‘India First’consideration to drive future trade deals, says Piyush Goyal

Two days after India refused to become the signatory of the Regional Comprehensive Economic Partnership (RCEP) treaty in Thailand, Union Minister of Commerce and Industry & Railways Piyush Goyal while addressing a press conference in Delhi assured that India will never finalize any trade agreement in a hurry. During trade negotiations the focus will be on India first, he maintained. Goyal asserted that India’s economic interests and national priorities come first and the concerns of the farmers, dairy sector, MSMEs and domestic manufacturing will be addressed and these sectors will be…

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TCI Express reports nearly double-digit revenue growth in Q2

TCI Express, a leading player in the domestic express distribution business, has reported 9.3 percent revenue growth in the second quarter of the current fiscal. According to a company release, revenues  from operations shot up to Rs. 271 crores in Q2 FY2020 from Rs. 248 crores in Q2 FY2019. The company saw its  EBITDA margin growing by 15.1 percent – Rs. 32 crores in Q2 FY2020 as against Rs. 28 crores in the corresponding period last year.Commenting on the performance, Chander Agarwal, Managing Director, said: “The margin improvement was attributable to operational efficiency and better working capital management.We also expanded our geographical presence and opened 15 new branches in the quarter.” During the quarter, the company kickstarted two new sorting centre projects at Gurgaon and Pune. Construction of the new 2 lakh sq.ft. sorting centre at Gurgaon and 1.5 lakh sq.ft. sorting centre at Pune are expected to be completed by end of the current fiscal year with commercial operations projected to begin fromQ1 FY2021.

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CEVA expands its functional base in South Asia

Global logistics major, CEVA Logistics, has expanded its footprint in South Asia by opening two new offices in Sri Lanka and Maldives. With this initiative, CEVA Logistcs is committing multimodal services (air, sea and road transportation solutions), to its customers in the two countries. Going by the indications from the company, CEVA Logistics is particularly keen to tap Sri Lanka’s exim trade market primarily comprising sectors like textiles and machinery. “CEVA Logistics’ customers will find we are able to deliver more efficient solutions across a greater range of services. Inbound…

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GRSE delivers second FPV to Indian Coast Guard

Garden Reach Shipbuilders and Engineers (GRSE), a Miniratna Category 1 and a leading warship building company in the country under the administrative control of the Ministry of Defence, has delivered ICGS Annie Besant, second in the series of five Fast Patrol Vessel (FPV) to the Indian Coast Guard. The FPV is a medium range surface vessel with a length of 50 m, width of 7.5 m and displacement of around 308 T and is capable of operations in the maritime zones of India. These powerful, fuel-efficient platforms are designed to…

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Honda to introduce new exclusive premium motorcycle models

Six months after establishing its new premium big bike business vertical–, Honda Motorcycle & Scooter India recently shared the overview of its next exciting and aggressive growth plans for fun biking enthusiasts in India. Elaborating on Honda’s fun biking focus, Yadvinder Singh Guleria, Senior Vice President – Sales & Marketing, Honda Motorcycle & Scooter India said, “Globally Honda has a strong legacy of fun riding – be it for fun urban riding, super-sport racing, luxurious touring or even off-roading. Starting April’19, Honda spearheaded its new premium bike business identity under Silver…

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UPS DEPLOYS BOEING 747 FREIGHTER ON DELHI ROUTE

Global logistics major UPS(NYSE:UPS) has deployed its latest freighter aircrafts to India, from its fleet of Boeing 747 – 400 /-8 and Boeing 767. UPS’s largest aircraft – the Boeing 747-8F freighter received a ceremonial welcome from Delhi International Airport Limited (DIAL) for its first landing in the city recently. With the deployment of new aircrafts,the businesses in North India will gain faster access to markets in the west, with extended pick up time, later commercial clearance and shorter time in transit to capitalize on growth opportunities in Europe and…

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FreightBro joins Digital Hub Logistics Hamburg

FreightBro, India’s first freight forwarder facing digital platform that digitizes operations for Freight Forwarders, became the first Indian startup to join the Digital Hub Logistics Hamburg in an exclusive event titled ‘Digital Hub Logistics Hamburg Roadshow – An Indo-German Logistics Startups Connect.’ Organised by FreightBro, the event focused on the importance and the success of building a digital logistics ecosystem in Germany and the potential of replicating similar ecosystem based models in India. Mohammed Zakkiria A, Co-Founder, FreightBro, said, “Joining hands with Digital Hub is a strategically sound decision for us  and is the…

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Payment arrears mounting for Indian basmati rice exporters

The disruption in oil offtake from Iran by India  has begun affecting trading of other commodities between the two countries. The basmati rice traders are claiming to be the most affected with payment arrears now mounting close to Rs 1500 crore. Iran is the largest basmati importing market for Indian traders accounting for 20-25 percent (average annual offtake between 1 to 1.5 million tonnes) of the total Indian basmati exports of around 4.5 million tonnes every year. “ The basmati rice exporters to Iran are in a fix not only…

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Coal India to produce one billion tonne of coal by 2024

Minister of Coal & Mines, Pralhad announced a new target for Coal India Limited (CIL) amounting 750 million tonnes by the Financial Year 2020-21 and one billion tonne of coal in the financial year 2023-24. The Minister announced this target during his address at the 45th Foundation Day of CIL in Kolkata last week. The CIL is currently given the target of producing  660 million tonnes of coal amounting to 82% of the country’s coal output. “It is heartening to know that Coal India has planned for huge capital investments for…

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World crude steel production fell marginally in September

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 151.5 million tonnes (Mt) in September 2019, a 0.3% decrease compared to September 2018. World crude steel production was 1,391.2 Mt in the first nine months of 2019, up by 3.9% compared to the same period in 2018. Asia produced 1,000.1 Mt of crude steel, an increase of 6.3% over the first nine months of 2018. The EU produced 122.5 Mt of crude steel in the first nine months of 2019, down 2.8% compared…

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