China may allow access to more Indian commodities in the near term

By Ritwik Sinha Against the backdrop of the bruising US-China trade spat, Indian exporters are hopeful that Beijing will allow direct access to Indian commodities and products soon. China, one of India’s biggest bilateral trade partners,  is currently engaged in a bitter tariff war with the Trump administration, forcing it to redraw its international trade strategy. This is likely to benefit India which has been seeking direct access for more products and commodities, according to Mohit Singla, Chairman, Trade Promotion Council of India (TPCI). “We expect China will soon open…

Read More

DP World-NIIF JV entity to buy majority stake in KRIL

Hindustan Infralog, a joint venture between global logistics major DP World and the National Investment and Infrastructure Fund (NIIF), have announced acquisition of 76% stake in KRIBHCO Infrastructure Limited (KRIL). KRIBHCO infrastructure arm operates as a multi-modal logistics operator in India and has three major Inland Container Depot under its command – Pali, Haryana; Modinagar, Uttar Pradesh and Hazira, Gujarat. Founded in 2009, KRIL also has an expansive container train operations within the country. Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, commented: “We are delighted to announce…

Read More

Re-election of NDA credit positive for the port sector

The emphatic victory of the NDA government in 2019 parliamentary elections bode well for the domestic port sector. According to credit rating agency ICRA, this has ensured the continuation of the port led development strategy which has long term benefits for the national economy. Ravichandran, Senior Vice President & Group Head-Corporate Ratings, ICRA commented, “The reelection of NDA will be credit positive for the domestic port sector, as they are expected to continue with their port led developmental model, which will throw open several business opportunities for the incumbents. During the earlier…

Read More

Start-ups hail Modi government’s victory

In its first tenure, Narendra Modi led NDA government had given a decisive push to kicstart a start-up culture in the country. And its emphatic comeback has enthused the representatives of the start-ups sphere who are now hoping that the growth journey of the technology led new enterprises would be further bolstered. Rashi Gupta, Co-founder & Chief Data Scientist at Rezo.AI said,  ” We look forward to the next 5 years of the new government and are positive that it will continue its focus and support to the startup ecosystem; especially…

Read More

Saudis to boost crude supply to Indian Oil in second half of 2019

Saudi Arabia may soak up some of Iran’s previous market share on the Indian market as Saudi Aramco is set to ship additional 2 million barrels per month to Indian Oil Corp between July and December this year on top of the existing term supply deal between the two companies.    “We have told them we will be taking 2 million barrels every month for six months from July (about 1.6 million tons in total) and they have agreed,” A K Sharma, Indian Oil’s director (finance), told Reuters this week. India, Iran’s…

Read More

India to surpass China as world’s largest cotton producer: USDA

India will surpass China to become the world’s largest cotton producer in 2019-20 season, according to latest estimates from the US Department of Agriculture (USDA). India’s cotton production during the season is forecast to increase by 3-million-bales to 28.5 million bales, while China is likely to produce 27.75 million bales. One bale is equivalent to 170 kilograms. “For 2019-20, India’s cotton area is forecast to rise slightly to 12.35 million hectares (30.5 million acres), as price expectations remain favourable for cotton. The national yield is also projected to rebound from…

Read More

Lowe’s acquires retail analytics platform from Boomerang Commerce

Lowe’s Companies, Inc. (NYSE: LOW) has announced accelerating its technology capabilities and focus on driving strong retail fundamentals by acquiring the Retail Analytics platform from Boomerang Commerce. The technology will be integrated into the company’s core retail business and bolster strategic and data-driven pricing and merchandise assortment decisions across Lowe’s businesses. The platform provides a retail analytics solution that processes product and pricing datasets to convert them to insights and actions. The acquisition is designed to assist in modernizing and digitizing Lowe’s approach to pricing. “One of the key components…

Read More

UPS makes largest renewable natural gas purchase

UPS (NYSE: UPS) recently signed an agreement with Clean Energy Fuels Corp.(NASDAQ: CLNE) to purchase 170 million gallon equivalents of renewable natural gas (RNG) through 2026. This is the largest commitment for use of RNG to date by any company in the United States, with a range of 22.5 – 25 million gallon equivalents per year. RNG is a key part of UPS’s strategy to increase alternative fuel consumption to be 40% of total ground fuel purchases by 2025, supporting the logistics leader’s efforts to reduce the absolute greenhouse gas (GHG) emissions…

Read More

Shadowfax brings Shamik Sharma on board

Shadowfax, an emerging name in the domestic logistics space, has announced the appointment of Shamik Sharma as an Independent Board Director,another strategic hiring in quick succession. With this announcement, the company aims to bring in a strong technical and business mentorship as it pursues its fast growth trajectory. The company aims to focus on consistency, quality control, business planning along with financial acumen for overall robust growth in the long run. Shamik brings many years of solid experience building technology-driven business in the Silicon Valley as well as in India. He was a successful…

Read More

PE Inflows in Indian Retail double to $1.2 bn in two years

(Executive summary of a recently released report by Anarock) Further liberalization in FDI policies – 51% FDI in multi-brand retail and 100% FDI in single-brand retail under the automatic route (against the previous 49%) – has attracted major global PE funds to double their investments in the Indian retail sector. As per ANAROCK’s Private Equity in Indian Real Estate report, the total private equity inflows in the Indian retail sector between 2015-2018 stood at USD 1.84 bn. Of this, nearly USD 1.2 bn were pumped in between 2017-2018 alone.   US and Canada-based PE funds together invested more…

Read More