National Logistics Policy finds prominence in budget 20-21

One of the major highlights of Finance Minister Nirmala Sitharaman’s second budget presented yesterday was the emphasis on logistics. The finance minister declared that a National Logistics Policy will be released soon and it will clarify the roles of the Union Government, state governments and key regulators. The policy will create a single window e-logistics market and focus on generation of employment, skills and make MSMEs competitive, she added. The National Logistics Policy formulated by the Commerce and Industry Ministry is slated to improve India’s trade competitiveness, create more jobs,…

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Budget provisions to boost agri exports

The government’s emphasis on agriculture (announcement of 16 point action plan in the union budget 2020-21) is likely to give a major boost to agri exports which account for around 10 percent of India’s total export kitty. The government is targeting to double agri exports by 2022 alongwith doubling of farmers income. Responding to budget proposals, FIEO President Sharad Kumar Saraf said that the Union budget has attempted at structural changes in agriculture, horticulture and pisciculture, through 16 Action Points, to make India a major player in agro and allied…

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FreightBro supports Maersk Spot integration

FreightBro, a freight-tech start-up digitizing the manual processes in forwarding, announced the integration of Maersk Spot within its digital platform for freight forwarders. In a first-of-a-kind initiative across India, FreightBro platform will now use Maersk Spot APIs allowing customers to book and secure container space online and in real-time. With this integration, freight forwarders can now access real-time rates on the platform. This product guarantees equipment availability and cargo loading on Maersk and Safmarine services irrespective of the peak season at a fixed price.  Kathiresan Eswaramurthy, COO, FreightBro, mentioned, “Maersk Spot is indeed a game-changer and our customers can benefit not only from…

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Automobile body expresses disappointment with budgetary announcement

Indian automobile sector, which has been reeling under its worst slowdown phase for the last two decades, has expressed disappointment with union budget 2020-21. Society of Indian Automobile Manufacturers (SIAM), the apex body of automobile players in the country, has said that the budget announcement did not meet its expectation of getting some relief at this critical juncture. The Indian Automobile industry was looking forward to some direct benefits in the budget, which could have helped in reviving demand in the context of the current slowdown and huge investments made…

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UPS web upgrade to help Indian SMB customers

Global logistics giant UPS has upgraded its shipping website, www.ups.com, by making the process of creating an international shipment smarter and easier for its small and medium business (SMB) customers in 116 countries, including 36 countries in the Indian subcontinent, Middle East and Africa (ISMEA). “With SMEs contributing over 40% of GDP in emerging economies, there is no doubt about the huge potential this sizable and fast-growing segment possesses,” said Jean-Francois Condamine, President, High Growth and Emerging Markets at UPS. “At UPS, we are committed to enabling and supporting their…

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TCI reports flat growth in first nine months in 19-20

The slowdown impact has adversely impacted the performance of the leading logistics firm, Transport Corporation of India (TCI). The company has reported a minuscule 1.1 percent growth in its topline in the first nine months period ending 31st December – Rs 1,909 crore as against Rs 1,888 crore. Its profit after tax (PAT) figure in the same period, however, has gone up by 13 percent to Rs 95 crore from Rs 84 crore last year. The company recently announced its 9 months financial number. Commenting on the results, Vineet Agarwal,…

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First banana container train sent to JNPT

Agricultural and Processed Food Products Export Development Authority(APEDA), along with State Government of Andhra Pradesh and one of the largest member exporter of banana, dispatched the first shipment of 890 MTs of high quality bananas, loaded in 43 refrigerated containers,from Tadipatri, Anantpur in Andhra Pradesh to Jawaharlal Nehru Port (JNPT) in Mumbai last week for export to international markets. Government of India under Agri Export Policy has notified banana cluster in Anantpur and Kadapa districts of Andhra Pradesh. The exporting company has been able to change the package of practices…

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New brand identity for UrbanClap

UrbanClap recently announced the creation of its new brand – Urban Company. The new umbrella brand captures the company’s ambition to be a horizontal gig marketplace, with a global footprint and leadership position across service categories Beauty & Wellness and Home Repairs & Maintenance. UrbanClap was launched in Delhi in November 2014 with a handful of service professionals. Over the past 5 years, it has expanded to 4 countries (India, Australia, Singapore and the UAE), built a fleet of 25,000+ trained professionals and served over 5 million households. The new…

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A Kisan Friendly Budget

Sandeep Sabharwal, CEO, SLCM Group This budget is  Kissan Friendly  with strong emphasis on doubling farmer income by 2022. The allocation of 2.83 trillion rupees  for the Agriculture and allied sector is a huge positive for the sector. The 16-Action Point formula for the agriculture sector, which government has spelled out could prove to be a game changer for the sector, if implemented in totality.  It is heartening to note that FM has acknowledged the active role NBFCs and cooperatives in agriculture lending. It is also exciting to see that…

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Logistics to get a major boost

Kushal Nahata, CEO & Co-founder, FarEye  We welcome the progressive budget by the government this year. The logistics industry has been a key focus for the government in the past few years and with the announcement of the soon to be launched National Logistics Policy- the industry is going to get a major boost.  Allocation of Rs 1.7 lakh crore for transport infrastructure in FY21 and the move to monetize 12 lots of highway bundles of over 6,000kms before 2024 is welcoming news as it will positively impact freight movement…

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