Revised policy for CFS,ICDs to address overcapacity concerns

In a significant recent development, the Central Board of Indirect Tax and Customs (CBIC) notified revision in policy and guidelines for setting up of Container Freight Stations (CFS), Inland Container Deport (ICD) and Airfreight Stations (AFS). The revision in policy has been undertaken to boost investment in the sector as well ensuring development of more regions where these physical infrastructure units can come up in larger number instead of their concentration to certain locations. As per the notification, the locations will now be classified as Green Blue or Red. “…

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Subsidy on air transportation under Operation Greens Scheme

Under Aatma Nirbhar Bharat Abhiyan, Operation Greens Scheme TOP to TOTAL, 50% transportation subsidy is now made available for air transportation for 41 notified fruits and vegetables from North-Eastern and Himalayan States to any place in India. Airlines will provide the transport subsidy directly to the supplier, consignor, consignee or agent by way of charging only 50% of the actual contracted freight charges and will claim the balance 50% from MoFPI as subsidy. The scheme was approved and the amended Scheme Guidelines were early this month. In relaxation of other conditions…

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ESR India to develop 11 logistics parks in Maharastra

ESR India, part of the leading logistics real estate firm ESR which has stronghold in APAC, has made a major investment announcement. The company has inked an agreement with Maharastra government to set up 11 industrial and logistics parks in the state. These units will be mostly set up around Mumbai and Pune. On a cumulative basis, these projects would entail an investment of over Rs 4,300 crore by ESR India. “The Government of Maharashtra and the MIDC (Maharashtra Industrial Development Corporation) have been very supportive of our efforts to…

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‘Direct Port Entry Facility’ commences at Chidambaranar port

V.O. Chidambaranar Port Trust has now added a major feature to its list of services offering for its customers and users – ‘Direct Port Entry Facility.’ It was inaugurated by Union Minister of State for Shipping  Mansukh Mandaviya last week through video conferencing. The state-of-the-art Direct Port Entry (DPE) facility would enable direct movement of containers from factories, without intermediate handling at any CFS, thus facilitating the shippers to Gate-In their factory stuffed exports directly to the Container Terminal on 24×7 basis. The facility is created in an area of 18,357…

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New warehousing hubs emerging in non-metro circles

High-intensity focus on making India a global manufacturing hub has caused warehousing clusters to expand rapidly beyond the top cities and into tier 2 and 3 cities, reveals ‘Indian Industrial & Logistics – Gearing Up a Global Manufacturing Hub’ – a joint report by US-based Binswanger Commercial Real Estate Services and ANAROCK Group. The two firms recently joined hands to offer boutique advisory, brokerage and transaction services on industrial real estate opportunities between India, USA and other global markets. The report says that demand for small and multi-location warehouses is expected to…

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New launches indicate rebound in housing sector

Despite the spiralling COVID-19 pressures across the country, the Indian housing sector made a decisive comeback in Q3 2020 with sales and new launches rebounding to 65% and 79% of the pre-COVID-19 levels (Q1 2020) respectively. This has been revealed in a new study unveiled by ANAROCK Property Consultants. According to the report, the top 7 cities witnessed housing sales of approx. 29,520 units in Q3 2020 as against 45,200 units in the pre-COVID-19 quarter of Q1 2020. Sales were significantly higher than the preceding quarter, when the coronavirus pandemic had brought sales down…

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Port Blair Airport to get new terminal building

Veer Savarkar International Airport, Port Blair is soon going to have a new terminal building. The airport currently handles 18 lakh passengers annually. Considering the surge in the passenger traffic, Airports Authority of India has undertaken the work for construction of New Integrated Terminal Building at a cost of Rs. 700 crores. With total built up area of 40,837 sq m, the New Terminal Building will be capable to handle 1200 passengers during peak hours and about 50 lakh passengers annually. The new passenger terminal building will have three-levels comprising…

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ADB signs $500 mln loan for Delhi-Meerut RRTS Corridor

The Asian Development Bank (ADB) and the Government of India last week signed a $500 million loan, the first tranche of a total $1 billion facility, to build a modern, high-speed 82-kilometer Delhi-Meerut Regional Rapid Transit System (RRTS) corridor that will improve regional connectivity and mobility in India’s national capital region (NCR). The signatories to the loan agreement for the Delhi-Meerut RRTS Investment Project were  Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs in the Ministry of Finance who signed for the Government of India,…

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Gadkari lays foundation stones of major highway projects in MP

Union Minister for Road Transport, Highways and MSMEs Nitin Gadkari inaugurated and laid the foundation stones for 45 highway projects for the State of Madhya Pradesh through video conference last week. These projects for inauguration and foundation laying carry a Road length of 1361 kilometers, involving construction value of Rs 11427 crore. Paving the way for development of MP, these roads will enhance better connectivity, convenience and economic growth in and around the State. Speaking on the occasion, Gadkari said, the NH length in the state has tremendously improved in…

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NHAI unveils mobile app to monitor plantation along national highways

‘Harit Path, a unique app developed by the National Highways Authority of India (NHAI) to monitor plantation along national highways was inaugurated by the Union Minister for RTH  Nitin Gadkari last week. According to an NHAI release, to commemorate 25 years of its service to the nation, it has also recently undertaken ‘Harit Bharat Sankalp’, a nation-wide plantation drive which is in line with its commitment to promote environment protection and sustainability. Under this initiative, NHAI planted over 25 lakh plants in 25 days along the stretches of the National…

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