E-commerce push takes warehouse leasing capacity beyond 25 million sq. ft.

The warehousing leasing business has seen unprecedented buoyancy in the recent years. According to a recently released report by CBRE titled ‘Online Retail Driving Realty – Elevating the E-commerce Game’,  warehouse leasing capacity in seven major cities in India grew by a staggering 45 % in 2018 crossing 25 million square feet mark. According to the report, the rapid expansion has been primarily driven by the demand from the fast growing e-commerce business and the momentum is likely to ensure the warehouse leasing capacity touching 60 million square feet mark…

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Fiscal 2019-20 begins on a dismal note for auto exports

It is turning out to be a case of double whammy for Indian automobile manufacturers. While domestic demand has considerably slipped, the significant drop in exports in the first two months of the current fiscal has only added to their woes. “In April-May 2019, overall automobile exports declined by (-) 0.27 percent. While Passenger Vehicles and Two Wheelers exports grew by 5.24 percent and 1.65 percent respectively and Commercial Vehicles and Three Wheelers registered a de-growth of (-) 55.01 percent, and (-) 10.91 percent respectively in April-May 2019 over the…

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Niki Frank to spearhead DHL Global Forwarding India business

Global logistics major Deutsche Post DHL Group, which has a strong presence in India, has appointed Niki Frank as Managing Director for DHL Global Forwarding India division. According to a company release, Frank has spent the last seven years leading global transformation initiatives for DPDHL Group and DHL Global Forwarding, making major contributions to its pivotal growth strategy that saw the business revive its performance and regain market share since 2016. Frank most recently served as Senior Vice President for Global Business Strategy, and led the Certified International Forwarder (CIF)program…

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Traders body presents white paper on GST to FM Sitharaman

Apex traders body, the Confederation of All India Traders (CAIT), presented an exhaustive White Paper on GST to the Union Finance Minister Smt. Nirmala Sitharaman last week. The paper tends to draw attention of the government pertaining to tax slab linked anomalies as the finance minister prepares for her maiden budget presentation next month.   CAIT through its whitepaper has strongly urged that the tax rate of raw material should not be more than the tax rate of finished goods. It has also demanded items like Auto Parts, Aluminium Utensils…

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India’s container exim trade grows by 3 percent during Jan-March

According to a recently released report by Maersk India, India’s container exim trade grew by 3 per cent in the first quarter of 2019. The growth has mostly been pushed by the exports segment whereas there was definite contraction in import container trade growth. The study earmarks growth in container exports at 6 percent driven by sectors like refrigerated cargo, engineering and pharma. Middle East and China were the two significant trade lanes where the outbound container trade growth was witnessed. The container imports growth, however, slipped in a negative…

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Driver Safe Mobile App launched

Society for Automotive Fitness & Environment (SAFE), a SIAM initiative, in association with Ministry of Road Transport & Highways and Transport Department, Government of Jharkhand, organised the 20th edition of SAFE Annual Convention in Ranchi, Jharkhand last week. On the occasion, SIAM and the Automotive Skills Development Council (ASDC) launched “Driver Safe App” which is a platform to recognize, reward and incentivize people with good driving behaviour. This app is designed to provide better knowledge to the drivers to prevent road accidents and can detect a driver’s way of driving, the driving pattern and…

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Lodha Group-ESR to develop $100 million industrial park near Mumbai

Realty major Lodha Group and Warburg Picus backed logistics development entity e-Shang Redwood (ESR) have forged a 50: 50 JV partnership to develop a large-scale industrial park near Mumbai. The project will be developed on an expansive 89 acres site at Palava city amounting nearly $100 million investment. Palava City (4500 acres) is billed to be India’s first greenfiled smart city project which also has a provision for a 170 acre industrial park zone mainly for non-polluting manufacturing and warehousing. The site is strategically located for easy access to JNPT…

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FarEye launches real-time dynamic routing to support hyper-local deliveries

FarEye has announced the launch of AI-based real-time dynamic routing feature to empower on-time and cost-effective deliveries which will majorly impact the hyperlocal and grocery delivery industry that demands quick turn-around-time. The technology empowers businesses to minimize empty mile journeys, eliminate vehicle idling time and optimize the productivity of delivery executives by assigning them highly efficient routes. According to a company release, a key area where FarEye’s real-time dynamic routing would make a difference is in fleet utilization. FarEye’s engine addresses the most exhaustive constraints that disrupt transportation operations. Some of these…

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RailYatri is now the top-recalled travel brand

RailYatri has been rated number one in organic recall amongst travel apps in India, leaving behind all the leading travel platforms in the OTA and multi-modal intercity transportation sectors. RailYatri now leads the chart with 17.4 million monthly organic users, toppling the likes of MakeMyTrip which now stands second with 16.3 million followed by Cleartrip with 13.5 million monthly organic users. The user numbers are basis SEMRush, a 3rd party site that is a standard to measure users. RailYatri currently offers Train, IntrCity SmartBus besides Food-on-Train and has been a leader…

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Revenue growth in Q4 FY2019 hits six quarter low

According to a recently released report by the noted credit rating agency ICRA, the broader Q4 financial results reflect growing pressure on the performance front for the companies. The report based on the analysis of 642 companies in the Indian corporate sector underlines revenue growth in Q4 FY2018-19 slipping to six-quarter low at 10%.   Weal consumer sentiments and softening of commodity prices have been cited as the major reasons for somewhat sluggish revenue growth pattern.  Shamsher Dewan, Vice President – Corporate Sector Ratings, ICRA commented, “The weakness in the consumer-linked sectors…

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