India poised for double-digit growth in 20-21, says economic survey

According to the Economic Survey released on 29th January, India’s real GDP is set to record a growth of 11 per cent in 2021-22 and nominal GDP by 15.4 per cent-the highest since independence. The Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman presented the Economic Survey 2020-21 in Parliament which states that the rebound will be led by the low base and continued normalization in economic activities as the rollout of COVID-19 vaccines gathers traction. The fundamentals of the economy remain strong as gradual scaling back of lockdowns…

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Kisan Rail services picking up momentum

Ever since the first Kisan Rail train was flagged-off on 07.08.2020 between Devlali (Mah) and Danapur (Bihar), 17 more routes have been added to this special services. According to a government release, till 22nd Jan, 157 services of Kisan Rail have been run, transporting more than 49,000 Tonnes of consignments. The primary objective of running Kisan Rail trains is to increase the income in farm sector by connecting production centers to markets and consumption centers. The union government had announced commencing this service in last year’s budget to  transport perishables and…

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BharatBenz launches six new trucks

Daimler India Commercial Vehicles (DICV) recently introduced eight new products to its range of BharatBenz commercial vehicles. On display were six new trucks and two new buses equipped with new user-centric features and design elements. According to a company release, since the start of BSVI sales in April 2020, BharatBenz’s has almost doubled its market share and increased its network to 250 touchpoints across India. In line with its innovation-driven market focus and commitment to offer customized solutions, BharatBenz’s new set of commercial vehicles are designed to provide unmatched reliability and…

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Blue Dart reports 21% sales growth in Q3

India’s leading express air and integrated transportation and distribution company Blue Dart has declared its financial results for the quarter October – December 2020. The company has posted  Rs 937.83 million profit after tax (previous year Rs 330.80 million loss) for the quarter ended December 31, 2020. Revenue from operations for the quarter ended December 31, 2020 stood at Rs 10,349.22 million.  Balfour Manuel, Managing Director, said “Blue Dart has outperformed in the quarter ended December 31, 2020 with an increase in sales by 21%. The stellar performance for the quarter is backed by right yield management and aggressive cost efficiencies delivered though high service delivery by passionate and pandemic warriors frontline Blue Darters. Sectors such as E-commerce, Pharmaceuticals, Consumer electronics etc. saw…

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DP World commences construction of Mumbai FTZ

Global logistics major DP World has started construction of its Nhava Sheva Business Park (NSBP) Free Trade Zone (FTZ) in Mumbai. The Rs 1000 crore DP World FTZ investment comes under the Hindustan Infralog Private Limited (HIPL) joint venture between DP World (65%) and the National Investment & Infrastructure Fund (NIIF) (35%). This venture has been created to invest up to $3 billion in ports, logistics and related sectors across the country. NSBP, a Special Purpose Vehicle, is a co-developer for the Jawaharlal Nehru Port Trust (JNPT) SEZ. The FTZ…

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E-commerce, express business drive DHL’s record growth

The world’s leading logistics company Deutsche Post DHL Group recently announced preliminary results for 2020 which is far better than market expectations considering Corona led troubles last year. The group has reported improving its operating profit (EBIT) to a record of EUR 4.840 billion and with this significantly outperformed its earnings guidance of EUR 4.1 to 4.4 billion for financial year 2020. With its broad range of logistics services, the Group benefited from the rise in global e-commerce activities and increased consolidated revenue by 5 percent to EUR 66.8 billion in…

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H&M touches half a century mark in India

H&M, Hennes & Mauritz AB, the international fashion retailer known for fashion and quality at the best prices in a sustainable way, recently opened its 50th store in India. The newest H&M store has been opened in Bhubaneswar. H&M opened its first store in 2015 and in a little over 5 years has expanded their retail footprint considerably. In November 2020, the brand opened its 49th store in Lucknow and today operates stores across 25 cities that include all the leading metro cities like Mumbai, Delhi, Kolkata, Chennai, Hyderabad, Bangalore as well as other…

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Addverb introduces new solution for e-Grocery segment

Global robotics and automation company, Addverb has come up with its new automated Micro-Fulfillment Centers specifically dedicated for the e-grocery segment. The company through its innovative in-house solutions and robots is working towards making e-Grocery segment future ready. Micro Fulfillment Centers are the small-scale warehouse facilities, located inside the cities at strategic locations enabling a less than 2-hour delivery from the time; an order is placed till it gets delivered. Being on time every time, MFCs eliminates the complex web of last-mile delivery for the e-grocery retailer through its more efficiency in picking, packing and shipment services.   Making a smart move to higher…

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GRSE bags Passenger & Cargo Ferry Vessel contract from Guyana

It was a huge boost for the export initiatives of GRSE, when the Harbour Department, Ministry of Public Works, Govt of Guyana recently signed the contract with the shipyard on 13 Jan 21, to build an Ocean-Going Vessel at a cost of 12.7 MUS$.   The 1700 tons(appx) vessel is to be used on the Coastal and Riverine Areas of Guyana, and shall be equipped  with two Caterpillar Marine Diesel Engines coupled with Twin Disc Reduction Gear Boxes to achieve 15 knots speed.   GRSE has been a pioneer warship builder…

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Mahindra Logistics introduces Electric Last-Mile Delivery Service

 Domestic 3PL major, Mahindra Logistics has launched its cargo last-mile delivery service under the brand name ‘EDel’. This new service line of sustainable last-mile logistics and fulfilment with ‘EDel’ would particularly be deployed to serve customers in E-Commerce, FMCG,etc. EDel would initially operate across 6 major cities in India including Bengaluru, New Delhi, Mumbai, Pune, Hyderabad and Kolkata, before expanding to a total of 14 cities in the next 12 months. EDel will deploy a fleet of EVs starting with 3W vehicles, designed for cargo applications. The fleet will be deployed by MLL in collaboration with…

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