Railways kickstarts pilot project to align with e-commerce firms

In its bid to align with the fast-growing e-commerce business, Indian Railways recently kickstarted a pilot project carrying consignments of Amazon on a specific EMU route.  The services commenced from Sealdah to Dankuni in EMU local (suburban services) managed by Eastern Railways. The pilot project is initially for a period of three months where total 7 MT of consignment per day has been allowed to be carried.The rate chargeable is that of Luggage Rate (Scale L – highest scale) i.e. ₹.5537/- per day. This pilot project of booking consignments in…

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Dip in domestic crude oil production in H1

According to a government released data, crude oil production during September, 2019 was 2646.51 TMT which is 7.09% lower than target and 5.41% lower when compared with September 2018. Cumulative crude oil production during April-September, 2019 was 16372.02 TMT which is 4.52% and 5.96% lower than target for the period and production during corresponding period of last year respectively. Crude oil production by ONGC during September, 2019 was 1667.55 TMT which is 5.46% lower than the target and 2.55% lower when compared with September, 2018. Cumulative crude oil production by ONGC during April-September,…

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Walmart using pressure tactics, says CAIT in its note to PM

A day after Walmart CEO wrote a letter to Prime Minister asking for stable business environment in India, the Confederation of All India Traders (CAIT) in a communication sent to the PM came down heavily on Walmart CEO and termed his letter as pressure tactics.    “These kind of rhetorics by global players are nothing but a pressure tactic to find a headway into the large existing business Potential of India’s 45 Lakh crore retail market and directly control our economy by indulging in unfair and monopolistic business practices,” the…

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Snapdeal launches Dhanteras e-store

Snapdeal has announced the launch of its dedicated dhanteras e-store to provide popular items of the festival in one platform. The store has utensils, gold and silver jewellery and coins, gemstone, pooja items, cleaning items like brooms, and home decor. Snapdeal has curated special discounts on gold coins and an affordable range of silver coins starting at Rs 149. These bars and coins are available from brands like MMTC Pamp, Bangalore Refinery, National India Bullion Refinery(NIBR), Goldsikka Jewels, and more. Coins in Ganesha, Laxmi and Radha Krishna designs are also…

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Cargill redesigns packaging to reduce carbon footprint

Cargill’s oils business in India has redesigned its packaging by cutting down on the amount of raw plastic used across all products. In association with Dow Chemical, the business reformulated its plastic material, making 90% of its plastic packaging recyclable and will be used in the packaging of its popular edible oil brands Gemini, Sweekar, and NatureFresh. To raise further awareness,  the brands carry the slogan “recycle the present, save the future” on their packaging. Commenting on the intiative, Piyush Patnaik, Managing Director, Cargill’s oils business in India said, “As a responsible business, we…

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USDA revises down India’s sugar production forecast

India’s out-year centrifugal sugar production will decline for the second consecutive year to 29.3 million tonnes, which is 14.6 per cent below the previous season, as per latest data compiled by United States Department of Agriculture (USDA). This forecast includes 620,000 tonnes of khandsari (a local type of low-recovery sugar prepared by open-pan evaporation) and 28.7 million tonnes of mill sugar (equivalent to 26.8 million tonnes of crystal white sugar). Additionally, as compared to the previous season (Marketing Year 2018/19), a lower than expected diversion of cane for sugar production…

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