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Policy & Economy News |
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Sailing towards growth: PM's vision of port-led industrialisation will help India become a $5 trillion economy by 2025 Shared economy in India to be $2 billion industry by 2020-end: Maple Capital |
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Business News - The India Boom Factor |
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Beginning of a new chapter in India-US ties: PM Modi Hamriyah Free Zone woos exporters from Kerala to UAE India plans to raise coal imports from US Exports from SEZs touch $ 100-bn mark before fiscal-end Increased export of sugar seen After Trump's India visit, Oil and gas imports from United States set to increase |
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Shipping News |
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HMM joins THE Alliance's three-loop Asia-Middle East network Operational incentive for coastal shipping enhanced Trial run for transporting goods from Kolkata to Agartala via Chittagong to start soon |
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Logistics News |
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'Retail opportunities at transport hubs may grow to $21.6 b by 2030' Russia's RZD, Concor ink pact for faster movement of cargo via INSC DFC initiates study for setting up of 'Multi Modal Logistic Parks | ||
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Indian Port News |
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No PSIC required for metallic scrap import at Kattupalli Port from safe countries: DGFT JNPT Achieves Significant Improvement In Import Dwell Time India plans to lease out 9,035 acres of port land in Mumbai, Kolkata & Gujarat |
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Policy & Economy News |
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Sailing towards growth: PM's vision of port-led industrialisation will help India become a $5 trillion economy by 2025 India Seatrade News - February 27 Top |
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Seaports are gateways of international trade and play a crucial role in a nation's economy. Aiming for a sustained growth in India's trade and commerce in consonance with the PM's mantra of 'ports for prosperity', major initiatives are being taking by the ministry of shipping to promote ports sector in India. Rs 100 lakh crore (Rs.100 trillion) has been envisaged for infrastructure development investment over the next five years. The port sector is optimistic to witness a rapid growth, which will increase capacity substantially. Port and port-led industrialisation being two facets of the same coin, the ministry of shipping is following an approach focused on development of port infrastructure and capacity enhancement, and development of multi-modal hubs to promote EXIM trade by reducing logistics costs and time for cargo transportation. Only two major ports, namely Jawahar Lal Nehru Port Trust (1989) and Ennore (Kamrajar) Port (1999), and nine minor ports by state governments have been developed in the last 30 years. While the ports in the country are able to handle the largest sea-going vessels/ships in the world for liquid cargo, including POL and bulk cargo, there is an inadequacy in India's ability to handle and receive ever-increasing large containerised ships. This can be attributed to non-availability of deep draft ports. The two largest container ports of the country, JNPT and Mundra, have drafts of 15m and 16m, respectively, whereas the world's largest container-handling modern deep draft ports required a draft of at least 18-20m. There is no scope of further expansion of JN Port. Moreover, JN Port's containers-handling capacity will also peak at 10.1 M TEUs (mid-size container vessels). The long felt need for a modern deep draft port on the western coast will be fulfilled with the development of a new major port at Vadhavan, at a total cost of Rs 65,544 crore (Rs.655.4 billion). Vadhavan is located about 190 km north of JN port and has a deep draft of about 20m close to shore, which makes it appropriate for handling bigger vessels. In fact, it is one of the best sites for a deep draft port on the entire west coast. The port site at Vadhavan has an 18m draft naturally available, and a 20m navigational channel also naturally available, obviating the need for any capital and maintenance dredging. Minimal need for maintenance drudging gives it a cost advantage over other neighbouring ports, including the JN Port. Further, the development of the port will be 'environment friendly'. It is being developed in a manner that 65 acres of mangroves around the port area are not harmed. 'No land acquisition' and 'no displacement' are noteworthy steps. More important, it will lead to vast development and total face-lift of the tribal belt area in the vicinity of the port. Vadhavan Port has a significant potential to serve the vast hinterland with its huge cargo generating potential. Presently, 70% of the total container traffic volume is provided by this geographical area. The excellent road and rail connectivity, with linkage to a dedicated freight corridor, NH-8, Delhi-Mumbai Expressway & Railway, and their proximity to the port site will give a big boost to industrialisation and development. The development of Vadhavan Port is going to be a game changer in times to come. The development is opening up a plethora of opportunities for India to become among the world's top 10 countries where container ports are concerned. It is not only going to boost the industry but also going to create a lot of job opportunities in nearby areas, enhancing international trade substantially, and yielding enormous benefits of economy of scale. It is also envisaged that the demand-supply mismatch, i.e, the shortage of container handling capacity in the west coast ports, will also be satisfactorily addressed by 2025. No doubt, it is a giant step towards the Modi government's vision of"port-led industrialisation", and the concept will help India become a $5-trillion economy by 2025.. |
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Shared economy in India to be $2 billion industry by 2020-end: Maple Capital Press Trust of India - February 27 Top |
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Shared economy in India is poised to become a $2 billion industry by the end of the year, a report by Maple Capital Advisors said on Thursday.
Also, such services attracted about $3.5 billion worth of private equity, and $262 million in mergers and acquisitions (M&A) between 2015-19, the report titled 'Shared Economy - India Story' said. The sector, predominantly driven by shared mobility, co-working, co-living and furniture rentals, is pegged to be an about USD 2 billion industry in the organised-end and growing in double digits, it said. In 2019, the segment was estimated to be about $1.5 billion in size in India. Shared economy includes segments like co-working (Awfis, WeWork India), co-living (Stanza Living, OYO Life, Oxford Caps), shared mobility (Uber, Ola, Shuttl) and furniture rental (Furlenco, Rentomojo.) "High mobile penetration, high millennial concentration, and an aspirational population, Asia has highest willingness to use shared assets. India mirrors Asia trends in these aspects and is thus, poised for high growth and adoption of shared services," it added. Maple Capital Advisors Managing Director Pankaj Karna said India is at the cusp of a shared economy revolution. "We are already witnessing phenomenal growth in this segment with both international companies and home-grown start-ups vying for market share. Even as the space is nascent over USD 3.7 billion has been invested in this space," he said. Karna added that this is expected to accelerate on the back of compelling demand and unit economics. | ||
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Business News - The India Boom Factor |
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Beginning of a new chapter in India-US ties: PM Modi
IBEF - February 25 Top |
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Prime Minister of India, Mr Narendra Modi said that US President Mr Donald Trump's maiden visit to India marks the start of a new chapter in India-US ties. Mr Modi, who welcomed the US President and first lady Ms Melania Trump in a packed stadium of more than 100,000 people for the 'Namaste Trump' event in Ahmedabad, spoke about the efforts made by the Trump administration to bring the two countries closer. "This visit by President Trump will start a new chapter in the relations between India and America, which will bring progress and prosperity to the people of the two countries. India-US relations are no longer just another partnership. It is a far greater and closer relationship," he said. This two-day state visit comes ahead of President Trump's re-election bid the US votes in November and just months after the prime minister's"Howdy, Modi!" show in Texas last year. This visit also comes amid the intense trade talks between the two countries. Mr Modi said he appreciated the fact that Trump and his family had flown down all the way to Ahmedabad to start their India journey. Trump's visit was history being repeated, he said in reference to the Howdy, Modi! event. The prime minister lauded India-US relations and said unity and vibrancy in diversity form the basis for the strong ties. The focus on the similar ideas and values that the two countries share, the spirit of enterprise and innovation and shared opportunities, challenges, hopes and aspirations. According to Mr Modi, the US is the land of the free and India considers the whole world to be one family. India is proud of the Statue of Liberty while the other country is proud of the world's tallest statue, Sardar Patel's Statue of Unity."Not just in the Indo-Pacific region, India can play a strong role in peace, progress and security of the entire world. I believe President Trump's visit in the beginning of this new decade is a huge opportunity for us," Mr Modi said. He further added that the US is a strategic partner for growth while the country is India's largest trading partner. He added that the India has largest number of war games with the US as well as the most exhaustive research and development partnership that India enjoys is also with it. Mr Modi said amid the loud cheers in the stadium, that India is not only making a world record in the number of satellites being sent from the country but also creating a world record of the fastest financial inclusion programme. The country is maintaining pace in setting up not just the world's largest cricket stadium in Motera but also managing to run the biggest global health insurance scheme, Ayushmann Bharat, he said. The prime minister added that the 1.3 billion Indians are creating a new India, with the US its strategic partner in this growth story in areas including IT, defence, health, and energy. "In the new decade of this 21st century, the new India is also bringing many opportunities for resurgent America. There is a lot to gain in development aspects for both the countries. Expansion in manufacturing and infrastructure will bring new avenues for America. India's digital economy will provide good space for US to invest in India," he said. Mr Modi added that India and the US are natural partners which can work together toward digital cooperation, economic partnership and in maintaining peace and security by taking a strong stand against terrorism. |
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Hamriyah Free Zone woos exporters from Kerala to UAE India Seatrade News - February 26 Top |
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Federation of Indian Export Organisations, Kerala Chapter jointly with Hamriyah Free Zone Authority has organised a seminar on the opportunities available in UAE for exporters. Speaking on the occasion, Ali Al Jarwan, Deputy Executive Director, Hamriyah Free Zone, said India has emerged the third largest trading partner of UAE after China and the US and the trade between two countries has touched $60 billion today compared to $180 million in the 70s. Moreover, UAE is the second largest export destination of India. For UAE, India is the largest trading partner. With this strong bilateral trade opportunities, both the countries are looking forward to see higher growth in the coming years, he said. Free zones provided a congenial environment for the acceleration of economic development in UAE. Following the emergence of UAE as a major re-export centre, Indian companies have emerged important investors in the free trade zones such as Hamriyah free trade zone, he added. |
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India plans to raise coal imports from US Daily Shipping Times - New Delhi, February 27 Top |
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In what could deepen Indo-US bilateral energy partnership, New Delhi is planning to increase import of coal from the US. India has a shortage of coking coal, used for steel production."We are having business and policy-level interactions for long-term engagement with the US for sourcing coking coal," Steel and Petroleum Minister Dharmendra Pradhan said here. Given India's plan to raise domestic steel output from the current level of 140 million tonne (MT) to 300 MT by 2030, the requirement of coking coal is seen to rise 190% to 175 MT. American oil supplies to India have jumped ten-fold to 2,50,000 barrels per day (bpd) in the last two-three years. Speaking at a business meeting alongside US President Donald Trump, US energy Secretary Dan Brouillette said India imported just 25,000 barrels a day of crude oil from the United States in 2017 |
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Exports from SEZs touch $ 100-bn mark before fiscal-end Exim News Service - New Delhi, Feb. 23 Top |
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Number of operational SEZs grow to 241 Special Economic Zones (SEZs) continue to take the lead in expanding India's exports. Even in the midst of a volatile global economy, SEZs in the country have shown resilience and have achieved $100 billion worth of exports in 2019-20 as on February 17, 2020. In 2018-19, SEZs had achieved this landmark for the full financial year, said a release. A comparison of FY 2019-20 and 2018-19 up to February 17 is given in the table.  It is observed that while the services segment, constituting majorly of IT and ITeS services, was driver of the export growth at 23.69 per cent, there was almost 4 per cent growth in the manufacturing segment also. This reflects the overall expansion and interest in SEZs in the country. Besides, the number of operational SEZs has grown to 241 as against 235 at the end of 2018-19, the release said. The sectors that saw healthy growth in this financial year include gems and jewellery (13.3 per cent), trading and logistics (35 per cent), leather and footwear (15 per cent), non-conventional energy (47 per cent), and textiles and garments (17.6 per cent). Petrochemicals constitute a major segment of SEZ exports; however, growth was muted in this segment, which may be attributed to softening global crude prices, the release added. |
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Increased export of sugar seen Exim News Service - New Delhi, Feb. 25 Top |
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Due to higher demand from overseas amid a global deficit of 8-9 million tonnes, India's sugar export may cross 5 million tonnes in the marketing year ending September. Indian sugar exports may get accelerated in the coming months and could achieve more than 5 million tonnes of minimum admissible export quota (MAEQ) in the whole season, said Indian Sugar Mills Association (ISMA) in a statement. As of now, about 1.6 million tonnes of sugar have been exported and about 3.2 million tonnes of contracts have been signed for exports, said a report. Some sugar mills are not planning to export against their allocated quotas. A few of them have surrendered a part of their MAEQ to the government. The government will be reallocating the export quotas of mills that were not able to undertake shipments, the report added. |
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After Trump's India visit, Oil and gas imports from United States set to increase Economic Times - New Delhi, February 26 Top |
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Energy cooperation is emerging as a key pillar of Indo-US strategic partnership that has the potential to surpass bilateral defence agreements. President Donald Trump's visit saw the conclusion of a pact for the supply of US gas to India.
Petroleum minister Dharmendra Pradhan described the energy ties as multifaceted, as India and the US signed the deal for strengthening collaboration between Indian Oil Corporation, Exxon and Chart Industries for supplying liquefied natural gas.
The agreement will promote access to gas in areas where the current pipeline infrastructure has not been developed. Till the time that gas pipeline network is developed in the country transportation of gas through container is an efficient alternative. Exxon and Chart have expertise in transporting gas through containers and the agreement will give India expertise and facilities for transporting clean and efficient access to gas to areas yet to be connected through pipeline network. "We jointly reviewed the ongoing strategic energy partnership between our two countries and agreed to take it to the next level," Pradhan tweeted after meeting US energy secretary Dan Brouillette."Our energy equation with the US is now a multifaceted one - the Strategic Energy Partnership, established in 2018, has provided an effective institutional structure to align our interests, expectations and synergies. This is evident from the fact that the energy trade touched $7.7 billion last year - this intensity of energy exchange is a story of the last two years. There is much potential for further capital, technology and innovation infusion to develop better ecosystems in both countries. We see the relations only growing more robust and one that will be capable of withstanding the test of time," Pradhan said. In 2019, India increased its intake of oil from the US to about 1,84,000 barrels per day, four times more than in 2018, and up from zero imports just four years ago. India's energy imports from the US would reach $10 billion this year.US trade deficit with India declined from more than $22 billion in 2016-17 to around $17 billion in 2018-19 as India started importing oil and gas from America. In 2018-19, India's crude import from the US stood at $3.6 billion and LNG import was at $527.14 million. In April-December 2019, India imported crude and LNG worth $3.7 billion and $576.28 million, respectively, from the United States, making it the sixth largest supplier of crude oil, and the fifth largest supplier of LNG, to India. Currently, the US-India Energy Strategic Partnership has four pillars - oil and gas; power and energy efficiency; clean and renewable energy and sustainable growth. |
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Shipping News |
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HMM joins THE Alliance's three-loop Asia-Middle East network
India Seatrade News - February 25 Top |
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HMM has muscled its way into THE Alliance's Asia-Middle East offering in the newly launched network. However, the South Korean carrier has still not decided to participate in THEA's transatlantic network, after it pulled out of its slot charter deal with the 2M in May 2018, following months of heavy losses and being obliged to compensate Maersk and MSC for the 700 slots a week deal. When THE Alliance published its expanded network details on 16 January, its new offering including the participation of HMM as a full member from 1 April, and the Asia-Middle East loops had yet to be finally agreed between the carriers. In the interim, THE Alliance published its single AR1 loop with an itinerary of: Busan, Shanghai, Ningbo, Shekou, Singapore, Port Kelang, Jeddah, Aquaba, Sokhna, Jeddah, Singapore and back to Busan. "HMM will not participate on the AR1," noted the release. Today's announcement from the four partners, Hapag-Lloyd, HMM, ONE and Yang Ming, said:"THE Alliance will introduce three newly organised express loops from early April, and these services will provide high-frequency, direct and expanded coverage, and the fastest connection from the respective regions." The revised network consists of three loops: AG1 - Ningbo, Kaohsiung, Xiamen, Shekou, Singapore, Jebel Ali, Damman, Hamad, Sohar, Singapore and then back to Ningbo; AG2 - Shanghai, Ningbo, Shekou, Port Kelang, Jebel Ali, Hamad, Umm Qasar, Jebel Ali, Singapore and Shanghai; AG3 - Qingdao, Busan, Shanghai, Jebel Ali, Damman, Jubail, Abu Dhabi, Port Kelang, Singapore, Hong Kong and Qingdao. The 2M is the only alliance not to have announced network adjustments from 1 April, partly due to its tie-up with South Korea's SM Line on the transpacific, but also due to the coronavirus in China, which has thrown a spanner in the network discussions. Meanwhile, HMM is preparing to phase-in its 12 24,000 teu scrubber-fitted ULCVs on THE Alliance's FE4 Asia-North Europe loop, as they are delivered from the South Korean yards. And the industry is abuzz with rumours that both Hapag-Lloyd and ONE will shortly announce confirmed orders for a number of these new-normal 24,000 teu ships. |
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Operational incentive for coastal shipping enhanced
India Seatrade News - February 25 Top |
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The operational incentive for vessel operators has been enhanced by the government as part of promoting coastal shipping in the State.
The operational incentive will be 50% of the road transportation cost per loaded containers of 20 feet and will be applicable to the ports of Kollam, Beypore and Azhikkal at the rates prevalent in Cochin port and Vallarpadam container terminal. The reference rates will be those decided by the respective Port authorities. An enhanced operational incentive of 30% to be above rates will be applicable to the 40 feet containers. The decision to enhance the operational incentive is based on the recommendations by a committee that was asked by the government to look into the suggestions of Director of the Ports and the proposal given by the Chief Executive Officer, Kerala Maritime Board. While setting up the committee to look into the proposals, the government was of the view that a State policy could not be formulated without scientific study. Review The revised operational incentive has been notified and government will review the impact and effectiveness of the scheme after six months, sources said. The Kerala Maritime Board had been asked to do scientific study on the incentives to be given to promote coastal shipping services in the State and to submit report in three months. The incentives are to be disbursed and settled every fortnightly and should be released after adjusting any port charges due from operator. The amount of port charges so adjusted and due to the Kerala Maritime Board will be reimbursed to them. Operating procedure The government has also asked the maritime board to prepare and implement a standard operating procedure for enhancing port productivity and reducing the turnaround time of vessels at the ports. In 2013, the government had come up with an incentive of Rs1 per metric tone/km for cargoes and Rs1 per passenger km for one year for travel between the ports for the promotion of coastal shipping. Subsequently, the scheme was extended till March 2018 and it was enhanced to Rs 3 per ton/km from April 2018 to March 2019. |
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Trial run for transporting goods from Kolkata to Agartala via Chittagong to start soon
India Seatrade News - February 26 Top |
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If everything goes as planned, a trial run for transporting goods from Kolkata to Agartala via Chittagong port in Bangladesh would be carried out by March. Initially, transport of goods from Kolkata to Agartala would commence through the Agartala Integrated Checkpost (ICP) and Srimantapur LCS (land custom station). As per plan, ships carrying goods will leave the Kolkata port for Chittagong and from Chittagong, the goods will move towards Agartala or Srimantapur. Sources said goods will be coming from Kolkata to Agartala via Chittagong port till the Feni Bridge in south Tripura's Sabroom subdivision is made operational. A high-level team of the Union ministry of shipping has already visited Agartala ICP and Srimantapur LCS to assess the facilities for transport of goods. During the visit, they met Transport Secretary L Darlong and informed him about the Centre's plan. Meanwhile, the Land Ports Authority of India (LPAI) has already taken up the Srimantapur LCS to convert it into a full-fledged ICP. If the trial run is conducted successfully, then traders would be allowed to bring goods from Kolkata via Chittagong port as its distance will be only 600 km. |
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Logistics News |
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'Retail opportunities at transport hubs may grow to $21.6 b by 2030' India Seatrade News - February 26 Top |
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Retail opportunities at transport hubs like airports, railways, metro, highways are expected to grow to $21.6 billion by 2030, according to a survey by property consultant Knight Frank.
According to the survey, this growth is attributable to a healthy growth in passenger traffic as well as transport infrastructure in the country. It noted that the total retail opportunity across various transport hubs in India, such as airports, highways and bus stations, metro and railways, will grow manifold in the new decade. Transit retail "India is going through an infrastructure revolution. The government's focus on developing and modernising the transport modes including airports, railway stations, metro and highways is opening up unprecedented opportunities for the organised retail segment in the country," Knight Frank India Chairman and MD Shishir Baijal said. The survey said the current size of transit retail in India is estimated at $2.2 billion, and is expected to grow to $21.6 billion by 2030. "While the retailing potential is best tapped at airports, it is still at a nascent stage for other modes like metros, railways, highways and bus stations. A large part of the retail opportunity at transit hubs is currently untapped due to lack of retail infrastructure at these nodes," the survey noted. The large retail potential translates into lease rental opportunity of $1 billion, which is estimated to grow to $3.2 billion by 2030. "Considering the current lease rent opportunity, the government can potentially monetise these transit-oriented retail assets to generate funding to the tune of $10 billion. Such monetisation will reduce dependencies on passenger tariffs and develop the retail eco-system for a largely unexplored territory. This will also open a new revenue stream for future infrastructure developments," Baijal said. He further said the development of retail infrastructure at key transportation nodes through a public private partnership has presented huge opportunities to operators and retailers to monetise the potential of guaranteed footfalls with 'wait time'. "In India, retail real estate growth has by far been most sensitive to domestic and global conditions. With organised retail still only a fraction of the total retail market in India, which has the largest population base, there is ample scope of growth in the country," Baijal noted. Most of the organised retail growth in India so far has been based out of mall developments with sales heavily dependent on footfalls and conversions thereafter. However, the advent of transit retail will provide retailers with captive audience that is willing to spend."Having said this, the transport hubs will have to create appropriate space with prominence and visibility, smart revenue models and correct product mix to ensure that retailers see value in their presence in a transport hub," he added. Metro network According to the report, the proposed metro network and mega transformation of Indian railways opens up $7.5-billion retail opportunityby 2030. India is expected to see 1,000 km of metro development that opens opportunity for retailing to the tune of $5.6 billion by 2030. There are about 500 metro stations across India with an estimated retail market size of $0.6 billion as of 2019. Similarly, based on the commercial potential of the 400 redeveloped railway stations across India, it is estimated that the annual passenger traffic will increase to 18.2 billion by 2030, translating into a retail opportunity of $1.9 billion by the year from $0.1 billion in 2019. |
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Russia's RZD, Concor ink pact for faster movement of cargo via INSC India Seatrade News - February 26 Top |
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Container cargo between India and Russia on railway will now move some 15-20 days faster through the international"north-south" corridor as India's Container Corporation of India (Concor) and Russian Railways Logistics Joint Stock Company (RZD) signed the service agreement to operationalise their commercial understanding on Tuesday. "Maybe Indian onions will be able to reach faster to St Petersburg, Moscow and all. I met Indian diaspora in Russia and they said Indian onion has a lot if demand there. But since the cargo takes so mich time, it can't reach there now," V Kalyana Rama, Managing Director, Concor, said. Container consignment currently takes 45-50 days to cover between India and Russia. However, the International North South Corridor (INSC) will enable the cargo to reach between 25-30 days. |
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DFC initiates study for setting up of 'Multi Modal Logistic Parks' Daily Shipping Times - New Delhi, February 25 Top |
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Kanpur in Uttar Pradesh and Nilje in Thane district may be developed as the first major nodes where"Multi-Modal Logistic Parks" could be set-up along the ambitious Eastern and Western Dedicated Freight Corridors respectively to give an impetus to rail and highways linkages for transportation of goods, create avenues for infrastructure development, value addition and employment. Dedicated Freight Corridor Corporation of India Limited is likely to appoint a consultant by April to carry out a feasibility study and prepare a detailed project report on these two nodes. As per DFCCIL, the objective of developing these nodes is to provide end to end logistics solution - mapping of potential customers for each location - the prospective industry, the future and current market potential and traffic projections; product/service delivery and infrastructure gap assessment in a radius of 100 km around the proposed node. Besides, 34 points along these corridors like Palanpur, Mehsana, Rewari, Karchana (Prayagraj) and Gothangam (Surat) have been also been identified as potential nodes. DFCCIL is planning to float an express of interest by end of this month for those keen to invest in such projects. According to DFCCIL, Managing Director Anurag Sachan, the freight corridors once fully operational are pitched to take off 70% of freight load in the form of goods trains from the passenger network along these sectors. This he said is the minimum and if railways at some point plans to shift the remaining goods freight traffic as well, the DFCs are equipped for that. |
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Indian Port News |
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No PSIC required for metallic scrap import at Kattupalli Port from safe countries: DGFT Daily Shipping Time - New Delhi, February 26 Top |
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DFGT has included Kattupalli Port in the list of sea ports where pre-shipment inspection certificate (PSIC) will not be required for importing metallic scrap from safe countries. According to a public notice of the Directorate-General of Foreign Trade (DGFT),"import of metallic scrap from safe countries/regions without PSIC can now be facilitated through Kattupalli Port (in Chennai) as well". DGFT is an arm of the Commerce Ministry which deals with export and import related matters. The safe countries include the US, the UK, Canada, New Zealand, and Australia, besides the European Union. It said import consignments of metallic waste and scrap shall be subject to PSIC from the Country of Origin. "However, metallic waste and scrap (both shredded and unshredded) imported from safe countries/region will not require PSIC if consignments are cleared through the eight ports," it added. The other ports are Chennai, Tuticorin, Deendayal, JNPT, Mumbai, Krishnapatnam and Mundra |
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JNPT Achieves Significant Improvement In Import Dwell Time Business World - February 28 Top |
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Jawaharlal Nehru Port Trust (JNPT) has achieved significant improvement in overall dwell time, especially the import dwell time which has reduced from 55 hours in 2018-19 to 37 hours in 2019-20. Besides, the road dwell time has seen a reduction of 33 per cent and in rail by 45 per cent, said Chairman Sanjay Sethi. "These results have been achieved due to the consistent efforts by the port through three-pronged approach -- improvement of infrastructure, simplification of processes and digitisation of activities," he said in a statement. Sethi said JNPT has been credited for India improving its ranking in the World Bank's Ease of Doing Business Index, under the 'trading across borders' segment to 68th position from 146 in a span of two years. "JNPT introduced direct port delivery and direct port entry facilities with the objective of expediting delivery of import and export containers and reduce the cost of transaction," he said. The port has also introduced inter-terminal movement of tractor-trailers which saves a significant amount of time and cost for the import-export community. Sethi said JNPT has roped in Zinka Logistics Solutions to operate transport solutions with the e-market platform. This helps in eliminating inefficiencies by reducing empty trailer movements between port and container freight stations, reduce empty container movements in the hinterland, cut truck idling time for fleet owners and ensure trucks availability to trade. "With measures such as these, JNPT is foraying ahead to become a gateway port of south Asia and navigating its energies in achieving the government's vision to transform JNPT into one amongst the best port globally," said Sethi. JNPT at Navi Mumbai is the biggest container handling port in India accounting for 52 per cent of the total containerised cargo volume. Ranked 28th among the top 100 container ports globally, it is connected to over 200 ports in the world. |
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India plans to lease out 9,035 acres of port land in Mumbai, Kolkata & Gujarat Indian Transport & Logistics News - February 28 Top |
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In order to generate additional revenue, the Indian government led by Prime Minister Narendra Modi is planning to lease out around 9000 acres of port land in Mumbai, Kolkata & Gujarat to private companies. "In the last week of January, the ministry of shipping made a presentation in this regard before the Prime Minister's Office (PMO). The ministry is now readying the cabinet note to get the policy approved," reported The Print. The land now belongs to Mumbai Port Trust (625 acres), Kolkata Port Trust (1,490 acres) and Deendayal Port Trust (6,920 acres). While the government is planning for long term leases, the government want private players to build residential and commercial infrastructure in this land which will be a great relief for space-crunched cities like Mumbai. |
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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. |