Over 600 global buyers to participate in Indusfood- II 2019 

The Dhaka based India-Bangladesh Chamber of Commerce (IBCCI) will participate with a strong contingent of F&B buyers in Indusfood-II 2019 to source their food and beverage requirements from India. Abdul Matlub Ahmad, President-IBCCI and former President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) made this announcement following discussions with Ashok Sethi, Director-Trade Promotion Council of India (TPCI), at NitolBhaban, in Mohakhali, Dhaka recently. TPCI is working to attract maximum buyers from the SAARC countries to source their food and beverage related requirements from India. Some of…

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Multiple opening for logistics professionals with Balmer Lawrie

Balmer Lawrie is hiring professionals from logistics space for the following positions: Branch In-Charge ( Freight Forwarding, Deputy Manager (Operations) Freight Forwarding, Assistant Manager (Operations) Container Freight Station, etc. For details and to apply, log on to careers at: www.balmerlawrie.com/pages/currentopening. Last date of CV submission: 29th September, 2019

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Major Ports report over 5 percent growth in cargo volume

The major ports in India have recorded a growth of 5.13% during the first five months of the current fiscal. On a cumulative basis, the major ports handled 288.38 million tonnes of cargo during the period April to August, 2018 as against 274.32 million tonnes handled during the corresponding period of previous year. For the period from April-August 2018, nine Ports Kolkata (incl. Haldia), Paradip, Visakhapatnam, Kamarajar, Chennai, Cochin, New Mangalore, JNPT and Deendayal have registered positive growth in traffic. The highest growth was registered by Kamarajar Port (17.24%), followed by…

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Govt e-marketplace to touch $100 billion transaction

The government is expecting a significant jump in the transactions on its eMarketplace (GeM) platform which was launched two years back and has crossed Rs 10,000 crore mark in transactions. On the occasion of the launch of the National Mission on Government eMarketplace (GeM) recently, Union Commerce & Industry Minister said that in the next three years, transactions on GeM will reach USD 100 billion. The mission has been created to bring more self-help groups, artisans and start-ups on this platform and for this, the central and state governments alongwith Banks…

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Gadkari to flag off major infrastructure projects in Chhattisgarh

The Minister for Road Transport & Highways, Shipping Nitin Gadkari will lay the foundation stone and dedicate to the nation various National Highways projects worth Rs 4239 crore in Chhattisgarh on 10th September. Chief Minister of the state Dr Raman Singh will preside over the functions. The Minister will lay the foundation stone of 92 kilometre Raipur – Durg Bypass on NH 53 which will cost Rs 2281 crore, while four flyovers on this section will be built at the cost of Rs 349 crore. Gadkari will also dedicate to…

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Fadnavis aiming to make Maharastra leading logistics hub

Speaking at a function in Mumbai recently, Maharashtra Chief Minister Devendra Fadnavis emphasized that his government is working on a plan to make the state topmost logistics hub in the country. Exuding confidence, Fadnavis added that Maharastra is poised to reap maximum benefits to attain the larger objective of becoming a key logistics hub following as GST introduction has made the country an integrated market. “We have also been investing to help the logistics sector and I want Maharashtra to be the logistics hub of India,” he said. Fadnavis cited…

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Investment Corporation’s supplychain wing to operate globally

The Investment Corporation of Dubai, the principal investment arm of the Government of Dubai has launched ISS Global Forwarding, a wholly-owned subsidiary focused on supply chain logistics. The establishment of ISS Global Forwarding is the result of a strategic directive by the Government of Dubai to separate Inchcape Shipping Services Holding , into two standalone companies with the aim of optimising the growth potential, customer focus and core competencies of each, being marine services & supply chain logistics. Headquartered in Dubai and operating out of the Dubai Airport Free Zone,…

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Centrum buys out L&T Finance supplychain business

The NBFC arm of Centrum Group, Centrum Financial Services has acquired the supply chain business of L&T Finance. The venture previously owned by L&T Finance is dedicated to mainly provide loans to companies to large-scale manufacturing firms and OEMs. Earlier this June, Centrum Financial Services had floated its own supply chain lending vertical and now with the acquisition of L &T Finance unit, the size of its business grows manifold. With the acquisition, Centrum is expecting a loan portfolio of Rs 900 crore to the suppluchain businesses by the end…

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GreyOrange receives biggest single round funding in industrial automation

GreyOrangeTM, the emerging global entity in AI-powered robotics systems for flexible automation across fulfillment centers in supply chain, has announced US$140 million in Series C funding, marking the largest round ever raised by an industrial robotics company. Mithril Capital, co-founded by Ajay Royan and Peter Thiel, led this round, which included Binny Bansal and other existing investors including Blume Ventures. They join Mitsubishi, Flipkart, and the Project Verte as investors in the company. Ajay Royan, Co-Founder and Managing General Partner of Mithril Capital, will join the GreyOrange board. Binny Bansal,…

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