FIEO revises decline estimates in exports this year

Apex industry association of exporters, FIEO, has revised its exports decline projection for the current fiscal in the wake of Covid-19 pandemic which has considerably destabilized global trade. “Initially, looking into the lockdown challenges and projected decline in global trade, we expected 20% decline in our exports. However, two days back, the WTO trade estimates for the second quarter puts the contraction only at 13%. We are receiving lots of enquiries from countries where anti-China sentiments are high. Many of these enquiries have been converted into orders, as well. However,…

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Country of Origin information made compulsory on GeM

Government e-Marketplace (GeM), a Special Purpose Vehicle under the Ministry of Commerce and Industry, has made it mandatory for sellers to enter the Country of Origin while registering all new products on GeM. Further, sellers, who had already uploaded their products before the introduction of this new feature on GeM, are being reminded regularly to update the Country of Origin, with a warning that their products shall be removed from GeM if they fail to update the same. GeM has taken this significant step to promote ‘Make in India’ and ‘Aatmanirbhar Bharat’.…

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25% jump in railway freight movement

Indian Railways, which has been in the forefront of essential commodities supplies during rhe lockdown phase beginning in late March due to Covid 19, has reported a significant jump in freight transportation in the month of May via-a-vis the previous month. In the month of May, Indian Railways transported 82.27 million tonnes of essential commodities compared to 65.14 million tonnes in April which is more than 25% higher. According to a government release, between 24.03.2020 to 09.06.2020, more than 31.90 lacs wagons carried supplies to keep the supply chain functional.…

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CSIR initiates web platform for healthcare supply chain

A CSIR National Healthcare Supply Chain Portal that aims to provide real-time availability of critical healthcare supplies https://www.aarogyapath.in was launched late last week. has been launched on June 12,2020. The platform aims to serve  manufacturers, suppliers and customers bringing them together to maintain right demand-supply equilibrium in the market of critical items. According to an official release, the integrated public platform that provides single-point availability of key healthcare goods can be helpful to customers in tackling a number of routinely experienced issues. These issues include dependence on limited suppliers, time-consuming processes…

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DHL freight train connects Germany with China

In response to heavy customer demand, DHL Global Forwarding, the freight forwarding specialist of Deutsche Post DHL Group, has introduced two new block train connections from Germany to China at the end of May. A new connection serving from the KTL terminal on the BASF site in Ludwigshafen travels via Poland, Belarus, Russia, and Kazakhstan to the destination terminal in Xi’an, the capital of the Chinese province Shaanxi. In addition, an express train connection has been deployed between Neuss and Xi’an via Kaliningrad reducing the transit time to 12 days.…

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Horticulture production estimated to touch new high

Department of Agriculture, Cooperation and Farmers Welfare released the 2nd Advance Estimates of 2019-20 of Area and Production of various Horticulture Crops and it projects 3.13%  jump in fruits & vegetables production – 320.4 MT as against 310.7 MT in 2018-19. The fruits production is estimated to be 99.07 Million Tonne compared to 97.97 Million Tonne production in 2018-19. It is mainly due to increase in production of Banana, Apple, Citrus and Watermelon. The production of Vegetables in 2019-20 is estimated to be 191.77 Million Tonne, compared to 183.17 Million Tonne in…

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Blue Revolution to make India leading fish producing country

Through the Pradhan Mantri Matsya Sampada Yojana (PMMSY), the Ministry of Fisheries, Animal Husbandry and Dairying would tend to eventually make India the leading fishing production and exporting country in the world. The ministry aims to enhance fish production to 220 lakh metric tons by 2024-25 from 137.58 lakh metric tons in 2018-19 at an average annual growth rate of about 9%. The Union Minister for Fisheries, Animal Husbandry and Dairying, Giriraj Singh, recently  said the ambitious scheme will result in doubling export earnings to Rs.1,00,000 crore and generate about 55 lakhs direct and…

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Strong monsoon likely to curtail contraction in tractor sales

Tractor sales in India are expected be poor fro the second straight year, as production lines halted completely thanks to the national lockdown because of the coronavirus pandemic, but a good monsoon could results in a lesser-than-expected contraction, Rohan Kanwar Gupta, Assistant Vice President of credit rating agency ICRA said.   Gupta said prospects of a good southwestern monsoon that provides a lifeline to India’s farmer and the overall economy meant that agriculture was the only sector that could grow in the midst of the economic gloom and doom triggered by…

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Freight forwarders demand extension of Brexit transition period

Following a survey of its members, the British International Freight Association (BIFA) reports that the majority of respondents believe that an extension to the transition period is desirable, if no trade deal is agreed by December 31st 2020 and UK trade with the EU is conducted on WTO terms. The trade association that represents companies that are on the front line in the management of the UK’s visible imports and exports conducted the survey in response to the UK government’s insistence that it will not ask to extend the transition…

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Five more ports of call to boost India-Bangladesh bilateral trade

Even amidst the grand battle against Covid-19 which has brought economies across the world to a screeching halt, India and Bangladesh have expanded the scope of river cargo transportation by adding five more ports to the existing inland waterways protocol. Last Wednesday, the fresh agreement signed between the two countries have added five new ports of call in Bangladesh: Rajshahi, Sultanganj, Chilmari, Daudkandi and Bahadurabad. From the Indian side, the ports which will now also facilitate river transportation between the two countries are: Dhulian, Maia, Kolaghat, Sonamura and Jogigopha. The…

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