forward in that direction. We aim to capitalise on Bahri Logistics' reputation as a preferred carrier for heavy lift cargoes and other RoRo segments as well as our two decades' experience in India to further strengthen our foothold in this promising market. With the new port calls, we are strategically positioned to offer our industry-leading logistics and transportation solutions to a wider customer base across the world." One of the top 10 break-bulk carriers in the world, Bahri Logistics has been present in India since 2000. Bahri has firmly established itself as a prominent player in the country's maritime sector, linking it with key global markets along the Arabian Gulf, Red Sea, the Mediterranean and the United States via a fast and reliable liner service using its fleet of state-of-the-art RoCon vessels. The company's service also helps connect India to Africa, Latin America and the Caribbean via internationally recognised transhipment hubs. With a dedicated office in Mumbai, Bahri India works with major OEMs for moving cargo exports out of India and is also actively involved in the shipment of high and heavy equipment, serving a growing roster of clients, the release added. |
||
|
Chattogram port ready for Indian cargoes: CPA chairman
India Seatrade News - January 8 Top |
||
|
The Chattogram port is all set to start transporting Indian cargoes, said Chattogram Port Authority (CPA) Chairman Rear Admiral Zulfiqur Aziz yesterday. Two trial runs are scheduled to be held this month for transportation of goods from India's north-eastern states to other parts using the port, Aziz said. He spoke in a meeting with journalists to brief about the overall performance of the port. On October 25 in 2018, India and Bangladesh signed three agreements for allowing New Delhi to use the Mongla and Chattogram ports as transit points to access India's north-eastern states for trade. A standard operating procedure was also signed in this regard on October 5 last year after a meeting between Prime Minister Sheikh Hasina and her Indian counterpart Narendra Modi in New Delhi. Around 52 percent work of the under construction Patenga Container Terminal is complete and operation in this terminal would start by this year, said the CPA chairman. Once the terminal is launched, a total of four lakh twenty-foot equivalent units (TEUs) of containers can be handled in the terminal annually while three container vessels and an oil tanker can be berthed at a time there, he said. Around 67 acres of privately-owned land has already been acquired for the Bay Terminal project while process is underway to acquire 803 acres more of government owned fallow land, Aziz said. The CPA has a plan to construct three container terminals having a total length of around three and a half kilometres within 2025. The eviction of illegal structures along the Karnaphuli river is an ongoing process, the CPA chairman said. Illegal structures have been cleared from around 30 percent of the land in the first phase last year and 25 percent more area would be recovered in the second phase, he said. He informed that the Chattogram port, Pangaon Inland Container Terminal, Kamalapur Inland Container Depot in Dhaka and the private off docks all together handled a total of 3.08 million TEUs of containers in 2019 with an annual growth of 6.34 percent. |
||
|
Logistics News |
||
|
Mahindra Logistics opens distribution centre in north India India Seatrade News - January 10 Top |
||
|
Mahindra Logistics Ltd (MLL), one of India's largest third-party logistics solution providers, said on Thursday it has launched a distribution centre for the pharma industry in north India, marking its foray into a temperature-controlled warehouse. Through this facility, MLL will manage the warehousing and distribution for its clients in addition to their inbound and outbound multi-modal transportation across the country. The warehouse is designed and equipped with the latest temperature control mechanisms for efficient power consumption, customised storage, diverse material handling equipment and technological solutions. "Our integrated distribution solution combining warehousing, transportation and express movement will help our customers optimise their cost and on-time delivery," said Chief Executive Officer Rampraveen Swaminathan. "It will align their distribution network in north India and achieve their post-GST requirements." With warehousing, transportation and freight forwarding operations spanning 15 million square feet and 75,000 vehicle placements per month, MLL has an extensive pan-India network and global connectivity. MLL is a portfolio company of Mahindra Partners, the one-billion-dollar private equity division of the 20.7 billion dollar Mahindra Group. Founded over a decade ago, MLL serves over 400 corporate customers across various industries like automobiles, engineering, consumer goods and e-commerce. |
||
|
Centre plans to set up chemical park in Gujarat: Mandaviya India Sea Trade News - January 10 Top |
||
|
Central government plans to set up a chemical park in Gujarat to give further boost to its industrial growth, Union minister of state (IC) for shipping and chemical & fertilizers Mansukh Mandaviya said on Thursday. Chemical and pharmaceutical companies make up the industrial base of Gujarat and we need to promote them, he said at the 10th Mega Industrial Exhibition organized by Ankleshwar Industries Association on Thursday. The NDA government at the Centre headed by Prime Minister Narendra Modi is not only pro-farmer but industry friendly too. We can't neglect businessmen because they are key contributors of wealth, which helps uplift the deprived sections of society, he said, defending demonetization and implementation of Goods and Services Tax. The minister also referred to improvement in ease of doing business, digital initiatives and "Make in India' campaign of the government. Five years ago, mobiles were not being manufactured in India but now over 100 companies under 'Make in India' initiative are either manufacturing mobiles here or selling them worldwide with base in our country. This has created endless opportunities for local businessmen, Mandaviya added |
||
|
CONCOR incorporates Concor Last Mile Logistics India Seatrade News - January 7 Top |
||
|
On Monday, the Container Corporation Of India Limited (CONCOR) announced that it had incorporated Concor Last Mile Logistics, a wholly-owned subsidiary, with a share capital of Rs 100 crore. The new company will be engaged in the development, operation, and management of goods sheds. Among other tasks, it would also undertake operation and management of freight terminals and will be developing warehouses. Additionally, it would provide first mile to last mile connectivity and its related services. Container Corporation of India Limited is a company engaged in transportation and handling of containers, which include both rail and road. The company is also engaged in the operation of logistics facilities, including dry ports, container freight stations, and private freight terminals. Its divisions are EXIM and domestic, which are engaged in handling, transportation and warehousing activities. Its international services include train services, road services, air cargo movements, refer services and block booking on a round trip basis. On the other hand, its domestic services include train services, volume discount scheme, door delivery, and terminal handling charges. On Monday, the stock closed at Rs 561, down by 1.48 per cent or Rs 8.40 per share. The 52-week high is recorded at Rs 665.05 and the 52-week low is recorded at Rs 460. |
||
|
Indian Port News |
||
|
GMB Ports' handle 4 % higher Cargo during April-Dec 2019 (YoY) Daily Shipping Times - Gandhidham, January 8 Top |
||
|
The Gujarat Maritime Board (GMB) Ports has handled 305.86 Million Metric Tonnes (MMT) of Cargo between April-December in FY 2019-20 registering a growth of 3.68% on YoY basis. Nearly 72.1 MMT of Crude Oil was handled accounting about 23.5%. Traffic handled at the Non-Major Ports of Gujarat during 2018-19 stood at 399.1 MMT while the capacity of the Non-Major Ports during 2018-19 stood at 542 MMT. In FY 2018-19, GMB handled about 57 % of total cargo collectively handled by the Major Ports in Country. GMB has established itself as maritime leader in Port Development, Privatisation and Specialised cargo handling in India. It is also the first Maritime Board of the Country which was created up in 1982 with a vision to enhance and harness Ports and International Trade as vehicles for economic development. |
||
|
APSEZ acquiring 75 pc controlling stake in Krishnapatnam Port Co. Exim News Service - Ahmedabad, Jan. 5 Top |
||
|
Aiming at 400 MMT by 2025. Adani Ports and Special Economic Zone Ltd (APSEZ), India's largest port developer, operator and the logistics arm of the Adani Group, has announced that it will be acquiring a controlling stake of 75 per cent from the existing shareholders of Krishnapatnam Port Company Ltd (KPCL). KPCL is located in the southern part of Andhra Pradesh, the state with the second largest coastline in India, and is a multi-cargo facility which handled 54 MMT in FY2019. This acquisition will accelerate APSEZ's stride towards 400 MMT by 2025, emphasised a release. The acquisition value of KPCL is approximately Rs.13,500 crore (Rs.135 billion). The purchase consideration will be funded through internal accruals and existing cash balance. The credit metrics of APSEZ consolidated are not expected to change with this transaction. The net debt to EBIDTA of consolidated APSEZ Ltd, including KPCL, in FY 2021 is expected to be around 3.2x (which is in line with the pre-acquisition of net debt to EBIDTA of 3.1x in FY2019). The acquisition is subject to regulatory approvals. The transaction is expected to be completed in 120 days, the release said. Commented Mr Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ, "KPCL is a crown jewel to join APSEZ's string of pearls, our network of 10 economic gateways to India, and this acquisition would accelerate our stride towards FY2025 vision of handling 400 MMT of cargo. Given the best-in-class infrastructure and the distinct hinterland catered by KPCL, this acquisition will not just increase our market share to 27 per cent but also add remarkable value to our pan-India footprint." "With the experience of successfully turning around acquisitions of Dhamra and Kattupalli ports, we are confident of harnessing the potential of KPCL and improve returns to stakeholders." Mr Adani added that APSEZ will target to enhance cargo volume at KPCL to 100 MMT in around 7 years and will double its EBIDTA in around 4 years through its process improvements and industry best practices, the release highlighted. |
||
|
Cargo Volumes At Indian Ports Highest In 14 Months India Seatrade News - January 10 Top |
||
|
Cargo handled by Indian ports in December rose the most in the last 14 months on the back of a jump in volumes of oil and gas related products and iron ore. Ports across the country handled 609.6 lakh tonnes of cargo in December-6 percent higher compared to last year, according to a Goldman Sachs report. Liquid cargo-which contributes nearly 37 percent to total cargo volumes-grew 10 percent year-on-year, the highest in the last eight months. Iron ore, which saw a growth in its volumes for eight consecutive months, grew 44 percent, partly aided by a favourable base. Container and coal volumes-which together constitute 41 percent of total volumes-continued to fall, albeit at a slower rate. Container volumes declined 1.6 percent, while coal volumes fell 7.6 percent compared to last year. Fall in container volumes, according to Goldman Sachs, could impact Adani Ports and Special Economic Zone Ltd., Container Corporation of India Ltd. and Gujarat Pipavav Port Ltd. The brokerage has a 'buy' rating on Adani Ports, while a 'neutral' rating on the other two stocks. |
||
|
--------------------------------------------------------------------------------------------------------------------- |
||
|
|
Corporate Office:
106/107, Technopolis Knowledge Park, Mahakali Caves Road, Chakala, Andheri (E), Mumbai - 400 093, India Tel:+91 22 66775000 Fax:+91 22 66775050 Email:corporate@samsaragroup.com |
|
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. |