Double-digit containerized trade growth in July-September

India’s containerised trade with the world grew 10% in Q3 as against the same quarter in the previous year. According to the latest trade report released by Maersk, improved demand in various destination countries has propelled exports to grow at 10% year-on-year. The demand for India-made goods such as vehicles and mechanical appliances; as well as refrigerated cargo such as onions, meat, seafood and pharmaceuticals have driven exports.Simultaneously, imports have risen 9% year-on-year, largely dominated by a heavy inflow of paper, metal and white goods. Overall, the containerized market has displayed…

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20 start-ups to get on board of IKEA bootcamp

Global furniture giant IKEA is inviting 20 growth-stage start-ups from to join its start-up program called IKEA Bootcamp. This will also include start-ups from India. Through the three months long, semi-remote program slated from March 25 to June 18 2019, IKEA aims to find partners that can help address the big challenges of future – ‘affordability for the many people’, ‘connecting with and being accessible for people across the world’, and ‘enabling a positive impact on the planet, the people and society’. IKEA Bootcamp is a start-up program run by IKEA,…

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Govt targets $60 billion agriculture exports by 2022

The Union Cabinet recently approved the new agriculture export policy which aims to double the exports of Indian agricultural produce by 2022 – from the current $30 billion level to $60 billion by 2022. The initiative is also aligned with the larger objective of the government to double the income of the farmers in the next four years. The policy would seek to diversify  exports basket with a special focus to boost high value and value added agricultural exports including focus on perishables. It has also provisioned promoting novel, indigenous,…

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Rs 156 cr Varanasi freight village project approved

The Ministry of Shipping has cleared the decks for the development of aRs 156 crore freight village in Varanasi adjoining the Inland Waterways Terminal on River Ganga. The Varanasi freight village will be developed by the Inland Waterways Authority of India . It will serve as a cargo hub, and a centre for aggregation and value addition.  It will also provide support to stimulate development of a professional logistics industry in Varanasi. A World Bank pre-feasibility study had found Varanasi to be a suitable site for the freight village. The city is…

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High Security Registration plates to become mandatory from April

All new vehicles will be sold pre-fitted with High Security Registration Plates – HSRP from the 1st of April next year. The Ministry of Road Transport & Highways has notified amendments in Central Motor Vehicles Rules, 1989 to this effect. T he notification mandates that the High Security Registration Plate including the third registration mark shall be supplied by the vehicle manufacturers along with the vehicles manufactured on or after the 1st day of April, 2019 to their dealers and dealers shall place a mark of registration on such plates and affix them…

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Pepsi, Emami cargo comprise commencement of second inland sector

After the success of container cargo being shipped from Kolkata to Varanasi earlier  this year, Bihar’s capital Patna will be witness to a new landmark in India’s Inland Water Transport (IWT) sector with 16 TEUs of container cargo (equivalent to 16 truckloads) belonging to food giants PepsiCo India and Emami Agrotech Ltd from Kolkata reaching the city’s Gaighat IWT terminal on river Ganga this week. Inland Waterways Authority of India’s (IWAI) vessel sailed from Kolkata’s Garden Reach Jetty on 6th of December with the PepsiCo and Emami Agrotech products. It…

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FarEye recognized in Gartner’s Market Guide

Noida headquartered FarEye, a technology solution to run eCommerce and supply chain logistics operations, has been mentioned as a representative vendor in Gartner’s recent Market Guide for Real-Time Visibility Providers. According to Gartner’s 2017 Supply Chain Technology User Wants and Needs Survey, visibility ranks as the highest priority initiative in the supply chain. “FarEye Transportation offers digital ecosystems that connect all freight logistics stakeholders on one platform, fostering collaboration and transparency. Their technology is being used by companies in the 3PL, postal, CPG, metal, mining, cement, automotive and retail industries,”…

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Facilio raises $ 6.4 million from Tiger Global, Accel

 Facilio, a Facilities Management Tech start-up offering the unified IoT and AI-driven facilities optimization software, has announced a funding of USD 6.4 million led by international venture capitalists Tiger Global Management, LLC and existing investor Accel. Tiger Global has several successful early stage investments in companies including Flipkart, Freshworks, Peloton and Invision. Accel is a leading global venture capital firm with investments in ventures like Facebook, Slack, Flipkart and Freshworks among others. Founded in 2017 by cloud and IoT veterans Prabhu Ramachandran, Rajavel Subramanian, Yogendra Babu and Krishnamoorthi Rangasamy, Facilio offers real-time…

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WOW Air arrives in India

WOW air, the recently launched Icelandic low-cost long-haul airline began its operations from New Delhi last week with its inaugural flight being flagged off from Indira Gandhi International Airport. The airline will operate three weekly flights from New Delhi, connecting passengers to North America and Europe through their hub in Iceland (KEF).   WOW air serves a number of destinations from New Delhi including Chicago, Orlando, New York, Detroit, Baltimore, Boston, Pittsburgh, Los Angeles, Washington DC,  in the US; Toronto & Montreal in Canada and Reykjavik in Iceland. WOW air…

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AI led logistics processes to gain prominence in 2019

Nishith Rastogi, CEO, Locus  “Logistics industry had an exciting journey in the year 2018. From passing the e-way bill, rolling out GST, granting ‘infrastructure’ status to the logistics sector and passing the drone regulations 1.0; India indeed focussed on the logistics industry this year. 2019 will be the year of Artificial Intelligence in the logistics sector. AI is already helping businesses in cost-effectiveness, operational efficiencies, hassle-free procedures and efficient last mile deliveries for better end-user experience. With business demands rising, and companies expanding their horizons, expect supply chain problems to…

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