Profitability of domestic steel mills improves

According to a recent report by leading credit rating agency ICRA, domestic steel prices have reported a healthy growth of 14% since June 2017, aided not only by a sharp recovery in international steel prices but also by an improvement in domestic demand growth to 4.4% in Apr-Aug 2017, from 2.6% in FY2017. Buoyant international steel prices have also benefitted Indian mills to increasingly tap overseas markets, as reflected in a 57% year-on-year growth in exports during Apr-Aug 2017, helping the domestic steel industry operate at a capacity utilisation of above…

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Maharastra contemplating subsidized solar power supply to cold chain units

In order to reduce the input cost of farmers and cold chains dealing with perishables, Maharashtra government is contemplating several measures including supplying subsidized solar power to the cold storage units. According to a recent news report, the state government is waiting for the final report from a high level committee headed by the executive director of Maharashtra State Agricultural Marketing Board. The report underlines that providing subsidized solar power is one of the key measures under consideration. The committee is expected to submit its report by the end of…

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Over 10 percent growth in exports

In continuation with the positive growth exhibited by exports for the last twelve months, exports during August 2017 have shown growth of 10.29 per cent in dollar terms valued at US $ 23818.83 million as compared to US $ 21597.09 million during August,2016. During August 2017, major commodity groups of export showing positive growth over the corresponding month of last year are: Engineering Goods (19.53%), Petroleum Products (36.56%), Organic & Inorganic Chemicals (32.41%), Drugs & Pharmaceuticals (4.21%), and RMG of all Textiles (0.56%) Cumulative value of exports for the period…

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State Transport Ministers to discuss seamless transport provisions

The 38th meeting of Transport Development Council and State Transport Ministers is scheduled to be held at Vadodara in Gujarat on the 19th September. Nitin Gadkari, Minister for Road Transport & Highways, Shipping and Water Resources, River Development & Ganga Rejuvenation said in a statement late last week that Transport Ministers of all states will come together in the day long meeting to discuss issues like public transport reforms, the status of Vahan and Sarathi sites under Transport National Register, Seamless Transport across state borders, identification of Black Spots, Digitalisation…

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Competition Commission imposes Rs 11 crore fine on ten transport companies

Unfair practices watchdog, Competition Commission of India, recently in an order imposed Rs 11 crore fine on ten transport companies. This was following a complaint filed by Western Coalfields alleging transport companies resorting to unfair practices. Western Coalfields Limited had earlier approached Competition Commission of India (Commission) alleging bid-rigging by SSV Coal Carriers Private Limited, Pravin Transport, Khandelwal Transport, Khandelwal Earth Movers, Khanduja Coal Transport Co., Punya Coal Road Lines, B. Himmatlal Agrawal, Punjab Transport Co. and Avaneesh Logistics Private Limited, upon noticing identical price quotes given by them in four…

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Petrol/diesel prices not market driven, says industry body

 Consumer is getting restive about a three year high in the petrol and diesel prices because the concept of market-determined rates was tampered with by frequent tax hikes when the crude oil prices fell steeply and are ruling at exactly half the level of USD 107 per barrel in  May, 2014 even after  rising in the last three months .    “It is true that the crude oil has shot up by about 18 per cent from USD 45.60 per barrel , taking the pump prices of petrol  in Delhi (for…

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Bombardier Forecast underlines strong growth for smaller aircrafts

Bombardier Commercial Aircraft last week released its 20-year Market Forecast for the 60- to 150-seat segment. According to this new 2017-2036 Market Forecast, the 60- to 150-seat seat segment will be a catalyst to further growth, market penetration and airline profitability. “The outlook for our markets is strong,” said Fred Cromer, President, Bombardier Commercial Aircraft. “We are the only manufacturer with a solution for any type of business model in the 60- to 150-seat segment, and we are well positioned to capture the value from the exciting opportunities outlined in…

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India’s tryst with bullet train begins today

Even as infrastructure experts have panned the NDA government for failing to curb railway accidents in the country, today marks a historic occasion when in the presence of Indian PM Narendra Modi and visitng Prime Minister of Japan, Shinzo Abe, the commencement of work for First High Speed Train Project (popularly referred as Bullet Train) between Mumbai- Ahmedabad will be flagged off. Briefing the media this Monday, the new railways minister Piyus Goyal gave the details of the project. “This bullet train is an endeavour to bring economic growth and…

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Retail, logistics to drive hiring growth

A recent survey by staffing company ManpowerGroup has underlined hiring being in a sluggish mode for the last three quarters. However, the scene is likely to improve from October-December quarter and here the key drivers would be – retail, logistics and e-commerce businesses. “In the coming quarter, the situation looks more promising owing to the festive season during which firms require additional staff to handle the spike in orders and deliveries. The demand is especially high for e-commerce companies, logistics, FMCG, hospitality, retail, supply chain, and transport,” A.G. Rao, group…

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Over Rs 10,000 crore Dairy Processing Fund

The Cabinet Committee on Economic Affairs recently approved a Dairy Processing & Infrastructure Development Fund” (DIDF) with an outlay of Rs 10,881 crore during the period from 2017-18 to 2028-29. The project will focus on building an efficient milk procurement system by setting up of chilling infrastructure & installation of electronic milk adulteration testing equipment, creation/modernization/expansion of processing infrastructure and manufacturing faculties for Value Added Products for the Milk Unions/ Milk Producer Companies. The project will be implemented by National Dairy Development Board (NDDB) and National Dairy Development Cooperation (NCDC)…

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