India only bright spot in DHL Global Trade Barometer

The DHL Global Trade Barometer (GTB) indicates a further contraction in world trade for the next three months. The overall trade outlook is reduced by -2 points, to a new index value of 45. That means that global trade continues to lose momentum, albeit mildly. Against the previous updates, the downward tendency is largely moderate and steady, neither indicating an acceleration of the decline nor a bottoming out. Except India, all surveyed countries are affected by the deceleration and record indexes below the 50-points-threshold of no growth. The overall decline…

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“Cloud based procurement is a more efficient system”

Pradeep Agarwal, Senior Director, ERP Cloud, Oracle India speaks with Ritwik Sinha and explains the benefits of cloud based procurement process. Edited excerpts of the conversation…   Please share the basic details of cloud based self-procurement process? Procurement is one of the most basic and probably the most cumbersome functions of any organization. It includes approvals, POs, invoices, and challans, which makes the whole process too much paper-oriented and time taking process. Besides, the process is susceptible to human mistakes, which can be detrimental to the financial health of the…

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Major decline in core industries output in October

This could well be indicative of deepening slowdown in the economy. There has been a major drop in the output of eight core industries in October which collectively comprise over 40 percent of the Index of Industrial Production (IIP). The combined Index of Eight Core Industries stood at 127.0 in October, 2019, which  declined by 5.8 percent as against the figure registered in October,2018. In some of the sectors, the monthly output decline has simply been massive. Coal production, for instance, declined by 17.6 per cent in October,2019. Crude oil production…

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FASTag deadline extended by two weeks

The government has extended the deadline of making FASTag mandatory for toll payments on national highways to December 15. Earlier, it was supposed to be implemented on December 1st. “To facilitate sufficient lead time to citizens to obtain FASTag, it has now been decided that all the lanes in the Fee plazas shall be declared as ‘FASTag lane of Fee Plaza’ by December 15, 2019,” a Ministry of Road Transport and Highways communication said. The move is meant to curb the fuel wastage amounting Rs 12,000 crore incurred due to…

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India targeting 3300 MTPA port capacity by 2025

India is targeting to increase port capacity in the range of over 33000 MTPA by the end of 2025. In a reply in Lok Sabha recently, Minister of State for Shipping Mansukh Mandaviya informed that capacity augmentation is driven by  an analysis of nation-wide end-to-end logistics flows of all key commodities (85% of all commodities). The government had earlier announced a National Perspective Plan (NPP) for the Sagarmala Programme in April 2016. Master Planning of 12 Major Ports has been carried out and 95 capacity expansion and port modernizations projects…

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Railways allow end-users to carry third party cargo

 Railways Ministry has further liberalized its General Purpose Wagon Investment Scheme (GPWIS) to expand the ambit of prospective investors in the scheme. The amendments have been made on the basis of feedback received from investors and end users industry. Among other things, end users (other than logistics service providers) now also have been granted permission to load third party cargo in their rakes in empty direction. This will not only reduce the empty run of GPWIS rakes, but will also entail additional revenue to end user investors, in form of…

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Funding support for Holisol Logistics

New Delhi-based supply chain solutions provider Holisol Logistics has raised a fresh round of funding amounting Rs 20 crore. The latest funding support has come from Mumbai-based NBFC BlackSoil Capital. The company will be utilizing the funds for its further capacity building, strengthening of team, and expanding its tech-based solutions portfolio for its customers.  The company was founded in 2009 by Manish Ahuja, Naveen Rawat, and Rahul S Dogar. “We aim to provide solutions that fit our customers’ business requirements, rather than offering standard products which require the customer to…

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Decline in sugar production unlikely to create supply pressure

The Sugar Commissioner of Maharashtra has recently informed that the sugar production during current sugar season 2019-20 is estimated to be significantly lower than the last year – about 58.3 Lakh MT vis-à-vis about 107 lakh MT produced during last sugar season 2018-19. However, with the carryover stock of about 140 Lakh MT of last sugar season together with estimated production of 273 Lakh MT during current  sugar season, the total availability of sugar in the country is estimated to be about 413 Lakh MT as against estimated domestic consumption…

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Chennai-Bengaluru Industrial Corridor extension plan to include Kochi & Coimbatore

National Industrial Corridor Development and Implementation Trust (NICDIT) has accorded approval for extension of Chennai – Bengaluru Industrial Corridor (CBIC) to Kochi and Coimbatore and inclusion of Integrated Manufacturing Clusters (IMCs) identified in the States of Kerala and Tamil Nadu.  As per approved financial and institutional structure for Industrial Corridors by Government of India, the responsibility of making land available for the project is with the concerned State Government.  The activities relating to selection of consultant for detailed master planning and preliminary engineering of these IMCs are in progress.  Completion…

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SmartCity Kochi commissions 564-kWp rooftop solar power plant

SmartCity Kochi has commissioned a 564-kWp rooftop solar power plant that can generate on an average 8,20,000 units of electricity annually, making it one of the largest among the IT parks in Kerala. Built by Berkeley Energy, the green solution’s installation has been designed, engineered and commissioned by Sunshot Technologies. Berkeley, which delivers clean energy projects in emerging markets globally, has built the SmartCity plant under the OPEX model where the supplier invests, operates and maintains it. Out of the total 564-kWp capacity, 475-kWp capacity is installed on the RCC roof…

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