Railway initiates SFOORTI for freight optimization

In a major digital initiative to help plan the traffic flows and optimize freight operations, Ministry of Railways recently launched Smart Freight Operation Optimisation & Real Time Information (SFOORTI) App for Freight Managers which provides features for monitoring and managing freight business using Geographic Information System (GIS) views and dashboard. According to a ministry release, this app will offer a slew of features including Bird’s eye view of all freight assets in a single window, end to end rake movement on Geospatial view and also help in analyzing  expected Traffic at Interchange points to evaluate daily performance.…

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New roles emerging in supply chain, says Mercer survey

According to Mercer’s latest remuneration survey, companies across the board are expected to give a raise of 9-10 percent to their employees in 2018. The survey findings are based on response from 791 organizations across various industry sectors. An equally interesting component of the survey findings is the emphasis on emergence of new roles in the Hi-tech businesses and supply chain domains. “The Indian High Tech Market is undergoing a tremendous change and disruption, due to changing nature of jobs. New technologies like Artificial Intelligence, Machine Learning, Automation, Robotics, IoT have changed…

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Turnaround visible in textile and apparel exports

After four months of decline in 2017 – May,June, July and October- there are strong signs of a turnaround in textile and apparel exports. According to a recent data published by Directorate General of Commercial Intelligence and Statistics (DGCIS), Textile & Apparel (T&A) exports including handicraft exports registered a 20% increase in November, 2017 over October, 2017. The 20% overall increase in T&A exports is marked by an increase of 24% in readymade garments, 24% in cotton, 9% in man made textiles, 17% in silk products, 28% in handloom products,…

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India to outpace other emerging economies, says World Bank

India is likely to register the highest GDP growth rate in the world in the next fiscal. The 2018 Global Economics Prospect (GEP) released by the World Bank has projected India’s GDP growth in 2018-19 to pick up to 7.3% as against estimated 6.7 percent in 2017-18. The report further projects an overall growth rate of 7.5 percent in the next two financial years. The agency is hopeful of a new growth wave unfolding in India after the GST adjustment of the businesses. Meanwhile, the World Bank believes that there…

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Revenue growth projected for FMCG firms

According to a recent report by domestic brokerage firm ICICI Securities, companies in the fast moving consumer goods (FMCG) space are likely to register a revenue growth rate of 14.8 percent in December quarter. The optimistic projected cites improved consumer sentiment, and gradual rise in rural demand, for a spur in the FMCG sales growth. The revenue growth in September quarter had stood at 5.2 per cent. “We believe the acceleration in revenue growth is largely attributable to a pick-up in consumer sentiment, gradual demand pick-up in rural areas and also due…

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Railways launches new vendor registration system

In-line with the key objective of the government to make systems and procedures digital and transparent, Research Designs & Standards Organisation (RDSO), (headquartered at Lucknow),the research arm of Ministry of Railways, has launched “New Online Vender Registration System”. According to a government release, public access to the information, expeditious process completion with defined timelines, simplification of procedures, round-the-year services, availability of all related information on RDSO Website, constant monitoring at all levels, reduction in cycle timelines, regular updation of online data, user friendly interface etc. are the hallmarks of the new system. RDSO…

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AYUSH products exports inch close to $250 million

The export of Ayurvedic products from the country has displayed a rising trajectory and according to a government estimate, it had shot up close to $250 million at the end of the last fiscal. The Ayurvedic products sales in the overseas markets take place under the Indian Trade Classification based on Harmonized System of Coding (ITCHS) through two HS codes-30039011 for medicants and 30049011 for medicaments.  As such individual Ayurvedic products are not given separate HS codes to track the top Ayurvedic drugs being exported. Export of above two categories…

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After 21 years, Indian PM to address World Economic Forum

The Annual Meeting 2018 of the World Economic Forum will be held from 23-26 January 2018 at Davos in Switzerland with the theme of ‘Creating a Shared Future in a Fractured World’. Prime Minister, Narendra Modi will be participating in the Annual Meeting. He will be the first Prime Minister to attend the Annual Meeting of the Forum since 1997. The Annual Meeting will be attended by 350 political leaders (among them over 60 heads of state or government), the chairs and chief executive officers of the world’s most important…

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Yogi government to announce a dedicated Logistics Policy

After Andhra Pradesh and Telangana, Uttar Pradesh is set to become third state in the country to adopt a dedicated logistics policy. According to a recent report by a leading national daily, the state government is drafting a logistics policy to supplement a major push to industrial activities in the state. “With both the eastern and the western freight corridors and several industrial corridors passing through Uttar Pradesh, we are at a good position to take advantage of this logistics revolution which we expect to be seen in the next…

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Core industries grow by a modest margin in November

The combined index of eight core industries stood at 123.9 in November, 2017, which was 6.8 per cent higher as compared to the index of November, 2016. Its cumulative growth during April to November, 2017-18 was 3.9 per cent. Coal production (weight: 10.33 per cent) declined by 0.2 per cent whereas crude oil production grew by the same margin in the given month.           The Natural Gas production went up by 2.4 per and refinery products grew by a modest margin of 8.2 per cent. Steel production, however, displayed robust growth pattern with 16.6 per cent…

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