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Policy & Economy News |
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Better logistics & infrastructure seen helping exports touch $ one trillion India plans to add 500 GW renewable energy by 2030 in a bid to clean up air |
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Business News - The India Boom Factor |
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Maharashtra govt plans VC fund for export-oriented units India-Qatar bilateral trade & economic relations seen poised for major growth in coming years Indian spot iron ore cargo volume strengthens India imported coal worth Rs 1.7 lakh cr in FY'19 : Coal Minister |
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Shipping News |
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Govt committed to provide enabling environment for growth of seafarers in India: Mansukh Mandaviya |
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Logistics News |
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Commerce & Industry Ministry to give highest priority to logistics sector Vizag may get air cargo boost |
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Indian Port News |
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V.O. Chidambaranar Port creates new single day record in handling rock phosphate |
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Policy & Economy News |
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Better logistics & infrastructure seen helping exports touch $ one trillion Exim News Service - New Delhi, June 26 Top |
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India has huge potential to boost its exports of goods and services from the current $ 535 billion to $ one trillion in the next three years if government focuses on improving logistics, ease of doing business and modern trade infrastructure, said Mr Ganesh Kumar Gupta, President, Federation of Indian Export Organisations (FIEO), as per a report. He highlighted cutting logistics cost and time, proper implementation of government policies for exporters and timely refund of taxes as some of the steps needed. Reducing logistics cost by 10 per cent will help boost the country's exports by about 5-8 per cent, The logistics sector can be developed in an integrated way through new technology, improved investment, skilling, removing bottlenecks, improving intermodal transportation, automation, single window system for giving clearances, and simplifying processes, it was pointed out. |
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India plans to add 500 GW renewable energy by 2030 in a bid to clean up air Reuters - New Delhi, June 25 Top |
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India plans to add 500 gigawatts (GW) of renewable energy to its electricity grid by 2030, in a bid to clean up air in its cities and increase the share of renewables in its electricity grid, the government said on Tuesday. "By 2030 India plans to establish 500 GW of Renewable Energy capacity," said Anand Kumar, senior official at India's renewable energy ministry. "India would have installed 175 GW of renewable energy capacity by 2022 without taking into account large hydro and 225 GW including large hydro," Kumar said in a statement. |
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Business News - The India Boom Factor |
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Maharashtra govt plans VC fund for export-oriented units
Press Trust of India - Mumbai, June 27 Top |
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Maharashtra is mulling to start a venture capital fund which will help enterprises focused on exports, a minister has said. The western state is also in the process of setting up an export promotion council under a newly adopted industrial policy, Jaykumar Rawal, the minister for food and drugs administration, tourism and protocol, said. He made the remarks speaking at the World Trade Centers Association Day late last evening. The state government "will soon introduce a venture capital fund for export-oriented units," a statement from the organisers of the event said. It, however, did not divulge the corpus of the fund or any other details. The budget session of the state assembly is on at present. The budget for FY20 has proposed 50 industrial parks at taluka level for micro, small and medium enterprises, the minister was quoted as saying. Looking at the demand for cashews from the state, Rs 100 crore has been allocated for cashew processing industry to push the exports, he said. Similarly, for the dairy industry, the government is offering Rs 50 per kg to milk federations for pushing exports of milk powder, he said. Rawal said the state contributes for a fourth of the overall exports from India and added that the Government is committed to enhance on the same. It will also be expanding tourism police teams in pockets with high tourist footfalls like Sindhudurg, Aurangabad and Nagpur besides Shirdi and Mumbai, he said. |
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India-Qatar bilateral trade & economic relations seen poised for major growth in coming years
Exim News Service - Doha, June 24 Top |
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Bilateral trade and economic relations between India and Qatar are expected to see major growth in the coming years as both are working closely and aggressively to further expand and deepen the level of cooperation in several areas, says a report. India is already one of the leading trade partners of Qatar. As per the data from Qatar Chamber, the two-way trade jumped to QR44.13 billion ($ 12.12 billion) in 2018 from QR31.06 billion ($ 8.53 billion) in 2016, registering over 42 per cent growth in just two years. When compared on a yearly basis, the bilateral trade volume increased by nearly 24 per cent last year compared to 2017. India is one of the major importers of Qatari LNG. It also imports mineral fuels, mineral oils and products of their distillation. In addition, India imports several other products from Qatar, including chemicals, petrochemicals, petroleum gases, fertilisers and metal. Major Qatari imports from India include food, rice, iron and steel, refrigerators, furniture, footwear, freezers, machinery types, garments, apparels, a wide range of food products, medicine and medical instruments, the report said. |
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Indian spot iron ore cargo volume strengthens
Exim News Service - New Delhi, June 26 Top |
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In a positive development, Indian spot iron ore cargo volume has found a considerable amount of strength. 6 Indian spot iron ore cargoes surfaced in the market last week, which marked the largest amount seen since March 2012. All of the cargoes were to be exported to buyers in China, and all shipped on Handymax vessels, said a report. Spot iron ore prices are very high, and therefore, various iron ore-rich countries, including India, now have even more incentive to export the commodity. This development is positive for the Handymax market and also the entire dry bulk market at large, the report pointed out, adding that China remains poised to continue ramping up its iron ore imports. |
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India imported coal worth Rs 1.7 lakh cr in FY'19 : Coal Minister
Daily Shipping Times - New Delhi, June 27 Top |
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India imported 235.2 million tonne (MT) of coal in 2018-19 valued at Rs 1.7 lakh crore, Parliament was informed. During 2017-18, the Country imported 208.2 MT of the dry fuel valued at Rs 1.3 lakh crore, Coal Minister Pralhad Joshi said in Lok Sabha. In 2016-17, the Minister said, India imported 190.9 MT of coal valued at Rs 1 lakh crore. Joshi further said "despite the efforts made by coal sector, the Country is not self sufficient because there is limited availability of coking coal in the Country, which is an essential input for steel making." Further, power plants designed on low ash imported coal will also continue to import coal for their requirements, he said. The total estimated coal resources in the Country is 319.02 billion tonne. Every year about 3-5 billion tonne of proved resources were being added through fresh exploration of the coal inventory in India. If present rate of extraction prevails in the Country, coal would last for several decades, he added. |
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Shipping News |
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Govt committed to provide enabling environment for growth of seafarers in India: Mansukh Mandaviya
Exim News Service - New Delhi, June 25 Top |
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On the occasion of the International Day of the Seafarers on Tuesday, the Union Minister of State (I/C) for Shipping, Mr Mansukh Mandaviya, reiterated the government's commitment towards providing an enabling environment for the growth of seafarers in India. In a message on the occasion, the Minister said, "seafarers are unsung heroes of shipping, the industry on which everyone, everywhere relies for the goods we all need and want." The Minister also said, "The government of India is committed to provide an enabling environment for growth of seafarers from India." "The shipping sector has witnessed an unprecedented growth of 35 per cent in the number of Indian seafarers employed on Indian or foreign flag vessels this year. The figure rose from 154,349 in 2017 to 208,799 in 2018. The number has doubled since 2013, when it was just 1,03,835," he said He further stated that this phenomenal growth in the number of Indian seafarers has been possible due to a series of measures taken by the government during the last four years to improve the standards of maritime training, increase on-board training opportunities, improve the examination and certification system and facilitate ease of doing business. "While India has created a large capacity in imparting class-room training for Merchant Navy, there was a major constraint in providing on-board ship training for the students enrolled for class room training. However, I am glad to state that the number of students placed for on-board training has increased from 14,307 last year to 19,545 this year, showing a jump of nearly 37 per cent", he said. Mr Mandaviya informed that the training curriculum for the officers and the ratings were revised in 2016 not only to meet the global standards but also to meet the expectations of the foreign employers. To regulate the training institutes working in private sector, a system of 'Comprehensive Inspection Programme' (CIP) was designed to assess the quality of the institute on various parameters such as infrastructure, quality of students' intake, quality of faculty, pedagogy, performance in examination, on-board training and placement of students. An e-learning module was prepared to standardise the course material of these institutes and provided free of cost to all Indian seafarers to allow them to upgrade their knowledge and skills before appearing for the examination. To ensure increase in the supply side, a 15-year-old ban on setting up of new training institutes or increasing the capacity of the existing training institutes was lifted with certain conditions. In addition to these, major regulatory relaxation was made in 2017 for obtaining Continuous Discharge Certificate (CDC). CDC is an identity document for a seafarer. The CDC process has also been made online. DG shipping has issued more than 70,000 CDCs under new CDC rule in 2018, said a release. |
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Logistics News |
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Commerce & Industry Ministry to give highest priority to logistics sector
Exim News Service - New Delhi, June 27 Top |
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Union Minister of Commerce and Industry and Railways, Mr Piyush Goyal, reviewed the draft National Logistics Policy and the proposed action plan for implementation of the policy prepared by the Department of Logistics, Ministry of Commerce and Industry. The draft National Logistics Policy has been prepared in consultation with the Ministries of Railways, Road Transport and Highways, Shipping and Civil Aviation. Forty-six Partnering Government Agencies' (PGAs) inputs were analysed in detail for consideration in the policy, said a release. The Minister, in his opening remarks, urged that all the four Ministries and their departments must leverage existing infrastructure to support each other in the logistics chain. This will not only help in maximising capacity utilisation but also in reducing costs, he added. Mr Goyal directed that all four Ministries must work in coordination with each other so that the 14 per cent logistics cost of India's GDP can be brought down to 9 per cent. In the meeting, all aspects of logistics related to railways, civil aviation, shipping and inland waterways, road transport, ropeways, warehousing and cold chain were discussed in detail. The Minister exhorted the line Ministries that all efforts must be made for farm produce such as foodgrains, fruits and vegetables to reach from farm to market with minimum wastage of time. He also said that a Central scheme for cold chain across the country, especially for fruits, vegetables and perishables, may be made part of the action plan of the draft logistics policy so that it improves efficiency and reduces the loss in agri produce of farmers. During the review meeting, issues relating to rail freight rationalisation and freight policy for Dedicated Freight Corridor (DFC), having immediate implications for modal shift, were discussed at length. The Minister also directed that whenever any new road, railway, airport and shipping port project is being considered, the Logistics Department must be a part of the consultation process so that holistic planning will be possible, freight movement will be rationalised and passenger experience will improve. India's logistics sector is highly defragmented and the aim is to reduce the logistics cost from the present 14 per cent of GDP to less than 10 per cent by 2022. Besides, the country's logistics sector is very complex with more than 20 government agencies, 40 PGAs, 37 export promotion councils, 500 certifications, 10,000 commodities, and $ 160 billion market size. It also involves a 12 million employment base, 200 shipping agencies, 36 logistics services, 129 ICDs, 168 CFSs, 50 IT ecosystems and banks and insurance agencies. Further, 81 authorities and 500 certificates are required for ex-im, the release elaborated. As per the Economic Survey 2017-18, the Indian logistics sector provides livelihood to more than 22 million people and improving the sector will facilitate a 10 per cent decrease in indirect logistics cost, leading to a growth of 5 to 8 per cent in exports. Further, the Survey estimates that the worth of the Indian logistics market would be around $ 215 billion in next two years compared to about $ 160 billion currently. The Commerce and Industry Ministry is formulating the logistics policy so that India's trade competitiveness grows, more jobs are created, its performance in global rankings improves and paves the way for India to become a logistics hub, the release emphasised. |
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Vizag may get air cargo boost
Exim News Service - June 26 Top |
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Air India has reportedly agreed to consider starting new flights in the coming months from Visakhapatnam and also reducing cargo charges from the key east coast city of Andhra Pradesh, it is learnt. This follows a recent meeting between the top management of Air India and representatives of the Andhra Pradesh Air Travellers Association, reports said. One of the issues highlighted on the occasion was the difference in cargo-related charges in Visakhapatnam and Hyderabad airports, which was disadvantaging exporters from Vizag. Bringing the charges on par would boost air cargo from the city, it was pointed out, as per reports. |
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Indian Port News |
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V.O. Chidambaranar Port creates new single day record in handling rock phosphate Exim News Service - Tuticorin, June 26 Top |
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V. O. Chidambaranar Port has created a new record by handling 27,546 tonnes of rock phosphate in a single day from the vessel MV Ince Kastamonu on June 24, 2019, surpassing the long-standing previous single day record of 26,527 tonnes achieved on September 8, 2012. The vessel, which arrived from the Port of Aqaba with parcel size of 55,450 tonnes, discharged 27,546 tonnes of rock phosphate in a single day using mobile harbour cranes and hoppers. Green Star Fertilizers Ltd, the consignee, uses rock phosphate as raw material for manufacturing fertilisers. Seatrans Ship Management, Tuticorin was the steamer agent and Villavarayar & Sons, Tuticorin the stevedore, informed a port communique. "We at V.O. Chidambaranar Port are committed to ensure that we offer the best facilities, highest possible levels of service and productivity to all our customers. High level of mechanisation, committed employees and port users are behind this success," said Mr T. K. Ramachandran, IAS, Chairman, V. O. Chidambaranar Port Trust. |
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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. |