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Policy & Economy News |
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Exports in March to reach US$ 32.38 bn; over US$ 330 bn in 2018-19: Prabhu India's Rs 1-trillion market cap club triples in the past decade: Report |
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Business News - The India Boom Factor |
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UK's exports to India grew at a faster rate in 2018 Madhya Pradesh has potential to double its share in Country's exports in next 5 years: FIEO India-Mexico bilateral trade breaks record; touches $10 billion India's export basket shows a welcome tilt to higher value-added manufacturing, tech driven items: RBI Indian businesses prepare to enter Kazakh market |
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Shipping News |
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Cruise to Dhaka via Sunderbans begins sailing MV Costa Venezia' makes maiden visit at Mormugao Port |
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Logistics News |
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Railways freight handling heading for a new high CONCOR inaugurates Distribution Logistics Centre in Ennore |
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Indian Port News |
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Deendayal Port is No. 1 again among Major Ports with over 115 mt handled in 2018-19 JN Port attains new high of 8.5 mt in bulk cargo handling Major Ports handle more overall cargo & containers in 2018-19 Kolkata Port achieves highest-ever cargo throughput in 2018-19 |
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Policy & Economy News |
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Exports in March to reach US$ 32.38 bn; over US$ 330 bn in 2018-19: Prabhu Press Trust of India - New Delhi, April 4 Top |
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India's exports are expected to reach USD 32.38 billion in March, the highest in any month so far, on account of healthy growth in sectors such as pharmaceuticals, Commerce and Industry Minister Suresh Prabhu said Wednesday. He said that exports would cross USD 331 billion mark in the 2018-19 fiscal year. "We will at least have USD 331 billion (in 2018-19) and in the month of March, we will have USD 32.38 billion, the highest ever in any month," he told PTI in an interview. He said that for the "first time", India has crossed USD 19 billion figure in pharma exports this fiscal. The commerce ministry will release the trade data on April 15. Prabhu said that the country's exports were declining for long time but now "this year, we would have record exports". The figures in 2018-19 would be the highest ever at a time when there is a worst scenario in the world trade front, he said. The outbound shipments are growing because of concerted efforts by the ministry in the last one year, the minister said. "We created a matrix between every product and every geography. Secondly, we had done series of road shows," Prabhu said adding export potential was tapped in regions such as Africa and Latin America. The ministry also held several meetings with then line ministries including food, agri, pharma and IT ministry to resolve issues hindering exports. The World Trade Organisation (WTO) yesterday stated that the global trade will continue to face strong headwinds this year and in 2020 after growing slower-than-expected in 2018, due to rising trade tensions and increased economic uncertainty. The minister said that India is recording a healthy growth in exports despite the fact that countries are putting barriers and following protectionist measures. Imposition of high customs duties by the US on certain steel and aluminium products have triggered a trade war kind of situation. India's exports grew by 8.85 per cent to USD 298.47 billion during April-February 2018-19. Since 2011-12, India's exports have been hovering at around USD 300 billion. During 2017-18, the overseas shipments grew by about 10 per cent to USD 303 billion. |
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India's Rs 1-trillion market cap club triples in the past decade: Report Business Standard: April 1 Top |
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The number of listed companies with a market value of more than Rs 1 trillion has grown three- fold in the past decade. On the last trading day of 2018-19 (FY19), there were 30 companies with market capitalisation of over Rs 1 trillion. A decade ago, there were only 10 companies in the coveted club. At the peak of the 2007-08 market boom, there were only 15 companies. However, following the global financial crisis, the number of companies in the Rs 1-trillion universe shrunk to just four. With an 81 per cent rebound in the market in FY10, the number of firms in the club rose to 14. In the past three financial years, while the members of the universe have changed, the total number of companies have increased by only four, despite a near 50 per cent jump in the benchmark Sensex. Tata group firm Titan Company is the latest addition to the club. |
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Business News - The India Boom Factor |
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UK's exports to India grew at a faster rate in 2018
Exim News Service - LONDON, April 3 Top |
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According to official figures released by the United Kingdom's (UK) Office for National Statistics (ONS), the country's exports to India increased at the fastest rate in 2018 among its top trading partners outside the European Union (EU) with a 19.3 per cent hike in goods and services trade. The figures were hailed by the UK's Department for International Trade (DIT) as a major boost to the Brexit-hit economy's future trading prospects. Besides India, Japan (7.9 per cent), China (4.6 per cent) and Canada (4.2 per cent) also registered increases when compared to the EU which grew at 3.6 per cent. Even with an increasingly challenging global economic outlook, these latest figures show that demand for UK exports across the world continues to grow and there is a clear global appetite for British products, Mr Liam Fox, the UK's Secretary of State for International Trade, said, as per a release. |
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Madhya Pradesh has potential to double its share in Country's exports in next 5 years: FIEO
Daily Shipping Times - Bhopal, April 5 Top |
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Mr. Ganesh Kumar Gupta, President, FIEO along with DG & CEO and Regional Chairman (WR) met Mr. Kamal Nath, Chief Minister of Madhya Pradesh to discuss about exports potential of the State and attract exports centric FDI in pharma, auto components, machineries, textiles, processed agriculture products etc. FIEO offered its assistance to help the State to increase its share from about 1.6% in India's exports to over 3% in next 5 years. Looking into the possibilities of augmenting exports to China and Iran of soyabean and soyameal, non basmati rice, pharmaceuticals, technical textiles, FIEO Chief urged the Chief Minister to lead a business delegation to China and Iran, which have huge demand for such products. Mr Gupta also emphasised the need for identification of more products under GI and marketing of such products through exclusive shops in the departure area of international airports to start with Mumbai and Delhi. FIEO also requested for inland freight subsidy for all products as the cost of carrying cargo from MP to JNPT, in many cases works out to be more than overseas freight. The Chief Minister asked FIEO to work more closely with the State to help it to exponentially increase its exports. Mr Kamal Nath also assured that he will pro-actively look into the issue of freight subsidy and GI products exclusive show rooms at international airports in India. |
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India-Mexico bilateral trade breaks record; touches $10 billion
Daily Shipping Times - New Delhi, April 4 Top |
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For the first time ever, India-Mexico bilateral trade has crossed $10 billion in 2018 making Mexico the most important trading partner of India in Latin American region surpassing Brazil. In the last one decade, the total trade has increased 240% out of which 58% came in the last two years since 2016. There has been an upward swing in the relations between the two countries after Prime Minister Narendra Modi's visit to Mexico in June 2016, when both countries decided to upgrade the bilateral relations to the level of "Strategic Partnership". In 2008, the total trade amounted to $2.98 billion. The trade has increased from $6.4 billion in 2016 to $10.16 billion in 2018, when a decade ago India was not even amongst the top 20 trading partners of Mexico but in 2018, India figures as 9th most important global trading partner. India entered the league of top 10 trading partners of Mexico in 2017. The major item of export from India has been vehicles and auto-parts since 2012, in 2018, India sold only $1.7 billion worth of commodity. |
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India's export basket shows a welcome tilt to higher value-added manufacturing, tech driven items: RBI
Daily Shipping Times - Mumbai, April 5 Top |
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The changing colour of India's export basket is giving a cue to the country's new trade dynamics. One interesting observation noted in the Reserve Bank of India (RBI) first bi-monthly monetary policy statement (MPS) 2019-19, relates to a shift noted in country's exports basket -- a clear swing away from primary and traditional low value-added exports to higher value-added manufacturing and technology-driven items. A comparison of key items of exports between 2011-12 and 2018-19 (April-February) reveals that there has been a significant increase in the shares of chemical and related products and engineering goods, and such a shift has imparted a measure of resilience to export demand in a hostile international trading environment, says RBI's policy statement issued recently. This comes as India's exports face tepid growth. RBI says against the backdrop of slowing global trade and commerce-inhibiting trade tensions, India's merchandise exports (y-o-y) moderated during Q2 and Q3 of 2018-19 relative to Q1. During Q2, the slowdown in exports was accentuated by a decline in shipments of readymade garments, rice and marine products; in Q3, exports growth was pulled down by gems & jewellery, engineering goods, and meat, dairy & poultry. It is evident that export slowdown is broad-based in nature and impacts most of India's traditionally strong export segments. Riding high on the back of the current dispensation's policy initiatives such as hikes in the interest equalisation rates for micro, small and medium enterprises (MSME) exports from 3 per cent to 5 per cent as well as measures announced in the Agriculture Export Policy (2018), the RBI hopes it will provide a further fillip to exports. "Under services, software exports rode on the upside of a significant improvement in export revenues of major IT companies in Q3. Optimistic forecasts of global IT spending in the next two years also portend well for the outlook of software exports. Lower outgo under income account also helped in containing CAD in Q3," said RBI. |
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Indian businesses prepare to enter Kazakh market
Economic Times - New Delhi, April 4 Top |
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Indian businesses are exploring to invest in a slew of sectors including infrastructure and energy in resource rich and Central Asia's biggest state Kazakhstan. Ambassador of Kazakhstan Bulat Sarsenbayev, Deputy Chairman of JSC National Company "Kazakh Invest" Marat Birimzhan, Director of the Regional Representative Office of the JSC Sovereign Welfare Fund "Samruk-Kazyna" Iskander Baitasov, as well as the Chairman of the Kazakh company "AlageumGroup" Yerkebulan Ilyasov held meetings with Indian entrepreneurs. During the meetings, the Indian business community was presented with detailed information on business opportunities in Kazakhstan, conditions, state support and competitive advantages to attract foreign investment. The two sides held discussion on the projects presented during the Kazakhstan-India Investment Forum, held on November 12-14 in Delhi. A number of projects in the fields of energy, industry, agriculture, infrastructure and finance, as well as the capabilities of the Astana International Financial Center were discussed. In particular, negotiations with NTPC Limited, Investment Fund of India, Millennial India International Chamber of Commerce, Industry and Agriculture were held during that event. A Kazakh-Indian Investment forum will be held on April 5 in Kolkata. The purpose of the forum is to enhance investment cooperation between Kazakhstan and India, as well as to strengthen ties between the two countries' entrepreneurs. |
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Shipping News |
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Cruise to Dhaka via Sunderbans begins sailing
Press Trust of India - Kolkata, March 29 Top |
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The first cruise between Kolkata-Dhaka became a reality on Friday after it was flagged off from a city dock. The vessel RV Bengal Ganga from Exotic Heritage group sailed off this morning for a 10 day trip with 19 passengers to Dhaka, company's VP Vinit Arora told PTI. The cruise will follow the 1530 km protocol route between India and Bangladesh. A standard operating procedure (SOP), for movement of passenger and cruise vessels on Inland Waterways coastal shipping route is already in place. Protocol routes are defined maritime navigational routes agreed upon by two countries through bilateral treaties. Currently, waterway is used between Bangladesh and India for carrying goods. The cruise will go via Hooghly, Padma and Brahmaputra rivers. The cruise is expected to cross the international border on the third day or March 31 after Customs & Immigration formalities from India's Hemnagar, the riverine international border on the India side of the Sundarbans. The cruise will cover Mongla port, Barisal, Chandpur which is famous for its Ilish (Hilsa) fish before it enters Dhaka. Two operators from each countries have shown interest on plying cruise. Based on response, details of cost and schedule will be worked out, Arora said. The passengers of this trip are mostly tour operators and some guests. Vikram Doraiswami, joint secretary in the External Affairs Ministry, had said the move was aimed to strengthen inland waterway routes between the two countries. |
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MV Costa Venezia' makes maiden visit at Mormugao Port
India Seatrade News - April 4 Top |
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The Mormugao Port hosted luxury cruise liner 'MV Costa Venezia' of Costa Cruises, which was on maiden visit to Goa on Wednesday, bringing in 3,738 guests involving 2,497 tourists and 1,241 crew. Till date from September 10, 2018 with the kick start of cruise liners to the state, Mormugao Port has hosted 30 luxury cruise liners for the current season. 'MV Costa Venezia' which was on a maiden visit to Mormugao Port has brought the tourists from different nations like China (276), Hong Kong (268), Switzerland (244), Germany (214), Brazil (162), Italy (150), France (143), and Britain (130). The cruise liner has arrived from Khor Al Fakan Port in Sharjah in the Persian Gulf on Wednesday morning and it sailed on its onward voyage to the Cochin Port later in the evening. The traffic manager MPT Vipin Menoth along with senior officials of the Port including chief vigilance officer (IOFS) Vijaya Dat Kagita, chief medical officer (MPT hospital) Dr Nimish Pillai, secretary (I/C) S P Mohan Kumar, harbour master Capt Arun Kumar and other executives visited the cruise liner. They were extended a warm welcome by the master of the cruise liner Capt Tihomir Muzic. A plaque exchange ceremony was held on board the cruise liner, being the maiden call of the cruise ship to the Mormugao Port. The traffic manager MPT Menoth extended warm welcome on behalf of 1700 employees and 4500 pensioners of the Port. "We sincerely acknowledge that Costa cruises are one of our premium clients and seek their continued patronage. During the next cruise season we are expecting around 14 vessels of Costa cruises to visit the Port. We are thrilled on your visit here, because it's a first Port of visit in India during your maiden cruise. We sincerely believe this visit will augur well for you and we will be a good omen to bring prosperity in future. The Mormugao Port is in the process of setting up a state-of-the-art cruise terminal in the near future, and we hope you will consider Mormugao Port to be your home Port in future. MPT has rationalised its tariff and have made it easy for cruise operators. We extend facilities to the family members of the crew to visit the port during the cruise chips stay in Port to facilitate family bonding." Capt Muzic of 'MV Costa Venezia' said, "This is our first visit to an Indian Port and after visiting other ports and countries like Sri Lanka, Malaysia, Singapore, Thailand, Japan, we will arrive in Shangai on May 18, where the ship will be based. As you know Costa cruises were always visiting Chinese Ports, but, now we are exploring other Indian Ports." India will be our future cruise market and I am happy and pleased to be here. We also have many Indian officers and crew on board, he added. |
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Logistics News |
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Railways' freight handling heading for a new high
Exim News Service - New Delhi, April 1 Top |
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THE Railways has set a record by handling 1,175 million tonnes (mt) of freight till the middle of March 2018-19, surpassing the 1,160 mt handled in the previous fiscal year. It handled incremental freight traffic of 54.14 mt from April to February 2018-19. At this pace, the Railways is expected to surpass the revised freight target of 1,216 mt for the fiscal year, reports said. |
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CONCOR inaugurates Distribution Logistics Centre in Ennore
Exim News Service - Chennai, April 2 Top |
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The Container Corporation of India's (CONCOR) first Distribution Logistics Centre, in Ennore, Chennai, was inaugurated on March 30, 2019 by Mr V. Kalyana Rama, CMD. This is an existing facility of NOR Infrastructure which has been selected to be CONCOR's partner in distribution logistics, said a release. A first-of-its-kind, the facility will be a fulfilment centre for the customers of different manufacturers and importers, the release added. |
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Indian Port News |
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Deendayal Port is No. 1 again among Major Ports with over 115 mt handled in 2018-19 Exim News Service - Gandhidham/Mundra, April 1 Top |
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Deendayal Port has retained the No. 1 position among the Major Ports for the 12th year in a row by handling a record volume of 115.40 million tonnes in the just-concluded 2018-19 fiscal year. This was a 4.82 per cent increase in throughput over the 110+ million tonnes handled in 2017-18, it is learnt from sources. The Chairman congratulated all the port officers and employees as well as the port users and stakeholders for their efforts towards achieving this new landmark. Meanwhile, with Adani Mundra Port handling 137 million tonnes, the Kandla/Mundra region has achieved a notable throughput of over 250 million tonnes in 2018-19. |
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JN Port attains new high of 8.5 mt in bulk cargo handling Exim News Service - Navi Mumbai, April 2 Top |
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Ends fiscal with 5.13 m TEUs Also showing its prowess in handling non-containerised cargo, Jawaharlal Nehru Port (JN Port) registered an all-time high bulk cargo throughput of 8.5 million tonnes in 2018-19. This was a 5.58 per cent increase over 2017-18, as per a communique. Its total overall throughput was over 70 million tonnes in the just-concluded fiscal, inclusive of bulk and liquid. Meanwhile, in its core competency, the port ended FY 19 on a high note by handling 5.13 million TEUs, which also included 4.71 lakh TEUs in March 2019, the highest in a month. It had handled 4.83 million TEUs in 2017-18. Besides, as part of the effort to automate procedures and digitalise processes, JN Port has discontinued Manual Form 13 and Form 11 and now has e-versions. It also has RFID-enabled gate automation systems in order to provide faster and efficient entry/exit for container trucks. And it plans to further enhance efficiency with the addition of 3 mobile scanners and a drive through scanner equipped with the latest technology, the communique said. |
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Major Ports handle more overall cargo & containers in 2018-19 Exim News Service - New Delhi, April 3 Top |
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The country's 12 Major Ports handled a total of 699.048 million tonnes (mt) of cargo in the just-concluded fiscal 2018-19, up 2.9 per cent compared to the 679.371 mt handled in 2017-18. Two ports crossed the 100-mt throughput mark, Deendayal Port, at 115.402 mt, and Paradip Port, at 109.275 mt. JN Port achieved the third highest overall volume at 70.706 mt, while Mumbai Port was 6th with 60.588 mt. The Major Ports handled 9.876 million TEUs of containers during the fiscal under review, 8.08 per cent more than the previous 9.138 million TEUs, it is learnt. As reported earlier, JN Port ended the fiscal with 5.13 million TEUs.  |
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Kolkata Port achieves highest-ever cargo throughput in 2018-19 Exim News Service - Kolkata, April 4 Top |
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All-round growth registered, including in box handling Kolkata Port Trust (KoPT), which includes Kolkata Dock System and Haldia Dock Complex, has achieved its highest-ever cargo throughput in FY 2018-19 by handling 63.7 million tonnes (mt), an impressive 10 per cent growth over the 57.9 mt it handled in 2017-18. KoPT is now the 5th largest in terms of cargo handling among the Major Ports and the second fastest growing port in the country, highlighted a release. Haldia Dock Complex too handled its highest-ever throughput of 45.2 mt during the fiscal, surpassing the previous high of 43.6 mt in 2007-08. Compared to last year's handling of 40.5 mt, this is an impressive growth of 11.6 per cent. Incidentally, Kolkata Dock System also posted its highest traffic handling of 18.5 mt in 2018-19, up 6.6 per cent compared to the previous year's 17.4 mt. In container traffic, KoPT surpassed 8 lakh TEUs of cumulative handling. Kolkata Dock ended the FY 2018-19 with 6.51 lakh TEUs and Haldia Dock Complex contributed 1.78 lakh TEUs, resulting in Kolkata Port handling 8.29 lakh TEUs cumulatively. The year gone by has taken the port from strength to strength at a time when the average growth across the Major Ports is about 3 per cent. New initiatives such as the calling of Capesize vessels with deployment of floating cranes at Sagar and Sandheads, large scale capacity addition in terms of increasing the cargo stacking area, focus on quicker turnaround of vessels and faster evacuation of cargo from the docks has enabled KoPT to achieve this milestone. The port, which is in its 150th year, has displayed the resilience, commitment and ability to ride out all challenges and uncertainties, as well as the stiff competition to serve its customers in the vast hinterland, the release emphasised. Mr Vinit Kumar, Chairman, KoPT, congratulated the trade partners, employees, feeder operators, shipping lines, stevedores, handling agents, importers, exporters and all the other members of Kolkata's shipping fraternity on this achievement and also appreciated their valuable support, the release added. |
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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. |