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Policy & Economy News |
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India projected to have the highest growth rate among major economies India's manufacturing sector to record robust growth in Q2: Report |
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Business News - The India Boom Factor |
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Russian investment in India to be fast tracked Oilmeal exports up Bilateral trade between India-US has skyrocketed since 2007 Indian fish exports to surge 61% to 1.7 mn tonnes by 2030: United Nation Report India's coal import rises 35% to 21.1 million tonnes in September India exported handcrafted goods worth Rs 1.36 lakh cr (Rs.1.36 trillion) in past 4 years: Irani |
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Shipping News |
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Höegh Autoliners' Superlow rolltrailer loads break-bulk from India for sugar plant project in Saudi Arabia First time ever! Longest inland water transport movement delivers fly ash successfully to Assam via Bangladesh |
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Logistics News |
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Maharashtra seen as a potential logistics hub of the country |
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Indian Port News |
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Visakhapatnam Port capacity up to 120 mt Major Ports register positive growth of 5.12 pc in H1 Port volumes will get boost from huge demand in Energy sector : APSEZ CEO Karan Adani |
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Policy & Economy News |
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India projected to have the highest growth rate among major economies Exim News Service - Washington, October 9 Top |
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The International Monetary Fund (IMF) has projected that India will grow at a rate of 7.3 per cent in the current year and 7.4 per cent in 2019, up from the 6.7 per cent growth rate recorded in 2017. If the projections come to fruition, India will once again become the fastest growing major economy in the world, overtaking China. "India's growth is expected to increase to 7.3 per cent in 2018 and to 7.4 per cent in 2019 (slightly lower than in the April 2018 World Economic Outlook for 2019, given the recent increase in oil prices and the tightening of global financial conditions), up from 6.7 per cent in 2017," the IMF said in its World Economic Outlook report. This acceleration, it added, reflected a rebound from transitory shocks (the cash ban and implementation of the national Goods and Services Tax), with strengthening investment and robust private consumption, reports said. |
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India's manufacturing sector to record robust growth in Q2: Report Economic Times - New Delhi, October 11 Top |
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India's manufacturing sector output is expected to register robust growth in the July-September quarter on account of higher production even as the hiring outlook for the sector remains subdued, a survey said Thursday. Moreover, half of the participants in the survey expect exports to rise in the second quarter. The estimates are part of Ficci's latest quarterly survey which assessed the sentiments of manufacturers for the second quarter for twelve major sectors -- automotive, capital goods, cement and ceramics, chemicals, fertilisers and pharmaceuticals, electronics and electricals, food products, leather and footwear, medical devices and technologies, metal and metal products, paper products, textiles machinery and textiles. Responses have been drawn from over 300 manufacturing units from both large and SME segments with a combined annual turnover of over Rs 2.8 lakh crore (Rs.2.8 trillion). A total of 61 per cent respondents said output will grow during July-September 2018 quarter from 49 per cent in April-June 2018, the survey said. This is the highest percentage of respondents expecting higher production since Q2 of 2015-16 where 63 per cent of respondents expected higher production -- a 12-quarter high sentiment. The percentage of respondents reporting low production decreased to 9 per cent in Q2 2018-19 from 13 per cent in Q1 of 2018-19. However, rupee depreciation has not led to any significant increase in exports during the first quarter as 83 per cent of the respondents reported that shipments were not affected much by a weakening rupee. According to the survey, high growth is expected in cement and ceramics, capital goods, automotive and medical devices and technologies in Q2 2018-19, whereas textiles, textile machinery, metal and metal products, electronics and electricals, chemicals, fertilisers and pharmaceuticals, food products and paper products may witness moderate growth. "Hiring outlook for the sector remains subdued in near future as 65 per cent of the respondents mentioned that they are not likely to hire additional workforce in next three months," said the survey. Besides, average interest rate paid by the manufacturers has remained same vis-a-vis the last quarter standing at 10.2 per cent per annum but the highest rate continues to be as high as 15 per cent. However, the cost of production as a percentage of sales for manufacturers in the survey has risen for 71 per cent respondents. This is primarily due to increased cost of raw materials, wages, power cost and rupee depreciation, it said. |
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Business News - The India Boom Factor |
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Russian investment in India to be fast tracked
Exim News Service - New Delhi, Oct. 8 Top |
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The Union Minister of Commerce and Industry and Civil Aviation, Mr Suresh Prabhu, has announced the setting up of a fast track, single-window mechanism for Russian companies to be helmed by the Secretary, Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry. Addressing an India-Russia business summit here last week, he said that this mechanism would be in addition to the Russia Desk that had been set up earlier to promote Russian investment in India. The Minister informed that work on the International North-South Transport Corridor was underway and signing of a Free Trade Agreement with Eurasian Economic Union soon will create a huge market which will benefit all the countries of the region and also promote inter-regional partnerships between the states of India and the regions of Russia. He added that there was opportunity for India and Russia to collaborate in fields like hydrocarbons, gold and diamonds, timber, pharma, agriculture, power generation, aviation, railways and logistics. |
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Oilmeal exports up
Exim News Service - New Delhi, Oct. 9 Top |
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Driven by sharp increase in shipments of rapeseed meal, India's oilmeal exports surged 9 per cent to 41.03 lakh tonnes during the first six months of the ongoing financial year, according to industry data compiled by Mumbai-based Solvent Extractors' Association of India (SEA). The country exported 14,03,382 tonnes during April-September 2018 as against 12,84,788 tonnes in the same period last year, the data showed. Rapeseed meal exports doubled to 6,01,105 tonnes in the reported six months from 3,00,627 tonnes in the year-ago period. The major importers were South Korea, Vietnam and Thailand, reports said. |
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Bilateral trade between India-US has skyrocketed since 2007
Exim News Service: Washington, October 10 Top |
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According to data collated by the office of the United States Trade Representative (USTR), bilateral trade of goods and services between India and the US has gone up by 119 per cent since 2007 to touch $126.2 billion. "India is our ninth largest goods trading partner with $74.3 billion in total (two-way) goods trade during 2017. Goods exports totalled $25.7 billion and goods imports totalled at $48.6 billion. The US goods trade deficit with India was $22.9 billion in 2017," remarked USTR on its website. India was the United States' 15th largest goods export market in 2017. The latter exported $25.7 billion of goods to India, up by 18.7 per cent ($4.1 billion) from 2016 and up 71.6 per cent from 2007, reports said. |
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Indian fish exports to surge 61% to 1.7 mn tonnes by 2030: United Nation Report
Daily Shipping Times - New Delhi, October 10 Top |
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Exports of fish from India are expected to grow by 61.2 per cent by 2030 as the bulk of the perishable item shipped will originate from Asian Countries. According to a report by Food and Agriculture Organization of the United Nations titled 'The State of World Fisheries and Aquaculture', Indian exports of the fish will touch 1.72 million tonnes compared to 1.07 million tonnes recorded in 2016. Globally, fish exports are slated to expand 24 per cent by 2030. In the Asian continent, India will lead other nations in growth followed by Indonesia (57.6 per cent), Vietnam (42 per cent), Japan (40 per cent) and Thailand (24.8 per cent). China's fish production is tipped to grow 22.9 per cent, touching 9.4 million tonnes. "Fish and fish products will continue to be highly traded. It is projected that about 31 per cent of total fishery production will be exported in 2030 (38 per cent if trade within the European Union is included), in the form of different products for human consumption or non-edible purposes, traded at various stages of processing", said the report. Asian region will account for about 51 per cent of the incremental exports by 2030. The region's share in total trade of fish for human consumption is pegged at 50 per cent in 2030. China will continue to be the major exporter of fish for human consumption (followed by Vietnam and Norway), accounting for a share of 20 per cent. "Advanced economies are expected to remain highly dependent on imports to fulfil their domestic demand. The European Union, Japan and the United States of America will account for 43 per cent of total imports for food fish consumption in 2030, a slightly lower share than in 2016 (44 per cent)", the report added. |
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India's coal import rises 35% to 21.1 million tonnes in September
Daily Shipping Times -New Delhi, October 10 Top |
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India's coal import increased substantially by 35 per cent to 21.1 million tonnes (MT) in September, as against 15.61 million tonnes in the corresponding month previous fiscal. The rise in imports comes at a time when the captive power plants in the Country are grappling with the issue of coal shortages. "The increase in coal and coke imports in September is mainly due to higher imports of non-coking coal during the month under review," according to mjunction services, a joint venture between Tata Steel and SAIL. There was, however, a marginal drop in coking coal imports on a month-on-month basis, it said. Commenting on the coal import trend, mjunction CEO Vinaya Varma told that, "With the coal shortage persisting in the power sector, there is high demand for imported material. This, accompanied by a correction in thermal coal prices in the global market, has led to higher imports in September. If other things remain the same, this trend is likely to continue in October". Steam coal imports during the first six months of 2018-19 increased 17.5 per cent to around 82.5 MT, compared to 70.21 MT in the same period previous year, mjunction said. The Government had earlier said that during 2017-18 coal imports increased to 208.27 MT due to increase in demand by consuming sectors. The Country's coal import fell from 217.7 million tonnes in 2014-15 to 190.9 MT in 2016-17. |
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India exported handcrafted goods worth Rs 1.36 lakh cr (Rs.1.36 trillion)in past 4 years: Irani
Press Trust of India - New Delhi, October 9 Top |
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The country exported handcrafted goods worth Rs 1.36 lakh crore (Rs.1.36 trillion) in the past four years, Union Minister Smriti Irani said Monday. Addressing a Handloom Business Meet here, the textiles minister spoke about the significance of attaching the tourism industry to the rich crafts heritage through concepts like home-stays to propagate the legacy through youngsters. She said such a move could also generate additional income for weavers. "Most of our studies show that in a weaving community, it is the youngsters who are leaving because they see no expansive opportunities," she said. She urged social networking giant Facebook to get involved in the endeavour. "If Facebook cab help highlight in each artisan community that you have trained, this aspect, and connect them to the travel and tours, adventurists, I think that will also work," Irani said while participating in a panel discussion in the presence of Ankhi Das, Public Policy Director, Central and South Asia, Facebook. "In our country in the past four years we have exported handcrafted goods worth to the tune of Rs 1.36 lakh crore (Rs.1.36 trillion), she informed, highlighting the sector's potential. |
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Shipping News |
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Höegh Autoliners' Superlow rolltrailer loads break-bulk from India for sugar plant project in Saudi Arabia
Exim News Service: Mumbai, October 10 Top |
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Höegh Autoliners' reliable, direct service and new equipment was the perfect mix to transport a turbine from India, for a sugar plant project in Saudi Arabia. The freight forwarder chose Höegh Autoliners for the ocean transportation because of the direct, reliable connection from Mumbai to Jeddah offered in the India to Europe service. Furthermore, due to the sensitive nature of the break-bulk cargo, Höegh Autoliners' RoRo option meant minimal lifting, eliminating the risk of damage during the transportation process. Höegh Autoliners' vessels are built to handle a variety of break-bulk cargo; however, most vessels in the India to Europe service have a door opening of 5.1 m. This posed a challenge as the 54 MT turbine measured 4.51 m alone. The solution was to use the new Superlow rolltrailer which has a height of 0.47 m and capacity of 75 MT. Mr Atuldutt Sharma, Breakbulk Sales Manager India, says, "With the Superlow rolltrailer allowing us to load higher break-bulk cargo than before, we can increase the service offering to our customers in the country." With the supervision of Höegh Autoliners' Port Captain, the delicate break-bulk unit was safely loaded on board Höegh St Petersburg and stowed under deck, where it would not be exposed to seawater or weather. Höegh Autoliners is constantly developing equipment to cater to higher, heavier and longer cargo. Last year, the Extended rolltrailer and Double-wide rolltrailer were developed to transport longer and wider cargo. Now the Superlow rolltrailers are here to cater to higher break-bulk and project cargo, emphasised a release. "This is the first shipment out of India using the new Superlow rolltrailers. With the shipment, we are able to showcase to our customers our dedicated focus on break-bulk cargo through constant innovations in equipment design," Mr Sharma added. |
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First time ever! Longest inland water transport movement delivers fly ash successfully to Assam via Bangladesh
Daily Shipping Times -New Delhi, October 9 Top |
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In a first, fly ash has reached successfully Pandu Port in Assam via Bangladesh, making the longest haulage in inland water transport movement. The fly ash from NTPC, Bihar was transported by Inland Waterways Authority of India (IWAI) to Assam through serpentine routes of rivers and sea via Bangladesh before reaching Pandu Port. The first load of fly ash reached Assam on September 30. The fly ash transported by the teams of NTPC and IWAI from Bihar to Assam will be used by cement manufacturing company Star Cement. About 1,235 of Fly Ash was transported from NTPC Kahalgaon to Pandu Port via Kolkata through National Waterways 1 and 2 via Indo Bangladesh Protocol (IBP) route. The inland water transportation was chosen to deliver fly ash to Assam due to the lack of railway facilities in the Northeastern States. |
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Logistics News |
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Maharashtra seen as a potential logistics hub of the country
Exim News Service - Mumbai, October 8 Top |
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The Maharashtra Chief Minister, Mr Devendra Fadnavis, has said that he wants to make the state a logistics hub of the country to tap the growing investments in the sector following the introduction of GST. The entire country has been integrated to become a single marketplace now and logistics is the fastest growing sector, he said at an USIBC event here. He pointed out that a majority of the state's hinterland was now connected with the country's largest container port, Jawaharlal Nehru Port, and it is also creating three dry ports at Wardha, Nashik and Jalna from where farmers and other exporters will be able to directly send goods to ship out from JNP. The Chief Minister added that the state is also constructing the country's longest expressway, a 700-km road connecting Mumbai with Nagpur, which will also aid the logistics sector, reports said. |
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Indian Port News |
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Visakhapatnam Port capacity up to 120 mt
Exim News Service - Visakhapatnam, Oct. 7 Top |
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With the addition of 27 more berths, the capacity of Visakhapatnam Port has now risen to 120 million tonnes, according to Chairman, Mr M. T. Krishna Babu. Several projects are in progress at the port to further enhance its capacity and improve services to customers, he added. After reviewing the progress of the port, Mr Krishna Babu was speaking at a press conference here last week. He said the port handled 63.5 million tonnes of cargo in 2017-18 and was targeting 67 million tonnes for the current financial year. He expressed confidence that the target would be achieved, even surpassed. He said several old berths were being upgraded and new ones constructed, and that containerisation was also gathering momentum. He also made the point that the proposed new Major Ports in Andhra Pradesh would not be a threat to Vizag, reports said. |
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Major Ports register positive growth of 5.12 pc in H1
Exim News Service - New Delhi, Oct. 11 Top |
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The Major Ports have recorded a growth of 5.12 per cent and together handled 343.26 million tonnes of cargo during the period April to September 2018 as against 326.54 million tonnes during the corresponding period of the previous year. For the period from April 2017- September 2018, nine ports [Kolkata (incl. Haldia), Paradip, Visakhapatnam, Kamarajar, Chennai, Cochin, New Mangalore, JNPT and Deendayal] registered positive growth in traffic, informed a release. Cargo traffic handled at Major Ports The highest growth was registered by Kamarajar Port (19.66 per cent), followed by Cochin (11.51 per cent), Paradip (11.12 per cent), Haldia (10.07 per cent) and Deendayal (10.03 per cent). Kamarajar Port's growth was mainly due to increase in traffic of other misc. cargo by 39.77 per cent, other liquids (15.38 per cent), POL by 14.67 per cent, and thermal and steam coal by 11.34 per cent. During the period April to September 2018, Deendayal Port handled the highest volume of traffic, i.e. 58.63 million tonnes (17.08 per cent share), followed by Paradip with 52.90 million tonnes (15.41 per cent share), JNPT with 34.81 million tonnes (10.14 per cent share), Visakhapatnam with 31.76 million tonnes (9.25 per cent share) and Kolkata (incl. Haldia) with 29.97 million tonnes (8.73 per cent). Together, these five ports handled around 60.62 per cent of Major Port traffic. The commodity-wise percentage share of POL was maximum, i.e. 33.37 per cent, followed by container (20.99 per cent), thermal and steam coal (14.99 per cent), other misc. cargo (10.80 per cent), coking and other coal (7.71 per cent), iron ore and pellets (5.65 per cent), other liquid (4.33 per cent), finished fertiliser (0.98 per cent) and FRM (1.19 per cent), the release added. |
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Port volumes will get boost from huge demand in Energy sector : APSEZ CEO Karan Adani
Daily Shipping Times -Ahmedabad, October 11 Top |
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The energy sector is feeding a sizeable demand of both Major and Minor Ports, which can be gauged from the commodity mix of Adani Ports and Special Economic Zone (APSEZ), a good chunk of business generating from import and export of coal, crude and petroleum products. "Whether you take import or export, energy is one big growth area and as the Country keeps growing, the energy needs will increase whether it is coal, LNG, LPG or crude oil," Mr. Karan Adani, Chief Executive Officer (CEO), APSEZ, said recently. "We are expecting a huge growth in it," he said. APSEZ is an integration of three verticals consisting of ports, logistics and special economic zone. It has 10 ports and terminals - Mundra, Dahej, Kandla, and Hazira in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam in Andhra Pradesh, and Kattupalli and Ennore in Chennai - representing 24 per cent of India's total port capacity. Crude is always in demand and is mostly imported at India's West Coast, while coal is imported from the East Coast of the Country. In bulk commodities, coal is one of the most imported items, in liquid cargo it is crude and rest is the container traffic. On the company's expansion plan, Adani said it was developing a trans-shipment container terminal at Vizhinjam in Kerala and building LNG and LPG terminals at Mundra and Dhamra Ports, respectively. The business opportunity for the private sector in the maritime space would go a long way in achieving the Union Government's goal for the sector. A Government road map has been created for increasing the Indian port capacity to more than 3,500 million metric tonnes per annum (mmtpa), which would cater to the projected traffic of 2,500 mmtpa by 2025. For all the 12 Major Ports, master plans have been finalised - 112 port capacity expansion projects, costing Rs 696.36 billion have been identified for implementation over the next 20 years and are expected to add 780 mtpa to the capacities at Major Ports. According to official figures, the Major Ports in India have recorded a growth of 3.91% and together handled 174.02 mt of cargo during the period April to June, as against 167.48 million tonnes handled during the corresponding period of previous year. The highest growth was registered by Kamarajar Port (11.93%), followed by Kolkata, including Haldia (10.21%), Paradip (9%), Cochin 7.85%) and Visakhapatnam (7.24%). The Kamarajar Port growth was mainly due to an increase in other liquids by 29.63%, miscellaneous cargo by 15.06%, POL by 7.51% and thermal coal by 4.93%. Commodity-wise percentage share of POL was maximum i.e. 30.36%, followed by container (20.36%), thermal coal (16.26%), miscellaneous cargo (12.41%), coking and other coal (7.49%), iron ore and pellets (6.47%), other liquid (4.06%), finished fertiliser (1.42%), etc. |
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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 |
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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. |