GPS withdrawal may marginally impact some product categories

Imitation jewellery and leather articles are leading product categories which are likely to bear the brunt of US government’s decision to withdraw GSP benefits from 5th June. Reacting to the development, Ganesh Kumar Gupta, President, FIEO (the apex body of exporters) said that out of USD 6.35 billion value of exports from India to US under the GSP scheme in the last fiscal, net benefit to the tune of only USD 260 million were accrued by the Indian exporters and thus at macro level the impact of GSP withdrawal on exports…

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APSEZ reports cargo throughput exceeding 200 MMT in FY19

The logistics arm of Adani group, Adani Ports and Special Economic Zone (APSEZ), has reported a hefty double-digit jump in cargo throughput during 2018-19. The company recently announced its annual result which underlines a cargo volume jump of 15 percent in FY19 taking the actual throughput to beyond 200 MMT mark.   The report maintains that the flag ship Mundra port grew by 13 percent while Hazira and Dahej grew by 16 and 30 percent respectively. The Southern port of Kattupalli registered a growth of 18 percent. All segments of…

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FreightBro launches dedicated app for freight forwarders

FreightBro, a freight technology start-up, has launched a dedicated app to optimize the freight forwarding process, save time and increase efficiency. The user-friendly app has features to discover global rates and schedules instantly, create instant quotes and monitor activity, accept bookings online, manage shipment life cycle and track cargo at a single touch of the screen. The app can be downloaded via the App Store and Google Play. With the launch of the app, FreightBro is aiming to simplify the complexities of the logistics industry using technology to empower freight…

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TCI reports over 17 percent revenue growth

Domestic logistics major, Transport Corporation of India (TCI) has reported a major jump in its critical financial numbers in 2018-19. Announcing its annual report recently, the company reported its consolidated revenue rising to Rs 2773 crore as against Rs 2364 crore registered in 2017-18. This marks a jump of 17.3 percent over last year. Interestingly, its PAT number has also grown by 17.3 percent – from Rs 123 crore in FY 18 to Rs 145 crore in FY19. Commenting on the performance,  Vineet Agarwal, Managing Director TCI stated, “All the…

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FarEye setting up base in the US market

FarEye, the supply chain tech start-up, has announced the appointment of Larry Klimczyk as President, Americas. He will be responsible for the expansion and growth of FarEye customers and solutions throughout the region. This is one of the key steps in FarEye’s strategy to expand its business foothold in the region and build a strong local team. With Gaurav Srivastava moving to the USA, the organization plans to hire more industry experts and open a local office in Chicago to be closer to its growing customer base. “We are very excited to welcome Larry, a…

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3 crore retail traders to benefit from pension coverage

In one of the its first cabinet decision, Narendra Modi led NDA government after its recent emphatic re-election approved a new scheme that offers pension coverage to the trading community. This was a major poll promise made by the BJP for the welfare of over 7 crore strong traders community in the country. The approved scheme entails all shopkeepers, retail traders and self-employed persons availing a minimum monthly pension of Rs. 3,000/- month after attaining the age of 60 years. All small shopkeepers and self-employed persons as well as the retail…

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HKG to focus on cross border e-commerce shipment

Hong Kong International Airport (HKG), one of the leading air cargo hubs in the world, has outlined three critical focus areas to scale up in the near to medium run. This includes cross border e-commerce shipment, high-value cargo and improvement in  regional services. Cross border e-commerce is believed to be growing exponentially and will touch $1 trillion mark by the end of 2020. The HKG authority has planned to add new elements to its operational profile which includes an expansive logistics center covering 380,000 square meters which will commence operations…

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“ Fresh funding will help in global expansion”

Artificial Intelligence (AI) backed supply chain optimization start-up Locus recently raised $22 million from  Falcon Edge Capital and Tiger Global Management in series B funding round. Nishith Rastogi, CEO of the company explains the significance of the fresh capital access in taking the company’s operations to the next level in a brief chat with Ritwik Sinha … This fresh fund infusion of $22 million, is it a major shot in the arm for Locus? Locus is on an unprecedented path to automate every possible decision in the supply chain. The…

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Transport infrastructure will be a key focus area for the new government

Giving a facelift to transport infrastructure will be a key focus for Narendra Modi led NDA government as it begins its second tenure. According to a study by credit rating agency ICRA, the government would decisively take forward some of the mega initiatives it had launched during its first tenure to improve transport infrastructure. “ The new Government is likely to maintain the continuity on the major programmes launched during its last tenure viz. Bharatmala Pariyojana (Highways), Sagarmala (Ports), railway station redevelopment programme, inland waterways development, Namami Gange, Swachh Bharat…

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Fiat Chrysler Automobiles–Renault Merger: Could this Break the Renault–Nissan–Mitsubishi Alliance?

By: Viroop Narla, Team Leader, and Venkata Balakrishnan, Senior Research Analyst, Mobility Practice, Frost & Sullivan Fiat Chrysler Automobiles (FCA) has been in the news over the past couple of months because of its constant search for merger partners. It is no secret that the company has been looking to boost profits, expand its product base across other countries, share manufacturing costs and co-develop future technologies. A possible FCA-PSA (Peugeot Citroen Groupe) merger was being widely touted. Even a possible Hyundai take-over of FCA was being considered. So the announcement…

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