E-Way bill amendments to benefit courier companies

The Central Board of Excise and Customs (CBEC) recently released a revised draft policy on the generation of e-way bills on March 07, 2018 which incorporates certain amendments in E-Way bills. According to credit rating agency ICRA, the amendments will significantly address concerns of e-commerce logistics companies, courier/express cargo companies and less than truck load (LTL) operators. Says Subrata Ray, Senior Group Vice President, ICRA, “The modified E-Way bill will benefit small businesses that operate on intra-state basis and transporters that follow a hub and spoke model for operations, such as the…

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ADB $120 million credit line to improve rail infrastructure

Government of India and the Asian Development Bank (ADB) recently signed a $120 million loan agreement for completion of works for double-tracking and electrification of railways tracks along high-density corridors to improve operational efficiency of Indian railways. This is the part of the $500 million multi-tranche financing facility for Railway Sector Investment Program approved by the ADB Board in 2011. The loan amount will be used to complete the ongoing works commenced under earlier tranches. The investment programme is targeting busy freight and passenger routes in the states of Chhattisgarh,…

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Exports register over 4 percent growth in February

Exports during February 2018 have exhibited positive growth of 4.48 per cent in dollar terms vis-à-vis the corresponding month last year. Exports have been on a positive trajectory since August 2016 to February 2018 except for a temporary setback in October 2017. Exports during February 2018 were valued at US$ 25834.36million as compared to US$ 24726.71 million during February 2017.   During the course of the month, major commodity groups of export showing positive growth included Petroleum Products (27.44%), Organic & Inorganic Chemicals (30.41%), Drugs & Pharmaceuticals (13.92%), Rice (21.29%) & Electronic…

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DPR being prepared for intermodal stations in 15 cities

The government is planning to build Intermodal Stations in fifteen cities of the country. Nagpur and Varanasi have been taken of as pilot cities for development.  Currently the DPR is in progress for these cities. The other cities are Delhi, Jaipur, Mumbai, Pune, Bangaluru, Madurai, Chennai, Hyderabad, Amaravati, Vishakapatnam, Bhubaneshwar, Kolkata and Guwahati. The Inter-Modal Stations are proposed to be developed through Special Purpose Vehicle (SPV) to be established amongst between Ministry of Road Transport and Highways, Ministry of Railways and respective State Governments.  Members of SPV shall provide land…

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Indian tea exports reaches close to its record high

Indian tea exports touched a record high in 36 years at 240.68 million kgs in the year 2017. The previous high of 241.3 million kgs was registered in the year 1981.  Indian teas were exported at an average price of more than three dollar per kg in 2017 mainly to 12 countries. In quantity terms, Iran was the biggest importer of Indian tea (28.05 million tonnes), followed by the UAE (over 18 million tonnes), the UK (close to 16 million tonnes) and the US (14.09 million tonnes). But the countries…

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