Despite pandemic, exports register modest growth

Despite the slackening pace of the global trade due to Corona pandemic, Indian exports managed to stay in the positive territory in February. Total exports in February stood at USD 27.65 billion exhibiting a positive growth of 2.91 per cent. In Rupee terms, exports were Rs. 1,97,646.12 crore in February registering a positive growth of 3.29 per cent. Reacting to a nominal growth in February, FIEO President, Sharad Kumar Saraf said that in the wake of Novel Corona Virus, which not only pulled down the global sentiments but also affected the supply chain both internationally and domestically,…

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Corona outbreak may boost India’s agri exports

Amid the crisis over the global market due to the Coronavirus outbreak, the centre has identified 21 agricultural products wherein India can grab part of China’s market share. As per reports, these include honey, potatoes, grapes, soya beans, and groundnuts, in which Indian exports could benefit from trade restrictions against Chinese goods across the global market. As per reports, the total value of China’s global exports of these products amounted to $5488.6 million in 2018. India exported $4,445.9 million worth of these commodities in the same period and could now…

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Commercial vehicles sales continue to be dismal

According to automobile industry body SIAM, commercial vehicles sales was 58,670 units in February 2020 compared to 87,436 units in February 2019 marking a decrease by (-)32.90%. The industry produced a total 20,498,128 vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers and Quadricycle in April-February 2020 as against 24,358,082 in April February 2019 with a decline of (-)13.29%. Commercial Vehicles sales was 704,661 units in April-February 2020 compared to 898,289 units in April-February 2019, down by (-)21.56%. Rajan Wadhera, President, SIAM, stated “The decline in wholesale dispatches is…

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Deutsche Post DHL guidance excludes Corona impact

Global logistics giant, Deutsche Post DHL Group recently announced its 2020 earnings guidance which presently excludes any possible effect induced by the Coronavirus. However, the group believes the pandemic will definitely create some serious business pressure in the near run. In a press release, the group maintained that it had seen a very good start into 2020 in January and was prepared for the usual effects around Chinese New Year in February when the measures of the Chinese government were introduced. Since then the business development in Post & Parcel…

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Ore, fertilizers rescue ports over declining coal cargo

Iron ore and finished fertilizers shipments have enabled major ports to tide over falling volumes in coal and other miscellaneous cargo. Iron ore shipped through major ports soared 39 per cent between April and January of this financial year. Growth in the finished fertilizers cargo too was robust at 21.55 per cent. Thermal or steam cargo shipments plunged 14.98 per cent in the period whereas coking coal traffic growth was flat at 1.1 per cent. Crude oil and petroleum products witnessed slackened growth of 2.5 per cent in the period under review. Raw fertilizers traffic faced…

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‘Make in India’ programme facilitates more FDI

A recent written reply submitted in the Rajya Sabha by Commerce & Industry Minister Piyush Goyal underline ‘Make in India’ programme resulting in improved FDI inflow in the country since 2014. FDI inflow during the period April 2014 to December 2019 has been USD 335.33 billion which is nearly 51% of cumulative FDI in India since April 2000.  In 2018-19, FDI inflow stood at a record of USD 62 billion, highest ever recorded for a fiscal year ever. Make in India initiative has made significant achievements and presently focuses on…

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DP World to become Renault F1 Team global logistics partner

DP World and the Renault F1 Team have signed an agreement making DP World the Global Logistics Partner and Title Partner of the team, which will become the Renault DP World F1 Team starting from the 2020 season. Under the partnership, teams from DP World, Renault Sport Racing and Groupe Renault will leverage the F1 global marketing platform and collaboratively explore opportunities to increase the efficiency of their supply chain. Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer, DP World, said: “One of our strategic objectives has been…

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SITA- ULD blockchain solution for Air Cargo business

Even as aviation industry is reeling under tremendous business pressure following Coronavirus pandemic, SITA and trade association ULD Care are exploring the use of blockchain to digitally track and record change of custody of airline cargo containers or Unit Load Devices (ULDs) across their journey. By eliminating inefficiency, embedding always-on tracking of ULDs and abandoning redundant paper systems, the use of blockchain is expected to save the industry $400m a year in improved efficiency, fewer losses and prevention of damage. The proposed platform also offers a wide range of authentication and…

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Global debut of Redmi Note 9 series in India

Xiaomi, India’s leading  smartphone brand, last week launched the ninth generation of their Redmi Note series smartphones first in India. With an aim to fuel technological development and adoption locally, Redmi Note 9 Pro series brings support for ISRO’s indigenously developed navigation system, NavIC. Anuj Sharma, Chief Marketing Officer, Xiaomi India, said “Redmi Note series has been the torch bearer of innovation for everyone. Redmi Note 8 series set new benchmarks continuing the Redmi Note legacy and evolved as one of the most sought after series. In 2019, Redmi Note 8 Pro…

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Honda 2Wheelers India celebrates International Women’s Day

Making women independent & safe riders, Honda Motorcycle & Scooter, celebrated International Women’s Day across India under its special road safety #SafeRiderSmartRider program. Aligned with the global theme of this year’s international Women’s Day i.e. #IamGenerationEquality, Honda 2wheelers India brought together women of every age, ethnicity, race and religion and empowered them with the freedom of mobility. Aiming to build more independent and safe two-wheeler riders on road, Honda conducted exclusive female-oriented road safety #SafeRiderSmartRider program under two-fold approach. The celebrations were held at Honda’s 14 traffic training parks which saw activation participation of over…

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