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Policy & Economy News |
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India's digital payments transaction value set to more than double, says study Manufacturing, Infra to add 58,200 jobs in April-September FY20 |
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Business News - The India Boom Factor |
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Soybean meal exports see significant rise in last fiscal Exports rise nearly 4 pc in May |
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Shipping News |
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CONCOR committed to its coastal shipping operations |
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Logistics News |
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Domestic air freight demand seen at 1.1 mt by 2025 Warehousing sector attracts USD 6.8 bn funds since 2014: Knight Frank Logistics sector expected to grow to $215 billion by 2020 : JLL |
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Indian Port News |
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Ministry of Shipping's major achievements in May 2019 Hapag-Lloyd commences container operations at Kakinada Container Terminal |
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Policy & Economy News |
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India's digital payments transaction value set to more than double, says study Exim News Service - New Delhi, June 17 Top |
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India's digital payments transaction value is projected to more than double to $135.2 billion in 2023 from $64.8 billion this year, according an ASSOCHAM-PWC India study. "India is expected to clock the fastest growth in digital payments transaction value between 2019 and 2023 with a compounded annual growth of 20.2 per cent," the study said. Though on a smaller base, India's CAGR of over 20 per cent is ahead of China with 18.5 per cent and the US at 8.6 per cent. The study said that India's share of worldwide transaction value of digital payments is also set to increase from 1.56 per cent to 2.02 per cent in the next four years. "The rise of digital commerce, innovation in payments technology using Artificial Intelligence, the Internet of Things (IoT), real-time payments, and the introduction of mobile point of sale (POS) devices have led to a reduction in the cost of acceptance infrastructure and also contributed to the growth of digital payment," the latest ASSOCHAM-PWC publication said. Listing the enabling factors for growing electronic payments, the study stated that regulatory efforts and the early successes of wallets of non-banking players played a catalyst's role in enhancing the digital landscape in the country in the last three years, with lot more traction coming in the past one year. "This has helped transform the competitive digital payments landscape in India to include telecom players, banks, wallet companies and retailers (e-commerce)''. Going forward, the key growth driver for digital payment would be inter-operability between the Pre-Paid Instrument (PPI) players, whose number has reached almost 50 in India. As of today, the customer and the merchant must have a common PPI operator to make the transaction happen. However, with inter-operability, such a hindrance can be removed, enabling users to make payments at any and all digitally-enabled merchant outlets without the need to possess the same wallet platform, said a release. |
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Manufacturing, Infra to add 58,200 jobs in April-September FY20 Economic Times - June 17 Top |
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The manufacturing, engineering and infrastructure sector is likely to add 58,200 new jobs in the April-September of this financial year, a report published Monday said. According to TeamLease Services biannual 'Employment Outlook' report for April-September FY20, these industries will witness a 2 per cent increase in net employment. "The manufacturing, engineering and infrastructure sector has employed 6.42 crore people as of HY2 of 2018-19. With the electronic manufacturing ecosystem is expected to reach investments worth Rs 26 lakh crore by 2025 the sector is expected to witness an exponential growth in jobs," Teamlease Services head of industrial, manufacturing and engineering vertical, Sudeep Sen said quoting the report. Further, he said, modernisation and the introduction of Industrial Internet of Things (IIoT) in manufacturing will not only witness the sector contributing around 25 per cent of the GDP of the country by 2022 but adding significantly towards job creation as well. Manufacturing, engineering and infrastructure industries will also witness 8.02 per cent growth in jobs between April-September 2019-20, he added. The report was done across 19 sectors and 14 geographies surveying 775 enterprises in India and 85 businesses across the globe. Further, the report revealed that in India tier II cities will witness over 5 per cent in hiring sentiment for April-September followed by tier III towns and rural areas with over 2 per cent growth each. Half of the 14 cities surveyed improve their outlook and the remaining half witness a reduction in their outlook for the April-September 2019-20 period compared to October-March of FY19, it said. Pune to witness over 5 per cent growth followed by Coimbatore with 4 per cent, Indore [4 per cent], Chennai [3 per cent], Ahmedabad [3 per cent], Kolkata [3 per cent] and Delhi [2 per cent], it said. However, the sentiment will decline by 1 per cent in Mumbai followed by Chandigarh [1 per cent], Nagpur [2 per cent], Bangalore [3 per cent], Hyderabad [3 per cent], Gurgaon [2 per cent] and Kochi [2 per cent], it added. Meanwhile, the report revealed that medium-sized businesses will see a jump of 5 per cent in outlook while large businesses will grow by 2 per cent. Functional areas like engineering (5 per cent), office services (4 per cent), blue collar (4 per cent) and marketing (3 per cent) are likely to see handsome increase in hiring, while hiring sentiment for the sales and IT functional areas is seen to stagnate. It also found that attrition rates dropped significantly in 5 of the 19 sectors during the previous HY (October-March, 2018-19) compared with the AprilMarch 2018- 19) while 5 other sectors witnessed significantly higher attrition during this period. |
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Business News - The India Boom Factor |
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Soybean meal exports see significant rise in last fiscal
Exim News Service - MUMBAI, June 16 Top |
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Soybean meal exports during April 2018 to March 2019 rose by 28.56 per cent to 24.35 lakh tonnes, in contrast to 18.94 lakh tonnes of exports in the same period of the previous fiscal, as per the data released by the Soybean Processors Association of India (SOPA), as per reports. Moreover, by the end of the season, total exports are likely to touch 20 lakh tonnes as the country had a good crop last year. The total carry forward stock from the previous year comes to 0.19 lakh tonnes with total production at 74.71 lakh tonnes. Around 20 lakh tonnes is expected to be exported while 6 lakh tonnes would be used as food for domestic consumption, and another 47 lakh tonnes as feed for domestic consumption. The balance stock of soybean meal in June is 1.148 lakh tonnes. Data from SOPA also points out that around 101.83 lakh tonnes of soybean is available for crushing, direct use and exports. However, in May 2019, soybean meal exports dropped to 38,000 tonnes as compared to 75,265 tonnes in April 2019. Iran was the main buyer of Indian soybean meal in May. Market reports suggest that farmers are expected to plant more soybean this season as they received 15 per cent higher prices compared to the minimum support price. At current prices, soybeans are more lucrative than other crops and there is a shift happening towards soybeans from maize and cotton in certain regions, reports said. |
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Exports rise nearly 4 pc in May
Exim News Service - NEW DELHI, June 16 Top |
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According to Commerce Ministry data, India's exports grew by 3.93 per cent in May 2019 to $ 30 billion on the back of healthy growth in electronics and chemicals shipments even as the trade deficit widened to a six-month high. Imports too increased, by 4.31 per cent, to $ 45.35 billion as crude oil and gold shipments shot up during the month. The trade deficit, the difference between imports and exports, aggregated at $ 15.36 billion, the widest since November 2018 when it stood at $ 16.67 billion, said a report. Sectors that recorded healthy export growth included electronics (51 per cent), engineering (4.4 per cent), chemicals (20.64 per cent), pharma (11 per cent) and tea (24.3 per cent). However, certain key sectors, among them being petroleum products, man-made yarn/fabrics, gems and jewellery, marine products, coffee and rice, recorded negative growth in May, according to the data. Oil imports grew by 8.23 per cent to $ 12.44 billion and non-oil imports rose by 2.9 per cent. Gold imports jumped 37.43 per cent to $ 4.78 billion in May. Cumulatively, exports in April-May 2019-20 rose 2.37 per cent to $ 56 billion. Imports grew by 4.39 per cent to $ 86.75 billion, resulting in a trade deficit of $ 30.69 billion, the report said. |
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Shipping News |
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CONCOR committed to its coastal shipping operations
Exim News Service - Ahmedabad, June 16 Top |
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The Container Corporation of India Ltd (CONCOR), a Navratna PSU under the Ministry of Railways, forayed into coastal shipping, with weekly services from Deendayal Port (Kandla) to VOC Port (Tuticorin) via New Mangalore Port and Cochin Port, in the first month of this calendar year. CONCOR has consistently maintained its weekly schedule with two dedicated vessels as promised, even if partially loaded many a time. These and other aspects of its coastal shipping operations were highlighted by Mr P. K. Agrawal, Director (Domestic), Mr Ravi Kumar, Executive Director (Distribution, Logistics & Coastal), and Mr Madhukar Roat, CGM/NWR, while addressing customers and their business associates here last week. Mr Roat asked customers to take maximum advantage of this interface opportunity to get their voice heard by CONCOR's top management. Mr Agrawal said CONCOR will continue to maintain its commitment towards service levels and is even willing to take it to the next level, for which it seeks suggestions from customers regarding areas of improvement and the strategic actions needed. Mr Agrawal announced that CONCOR will soon be commencing coastal movement on the east coast and to Bangladesh, to cater to the traffic from west to east. He called on customers to explore the possibility of loading heavy duty containers to carry 31 metric tonnes of cargo, which will reduce their per tonne cost. The occasion also saw the CONCOR management team answer queries from customers. Mr Ravi Kumar gave an update on the ground realities regarding coastal shipping operations. He also talked about the expected service levels, acceptable cost and commitments from customers to call a particular port in demand. CONCOR has been the leader in the rail movement of containers with its 83 container terminals across the country, 330 own rakes running between the ports and hinterland, besides plying 30,000 containers across multiple domestic business streams, said a release. |
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Logistics News |
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Domestic air freight demand seen at 1.1 mt by 2025
Exim News Service - June 19 Top |
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According to a research note by Crisil, domestic air freight demand is expected to touch 1.1 million tonnes by 2025 at a compounded annual growth rate (CAGR) of 7-9 per cent, propelled by rapidly growing e-commerce activity, increasing capacity and improving airline connectivity to smaller cities. The cargo capacity of airlines is expected to grow at a higher CAGR of 13-15 per cent, given the impending fleet expansions, the note said. The estimated Rs 600-700 crore domestic dedicated air freighter market stood at 0.8 million tonnes in 2019, with a CAGR of 8 per cent in the last five fiscals. Ironically, the domestic dedicated freighters fleet currently stands at just seven planes, compared with about 680 passenger aircraft, including those of the grounded Jet Airways. In comparison, as per Boeing data, the global freighter fleet stood at 1,870 aircraft as of 2017, compared with a commercial fleet of 24,400 aircraft. In terms of revenue per tonne-kilometre, dedicated freighters have just about 15 per cent share of the domestic air freight market, compared with 50-55 per cent globally. This is because while their global peers move cargo across countries/continents, those in India operate on shorter distances and lead times, leading to competition from other modes of transport, as per the note. |
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Warehousing sector attracts USD 6.8 bn funds since 2014: Knight Frank
Daily Shipping Times - New Delhi, June 21 Top |
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The warehousing sector has attracted around USD 6.8 billion (approximately Rs 47,385 crore) funds since 2014 from institutional investors and developers amid rising demand for logistic spaces from manufacturing and e-commerce players post implementation of GST, according to Knight Frank. Leasing of warehousing spaces went up by 77 per cent last calendar year to 46.2 million sq ft, the property consultant said in its India Warehousing Market 2019 report. "The warehousing industry has witnessed massive participation from institutional investors, as well as developers, who have collectively invested over USD 6.8 billion since 2014, with an average investment per deal of USD 282 million," Knight Frank said. Knight Frank India CMD Shishir Baijal said the growth of the manufacturing sector would have the most prominent impact on the Indian Warehousing industry. This sector's storage requirement, expected to reach 86 million sq mt by 2024, instantly puts the spotlight on scope and growth for developers and investors in the warehousing market, he added. According to the report, total warehousing space demand is currently estimated at 68 million sq mt (739 million sq ft) for the manufacturing sector, and this is projected to grow at a compounded annual growth rate (CAGR) of 5 per cent in the next five years to 86 million sq mt (922 million sq ft) by 2024. Baijal said the warehousing segment is in the midst of an evolutionary leap spurred by the new GST regime, technological enhancements and the increasing adoption of third-party logistics providers. The report highlighted that logistics cost in India accounts for 13-14 per cent of the gross domestic product (GDP) which is substantially higher than the (8-10 per cent) logistics cost to GDP ratio in other developed countries. The primary reason for this is the skewed Multi-Modal mix and the fact that 60 per cent of freight movement in India happens via roadways, it added. |
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Logistics sector expected to grow to $215 billion by 2020 : JLL
Daily Shipping Times - Mumbai, June 20 Top |
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Demand for logistics and warehousing space in India outstrips supply, reveals JLL's latest report, titled 'Indian Logistics and Warehousing: Tracing the Lifecycle'. According to the report, the annual demand of around 32 million square feet has outstripped the supply of 31 million square feet. This has happened for the first time in the last four years. With the January-March period of 2019 witnessing 8.4 million square feet of absorption, it is expected to clock around 38 million square feet by end of 2019. "With high demand, lease transactions have remained high so far," the report said. "Alongside the rise in transactions, the share of Grade A spaces leases have also gone up in the past four years," it added. Of the total 32 million square feet of industrial and logistics leases in 2018, 56 per cent were Grade A spaces. 'Huge potential' Sectors such as 3PL/logistics, engineering, auto & ancillary, e-commerce, FMCG, retail, and telecom and white goods have remained the biggest demand drivers. As a result of the high demand, logistics sector is expected to grow to $215 billion by 2020. Ramesh Nair, CEO & Country Head, JLL India said, "Favourable investment regulations have made the deployment of development funds a lot easier than it used to be in the past. Moreover, the infrastructure status has added strength to the development pace. GST implementation has brought in a uniform tax regime and has removed the challenges relating to logistics supply chain, making it easier for operators in the space to expand across geographies." Yogesh Shevade, Head, Industrial Services, JLL India, said, "There is huge potential in the logistics and warehousing sector. With high demand for high-quality logistics facilities and increasing market maturity, the space is set to grow from this stage. However, development side continues to witness challenges on account of problems such as land aggregation, tax parity etc." "Hopefully, we will witness easing of these challenges with further reforms," Shevade added. |
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Indian Port News |
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Ministry of Shipping's major achievements in May 2019 Exim News Service - New Delhi, June 18 Top |
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Inland Water Transport Inland Waterways Authority of India (IWAI) is the Project Development Consultant for the Kaladan Multimodal Transit Transport Project (KMTTP) being implemented by MEA. The objective of the project is to provide an alternative connectivity to the North-East Region from the Kolkata/Haldia Port. Phase-I of KMTTP has been completed. MEA has decided to appoint an operator for commercial utilisation of Port and IWT facilities established under the project. IWAI, in association with MEA, organised a stakeholders' conference in Kolkata on 15.05.2019 in connection with the selection of a Port operator for Phase-I of KMTTP. Private operators/stakeholders in Myanmar and India along with officers of government of Myanmar, Myanmar Port Authority, MEA and Ministry of Shipping/IWAI attended the conference. During discussions, operators/stakeholders in Myanmar and India evinced keen interest in bidding as O&M operator for KMTTP. Ship Repair and Shipbuilding Cochin Shipyard Ltd (CSL) posted yet another year (FY 2018-19) of excellent financial performance with a turnover of Rs 2,962 crore, an increase of 25.7 per cent, and a PAT of Rs 481 crore, an increase of 21.2 per cent over the previous year. In 2018-19, it achieved around 23 per cent increase in shipbuilding turnover, with major orders in shipbuilding, including 8 ASW Corvettes for Indian Navy, 10 RoRo/Ro-Pax vessels for IWAI and 9 floating border outposts for BSF. CSL also posted an all-time high ship repair turnover of Rs 831 crore, an increase of 33.5 per cent over the previous year. Port Sector Project relating to mechanisation of Berth No.16 (Old No. 18) for providing equipments for handling Bulk Cargo on DBFOT basis at a cost of Rs 469.46 crore and capacity of 6.73 MTPA was completed at New Mangalore Port. It was inaugurated by Secretary (Shipping) on May 22, 2019. |
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Hapag-Lloyd commences container operations at Kakinada Container Terminal Exim News Service - KAKINADA, June 20 Top |
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Kakinada Container Terminal has highlighted in a statement that a new carrier, Hapag-Lloyd, has commenced container operations at the facility. It has presently brought reefer inventory and will serve US-bound destinations by connecting weekly, every Wednesday, the sailing being of Far Shipping. This is set to boost reefer volume at Kakinada as the trade would now have the choice of multiple carriers, the statement emphasised. |
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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. |