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Policy & Economy News |
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India IT & business services market to reach US$ 14.3 bn by 2020: IDC Commerce Ministry prepares new programme to boost exports |
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Business News - The India Boom Factor |
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Record export of electronics items in last fiscal Exports to Maldives exempt from domestic restrictions Exports of knitwear from Tirupur to cross Rs 30,000 cr (Rs.300 billion) in current year India's cotton imports could surge to record high as output plunges: CAI Indian Cargo Volumes Rise To Six-Month High In April |
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Shipping News |
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OOCL announces new services to strengthen its North Europe service network with Indian Subcontinent & Middle East India cabotage reform boosting transshipment |
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Logistics News |
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CONCOR to invest up to Rs 8,000 cr for developing dry ports, distribution logistic centres |
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Indian Port News |
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Cochin Shipyard has its hands full JN Port handles more boxes in April 2019 y-o-y JNPT enhances vessel berthing capacity Separate dock system suggested at Kolkata Port to efficiently handle growing Bangladesh & coastal cargo |
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Policy & Economy News |
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India IT & business services market to reach US$ 14.3 bn by 2020: IDC Press Trust of India - New Delhi, May 08 Top |
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India's IT and business services market is likely to grow by over eight per cent to reach USD 13.1 billion by the year-end and expand further to USD 14.3 billion by 2020, according to research firm IDC. Of the total market, IT services segment contributed about 76 per cent in the second half of 2018, it said in a report. "The IT services market is slated to reach USD 10 billion by December 2019, growing at 9.1 per cent annually. The Indian government's higher spending on the Digital India and Smart Cities initiatives, and the increased adoption of next-gen technologies by organizations is driving growth in the IT services market," the report added. IDC estimated that the IT services market will grow at a CAGR (compound annual growth rate) of 8.6 per cent between 2019-2023 to reach USD 14 billion by the end of 2023. "The India IT & Business Services market is expected to grow annually by 8.8 per cent to reach USD 13.1 billion by December 2019, the report said, adding that the "market is further expected to register an annual growth rate of 8.7 per cent to be valued at USD 14.3 billion by December 2020". In India, growth in the IT services market is being propelled by the banking, financial services and insurance (BFSI) and the government verticals, IDC India Director Enterprise Solutions Ranganath Sadasiva said. "The other emerging verticals which are expected to adopt IT Services and futuristic technologies more aggressively in the next 3-5 years are the manufacturing, retail, healthcare and education verticals," Sadasiva added. Additionally, a number of technology start-ups offering niche solutions in artificial intelligence, machine learning, Internet of Things, blockchain, automation, etc have come up, which is further driving adoption of IT services in the country, he said. |
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Commerce Ministry prepares new programme to boost exports Exim News Service - NEW DELHI, May 7 Top |
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A new 100-day programme has been prepared by the Commerce and Industry Ministry for the new government that is expected to assume office by the end of May. In the programme, the Ministry has proposed to set up a separate logistics department that would be headed by a Secretary, with a view to enhance the growth of the sector, which is fundamental to boost exports, imports and the overall economy. Extensive coordination among different stakeholders of the logistics sector, including roads, railways, shipping, civil aviation, as well as the states is required, emphasised a report. Currently, there is a separate wing of logistics, headed by a Special Secretary in the Commerce Department. The Ministry has also proposed a new World Trade Organization (WTO)-compliant export incentive scheme for goods shipments to replace the existing MEIS. At present, exporters of goods avail incentives under the Merchandise Exports from India Scheme (MEIS). In this, the government provides duty benefits depending on product and country. |
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Business News - The India Boom Factor |
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Record export of electronics items in last fiscal
Exim News Service - New Delhi, May 5 Top |
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India's electronics items export jumped by 39 per cent to a record value of $8.9 billion in 2018-19, as against 12.3 per cent in the previous year, as per official data. DGCIS data also shows that between April and February 2019, export of telecom instruments (including mobile phones) surged a massive 129 per cent year-on-year to $2.4 billion, emerging as the largest segment in the category, reports said. |
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Exports to Maldives exempt from domestic restrictions
Exim News Service - NEW DELHI, May 8 Top |
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According to an official notification issued recently by the Directorate-General of Foreign Trade (DGFT), exports of specified quantity of essential commodities to the Maldives have been exempted from any kind of domestic restrictions or prohibition in the current fiscal. "Export of potatoes, onion, rice, wheat, flour, sugar, dal and eggs has been permitted to Maldives under bilateral trade agreement between India and Maldives during the period 2019-20 with effect from April," the DGFT said. It added that the export of these items to the Maldives would be exempted from any existing or future restrictions/prohibition. The fixed quantity for potatoes, onion, rice, wheat flour, sugar, dal and eggs are 15,492.36 metric tonnes (MT), 25,744.26 MT, 89,454.22 MT, 78, 612.26 MT, 46,444.74 MT, 161.65 MT and about 30.79 crore (307.9 billion), respectively, reports said. |
Exports of knitwear from Tirupur to cross Rs 30,000 cr (Rs.300 billion) in current year
Daily Shipping Times - Tirupur, May 10 Top |
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Exports of knitwear products from Tirupur is likely to cross Rs 30,000 crore (Rs.300 billion) during this financial year from Rs 26,300 crore (Rs.263 billion) registered in 2018-19, a leading exporter and Chairman of India International Knit Fair, A Shaktivel has said. Exports during April 2019 have crossed Rs 4,400 crore (Rs.44 billion) which is a very encouraging sign, Shaktivel told reporters in Tirupur. Besides, India now has an advantage after the US imposed tariffs on some products made in China, as many buyers and manufacturers were approaching India for textile products, he said. Moreover, India has the strength in raw materials, like cotton and an made fibre, including polyester, he pointed out. He said if the long-pending demand of exporters for a Free Trade Agreement with the European Union was met, exports to countries in Europe can be doubled in another three years and added that similar agreements with Canada and Australia would boost exports. |
India's cotton imports could surge to record high as output plunges: CAI
Daily Shipping Times - Mumbai, May 09 Top |
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India's 2018/19 cotton imports are likely to double from a year ago to a record 3.1 million bales as the drop in production to the lowest level in nine years forces textile manufactures to ramp up overseas purchases, a Senior Industry official said. Higher imports by the World's biggest cotton producer could support global prices which are trading near their lowest in two months. The drop in Indian supplies could help rivals such as the United States, Brazil and Australia increase cargoes to key Asian buyers such as China, Bangladesh and Pakistan. "The cotton crop estimate for the season is reduced by 600,000 bales to 31.5 million bales," said Atul Ganatra, President of the Cotton Association of India (CAI). The Country's exports in the year could drop to 4.7 million bales, down 33.3 percent from a year ago, he said. |
Indian Cargo Volumes Rise To Six-Month High In April
India Seatrade News - May 10 Top |
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Cargo handled by Indian ports in April rose the most in the last six months despite a drop in iron ore, fertiliser and other merchandise volumes. Volume growth at India's ports increased by 5.7 percent in April, greater than the long-term average growth rate of 4.5 percent, according to data compiled from Indian Ports Association website and Goldman Sachs. Ports across the country handled 600.7 akh tonnes of cargo in April, according to a Goldman Sachs report. The higher growth rate was led by liquid cargo, coal and containers. Liquid cargo-oil and gas related products-volumes grew nearly 15.6 percent compared with last year, or the highest in over a year, according to Goldman Sachs. Coal volumes, too, jumped after four months of decline, rising 18 percent to 164 lakh tonnes in April. Fertiliser volumes, however, declined as much as 36 percent to 7.4 lakh tonnes over last year, the lowest in two years. Iron ore volumes Container volumes which grew 5.4 percent compared with last year, witnessed its slowest growth in the last eight months. Goldman Sachs believes the continued container volume growth will benefit Adani Ports And Special Economic Zone Ltd. and Container Corporation of India Ltd. |
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Shipping News |
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OOCL announces new services to strengthen its North Europe service network with Indian Subcontinent & Middle East
Exim News Service - Hong Kong, May 6 Top |
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OOCL has announced that it will be strengthening its North Europe service network with the Middle East and Indian Subcontinent by introducing new Middle East/Indian Subcontinent-North Europe Services (IP1 and IP2) to be launched in June 2019. The IP1 and IP2 will provide direct linkage between the Middle East, Pakistan, India, the United Kingdom, France, Belgium, the Netherlands and Germany, offering more competitive and reliable services than transhipment options. It will also provide fast transit times from the Middle East, Pakistan and India. The coverage in United Kingdom is wide with 2 port calls, highlighted a release. IP1 port rotation: Karachi - Nhava Sheva - Hazira - Mundra - King Abdullah - Gioia Tauro - Tangier - Southampton - Rotterdam - Antwerp - London Gateway - Le Havre - King Abdullah - Djibouti - Karachi IP2 port rotation: Jebel Ali - Karachi - Nhava Sheva - Mundra - Jeddah - Tangier - Rotterdam - Hamburg - London Gateway - Antwerp - Le Havre - Tangier - Jeddah - Jebel Ali In addition, the strategic hub in Jebel Ali will allow the line to further connect its services to various OOCL networks in the region, thus offering exceptional flexibility and more shipping options to customers, the release emphasised. IP1 effective voyages: MSC TOMOKO 019W/019E * Westbound : ETA Karachi on June 4 * Eastbound : ETA Southampton on July 1 IP2 effective voyages: APL CHONGQING 016W/016E * Westbound : ETA Jebel Ali on June 2 * Eastbound : ETA Rotterdam on July 1 |
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India cabotage reform boosting transshipment
India Seatrade News - May 9 Top |
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Container lines operating to and from India have increased coastal operations in the emerging market country in the wake of a cabotage reform rolled out nearly a year ago as part of a larger trade development effort. May 2018 cabotage rule change, foreign-flag carriers no longer need any specific permission or license to transport laden export-import containers for transshipment and empty containers for repositioning between Indian ports. Such intra-country movements were previously the exclusive domain of domestic ship operators with limited - and often inadequate - tonnage capacity. As a result, coastal transshipment at Indian ports has grown considerably. Domestic transshipment volume - i.e., redirected shipments on mainline calls - stood at 106,273 TEU in March, the highest monthly volume since the cabotage liberalization and a 12 percent gain from the previous month. The percentage of loaded containers, however, slid from 88 percent in February to 84 percent in March. If the cabotage restrictions had still been in place, those containers would have made their way through the foreign transshipment hubs of Colombo, Sri Lanka; Singapore; and port Klang, Malaysia, among others, Container Shipping Lines Association (India) (CSLA) said. According to the association, Indian ports have thus far been able to convert an estimated 597,939 TEU of domestic containerized freight to direct shipping following the change. Despite the positive progress report, debate has been brewing over the merits of the liberalized cabotage policy between pro-reform groups and opponents - led primarily by members of the Indian National Shipowners' Association (INSA) - who argue that privately operated minor ports have reaped more of the benefits than their publicly run counterparts. Minor ports have the advantage of unregulated tariffs and superior infrastructure, while government-owned major ports have been handicapped by pricing regulations and comparatively lower efficiency. The market study shows a total of 4 million TEU were transshipped at Indian ports during fiscal 2018-2019, which ended March 31, with 3 million TEU passing through major state-owned ports and the remainder handled by private minor ports - Mundra and Krishnapatnam in particular. The Indian government's renewed focus on port development is already driving greater competition among the country's various transport modes, a trend that has brought positive pricing developments for shippers. For example, Indian Railways in December 2018 offered a 25 percent discount on its haulage rates applied to containerized rail operators for empty box movement, while Container Corporation of India (Concor) will freeze its intermodal freight rates, along with other inland charges, through the current fiscal year. Given Concor's dominant market position as the largest intermodal rail provider in India, the pricing freeze move could put pressure on rival private rail operators to follow suit, as well as trucking companies to readjust rates to remain competitive. Ocean carriers, meanwhile, have been extending their inland reach in India as part of a broader effort to provide integrated logistics services. Maersk Line, for example, has expanded its door-to-door cold chain offering, while CMA CGM recently started using double-stack block trains to move containers from Mundra port to the northern corridor. "We believe that India's trade growth lies in hinterlands," Steve Felder, Maersk's managing director for South Asia, said in a statement. |
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Logistics News |
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CONCOR to invest up to Rs 8,000 cr for developing dry ports, distribution logistic centres
India Seatrade News - May 10 Top |
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State-owned Container Corporation of India (CONCOR) on Thursday said it will pump in up to Rs 8,000 crore (Rs.80 billion) in the next five years to develop dry ports and distribution logistics centres across the country. "We are coming up with 20 distribution logistics centres and 100 dry ports. We are already operating 83 (dry ports) and we will make it 100. The 20 distribution logistics centres will be connected to 100 (dry ports). Total investment in the next five years will be Rs 6,000-Rs 8,000 crore (Rs.60-80 billion)," CONCOR Chairman and Managing Director V Kalyana Rama said during an event here. Container Corporation of India is a navratna company under the Ministry of Railways. CONCOR inaugurated its first distribution logistics centre at Ennore, Chennai, in Tamil Nadu in March. "So, there will be around 120 centres which will be connected as a network to provide these distribution logistics services for entire India. We will be able to give some reduction in the logistics cost," he added. The company, he said, is planning to line up Rs 1,000 crore (Rs.10 billion) as a capital expenditure in the current financial year. "This year (financial year), we are planning (a capital expenditure) of Rs 1,000 crore (Rs.10 billion). Last year, We spent Rs 770 crore (Rs.7.7 billion)," he added. He further said the state-owned company is expecting a growth of around 10-12 per cent in the financial year 2019-20. "Last fiscal, on the volume side, it (the growth) was around eight per cent, and on the financial side (topline), (it was) 12 per cent and bottom line, it was 21 per cent," the CMD said. CONCOR commenced operations in 1989. It now has the network of 83 inland container depots and container freight stations. In addition to providing inland transport by rail for containers, it has also expanded to cover management of ports, air cargo complexes and establishing cold-chain, according to its website. |
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Indian Port News |
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Cochin Shipyard has its hands full Exim News Service - KOCHI, May 5 Top |
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Cochin Shipyard Ltd (CSL) has signed a contract for construction and supply of eight (8) Anti-Submarine Warfare Shallow Water Crafts (ASWSWCs) for the Indian Navy. CSL was the successful bidder in the tender floated by the Ministry of Defence for this project. The order value for these 8 vessels is pegged at Rs 6,311.32 crore (Rs.63.1 billion). The first ship is to be delivered within 42 months from contract signing date and the balance ships' delivery schedule will be two (2) ships per year. The project will have to be completed within 84 months from date of signing the contract. The ASWSWC contracts augur well for CSL into the future. It is currently investing a total of Rs 2,769 crore (Rs.27.6 billion) in building a new 310 m long dry dock at Kochi and a shiplift-based ship repair yard at Willingdon Island, Kochi. CSL presently has a robust order book in shipbuilding and ship repair. Presently, it is building India's first Indigenous Aircraft Carrier (IAC) for the Indian Navy, which is in advanced stages of testing and commissioning. CSL is also building a Technology Demonstration Vessel for the DRDO, two 1,200 PAX and two 500 PAX vessels for Andaman & Nicobar Administration. It is also constructing a total of 27 small vessels for clients like Inland Waterways Authority of India (IWAI), Department of Fisheries, government of Kerala and government of Tamil Nadu and Indian Navy. CSL recently won the contract for construction of four Mini Bulk Carriers for Utkarsh Advisory Services, Mumbai (part of JSW group) and nine Floating Border Outpost Vessels for the BSF from the Ministry of Home Affairs. It is also excelling in the ship repair front and has handled around 88 repair projects last year. CSL has also set ambitious plans of expanding geographically and has commenced its ship repair operations at Mumbai Port Trust. With a view to establish its presence across the Indian Coast, CSL is set to commence its ship repair operations at Kolkata and Port Blair shortly. CSL has also formed a joint venture company in Kolkata to cater the needs of the inland waterways vessels segment and is creating a new shipyard in Kolkata for this segment, said a release. |
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JN Port handles more boxes in April 2019 y-o-y Exim News Service - Navi Mumbai, May 6 Top |
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Beginning the new fiscal on a bright note, Jawaharlal Nehru Port Trust (JNPT) handled 4.31 lakh TEUs of container traffic in April 2019. This was 3.90 per cent more than the throughput handled in the corresponding month of the previous fiscal, informed an official communique. |
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JNPT enhances vessel berthing capacity Exim News Service - Navi Mumbai, May 7 Top |
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MSC SINDY with draught of 15.6 m the deepest vessel to dock at port Two critical parameters that define the calibre of any port are its operational efficiency and handling capacity, amongst many other port-led functions related to the maritime business. JNPT has systemically invested in enhancing these critical parameters over three decades and today has not only consolidated its position as the number one container port in India but is also ranked the 28th container port in the world and is the only Indian port amongst the top 30 container ports globally. On the port capacity expansion front, there are many initiatives undertaken by JNPT, but the most recent and important one was dredging of the navigational channel. The dredging of the navigational channel from 14 m to 15 m allows larger vessels up to 12,500 TEUs to berth at the port. Apart from increasing the depth of the channel, the dredging project also included increasing the width from 370 m to 450 m and increasing the channel length by 2 km, making it 35.5 km. This strategic development was made keeping in mind the global market trend of deploying larger vessels to carry more consignments at a time. So now JNPT is better equipped to handle these new generation vessels. This has equipped JNPT to handle larger vessels and in the last 3 months it has handled vessels with draughts of more than 15 m. Last week, JNPT docked the vessel MSC SINDY (draft of 15.6 m) at NSIGT, which is the deepest vessel ever to berth at the port. Speaking on this strategic development, Mr Sanjay Sethi, Chairman, JNPT said, "Our main focus is reducing the transaction cost and time for the ex-im trade, and dredging of the navigational channel is one of the most important initiatives towards it. Trade will benefit through optimal utilisation of capacity, saving in vessel waiting time, faster turnaround of larger vessels, incremental regional economic development and spin-off economic benefits.This strategic move is also critical in order to strengthen our presence in the global market and supports our endeavour to be a future-ready port." JNPT is on course to be amongst the top 15 ports globally with the completion of the development of the fourth terminal. With the ability to now handle larger vessels and the seamless integration of technology into port operations, which will enhance the overall port efficiency, JNPT is already sailing towards being amongst the best ports globally, emphasised a release. |
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Separate dock system suggested at Kolkata Port to efficiently handlegrowing Bangladesh & coastal cargo Exim News Service - Kolkata, May 8 Top |
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Kolkata Port Trust (KoPT) should develop a separate dock system with ship-to-shore handling facility in order to efficiently handle growing Bangladesh and coastal cargo, an ASSOCHAM paper has suggested. "KoPT is facing a number of challenges; as such it should alternatively develop separate berths/dock area as it would ease congestion due to traffic from Chittagong Port," suggested an ASSOCHAM paper on 'Shipping, Ports, Customs and Inland Waterways'. The paper also suggested that either Dhamra Port or Ennore Port should be developed as transhipment ports. It also said that permission for transhipment of Bangladesh export cargo via Indian ports, viz., Kolkata, Visakhapatnam, Jawaharlal Nehru Port Trust, Mundra Port will help create a reverse cargo flow from Bangladesh and develop the Indo-Bangladesh trade lane using rail/inland waterway and short sea shipping options as transport modes. The ASSOCHAM paper also suggested that coastal ex-im cargo for Bangladesh can have the flexibility to avail DPE (Direct Port Entry) for exports from Kolkata, instead of CFS routing; trade volumes will grow. "This would serve as revenue incentive". Further, manual filing of Import General Manifest (IGM) and other processes at Kolkata Port should be done away with to minimise delay in cargo movement and reduce operational costs, it said. Noting that under the current Indo-Bangladesh inland waterway protocol, there are just four calls agreed for transportation of goods, the ASSOCHAM paper has suggested, including additional ports from either side. "There is a substantial amount of cargo available for additional ports, for example-Pakur, Farakka, etc. within NW-1 for delivery in many other ports of Bangladesh," it said, as per a release. |
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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 |
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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. |