Task force gets into action for e-commerce policy

The special task force constituted by the Commerce Ministry to suggest modalities for a dedicated e-commerce policy got into action with its maiden meeting in New Delhi late last week. The commerce ministry had earlier committed announcing a new policy by the end of this year. The first meeting of the task force was chaired by the Commerce Secretary, Rita Teaotia, and  suggestions were sought from the participating stakeholders on a range of issues including border data flows, taxation, trade facilitation and logistics, consumer confidence, IPR and future tech, FDI…

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Govt. seeks suggestion for quantum jump in exports in near run

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, in his interaction with the leading trading houses and exporters in New Delhi last week, sought suggestions on formulating a strategy for increasing exports by USD 100 billion in the next few years. The meeting was organized by the apex body of exporters – FIEO. Commerce and Industry Minister informed that the export performance has been encouraging, last year, merchandise exports crossed USD 300 billion and registered a growth of 10%, while in 2016-17 it was 5%. Total exports,…

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GEODIS- CDiscount agree to expand logistics partnership

GEODIS and Cdiscount are expanding their logistics partnership with the opening of an 80,000 square meter storage facility in Moissy-Cramayel (in the Seine-et-Marne department of France) in order to manage products weighing less than 30 kilograms sold by the French e-commerce leader. As part of its development strategy, Cdiscount has entrusted GEODIS with the operation of its new logistics platform in Moissy-Cramayel, located in the Seine-et-Marne department in the southern Île-de-France region of France. In less than three months, GEODIS teams have successfully opened this 80,000 square meter facility, which can…

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Core industries report modest growth in May

The Eight Core Industries comprising 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP) have reported a cumulative growth of 3.6 per in May. Coal production was a major contributor to this growth with an increase of 12.1 per cent in production.  Fertilizers production too grew at a robust pace of 8.4 per cent. The growth in steel output, however, was negligible at 0.5 percent. Another important core sector, Cement,  grew by a modest margin of over 5 percent. The laggards during the month…

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No reduction in grocery bills

Implementation of GST may have moved into its second year, but majority of the consumers in the country believe it has not made any impact on their grocery bills. A poll conducted by LocalCircles, a citizen platform, in 215 districts covering over 30,000 consumers across the country say that only 21 percent of consumers feel that GST implementation has resulted in reduction in their monthly grocery bills. As against this, a staggering 63 percent posed a counter opinion. The participants in the poll were also asked to share their opinion…

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Airbus BelugaXL transport aircraft rolls-out of paintshop

The first BelugaXL, the next generation offering from global aircraft manufacturing giant Airbus,  has rolled out of the paintshop unveiling a special livery making it look like a Beluga Whale. The livery was one of six choices submitted to Airbus employees through a poll in which 20,000 people participated. With 40% votes in favour, the smiley livery won. The BelugaXL will now undertake ground tests before first flight planned in summer 2018.  The decision to launch new aircraft BelugaXL was taken in November 2014 to address the transport and ramp-up…

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6.5MMT additional petroleum reserves proposal cleared

The union government has approved the proposal to establish additional 6.5 Million Metric Tonne (MMT) Strategic Petroleum Reserve (SPR) facilities at two locations in the country – Chandikhol in Odisha and Padur in Karnataka. The two facilities will have capacities of 4 MMT and 2.5 MMT respectively. ISPRL has already constructed underground rock caverns for storage of 5.33MMT of crude oil at three locations, viz. Vishakhapatnam (1.33 MMT), Mangalore (1.5 MMT) and Padur (2.5 MMT). The total 5.33 MMT capacity under Phase-I of the SPR programme is currently estimated to…

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Financial support for insurance coverage of MSME exports

The Cabinet Committee on Economic Affairs last week approved the capital infusion of Rs.2000 crore for strengthening of  Export Credit Guarantee Corporation (ECGC).  The amount would be infused in the three financial years. The infusion would enhance insurance coverage to MSME exports and strengthen India’s exports to emerging and challenging markets like Africa, CIS and Latin American countries.  With enhanced capital, ECGC’s underwriting capacity and risk to capital ratio will improve considerably.  With a stronger underwriting capacity, ECGC will be in a better position to support Indian exporters to tap…

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Volume of online shoppers to surpass 120 million

The growth momentum in online shopping in the country will go unabated in 2018. According to a recently released report by an industry body, the volume of online shoppers will shoot beyond 120 million during the course of the year. As per an ASSOCHAM-Resurgent joint study, online shopping is expected to clock annualised growth of 115 percent this year, aided by fast-increasing data consumption and improvement in logistics, along with a number of offers presented by e-commerce platforms. In the previous year, the study noted that as many as 108 million consumers did…

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IWS 2018 reflects rising aspirations for big boxes

One of the primary fallout of GST implementation was expected to be the beginning of a new era for storage and distribution, not only in terms of size but also in terms of technological intervention and automation inputs. As GST implementation is inching close to its first anniversary, a moot point of debate today is: how much of anticipated transformation GST has managed to trigger  in the warehousing eco-system in the country? “To a considerable extent,” one would say if the central message from the 8th edition of India Warehousing…

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