In its bid to align with the fast-growing e-commerce business, Indian Railways recently kickstarted a pilot project carrying consignments of Amazon on a specific EMU route. The services commenced from Sealdah to Dankuni in EMU local (suburban services) managed by Eastern Railways. The pilot project is initially for a period of three months where total 7 MT of consignment per day has been allowed to be carried.The rate chargeable is that of Luggage Rate (Scale L – highest scale) i.e. ₹.5537/- per day. This pilot project of booking consignments in…
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Dip in domestic crude oil production in H1
According to a government released data, crude oil production during September, 2019 was 2646.51 TMT which is 7.09% lower than target and 5.41% lower when compared with September 2018. Cumulative crude oil production during April-September, 2019 was 16372.02 TMT which is 4.52% and 5.96% lower than target for the period and production during corresponding period of last year respectively. Crude oil production by ONGC during September, 2019 was 1667.55 TMT which is 5.46% lower than the target and 2.55% lower when compared with September, 2018. Cumulative crude oil production by ONGC during April-September,…
Read MoreWalmart using pressure tactics, says CAIT in its note to PM
A day after Walmart CEO wrote a letter to Prime Minister asking for stable business environment in India, the Confederation of All India Traders (CAIT) in a communication sent to the PM came down heavily on Walmart CEO and termed his letter as pressure tactics. “These kind of rhetorics by global players are nothing but a pressure tactic to find a headway into the large existing business Potential of India’s 45 Lakh crore retail market and directly control our economy by indulging in unfair and monopolistic business practices,” the…
Read MoreUSDA revises down India’s sugar production forecast
India’s out-year centrifugal sugar production will decline for the second consecutive year to 29.3 million tonnes, which is 14.6 per cent below the previous season, as per latest data compiled by United States Department of Agriculture (USDA). This forecast includes 620,000 tonnes of khandsari (a local type of low-recovery sugar prepared by open-pan evaporation) and 28.7 million tonnes of mill sugar (equivalent to 26.8 million tonnes of crystal white sugar). Additionally, as compared to the previous season (Marketing Year 2018/19), a lower than expected diversion of cane for sugar production…
Read MoreBrokeman Logistics to represent Port of Rotterdam in India
In its bid to enhance its business activities in India, the Port of Rotterdam Authority spearheading Europe’s largest port has appointed Broekman Logistics as its representative in India. “As one of the fastest growing economies in the world, India is investing heavily in the development of seaports, industrial areas and hinterland connections. That makes India an interesting partner in the field of trade, maritime industry and education but also in the field of digital developments and innovations, ” Rene van der Plas, the head of Port of Rotterdam International has…
Read MoreGlobal coffee industry’s biggest show comes to India for its Asian debut
Ritwik Sinha The 5th edition of World Coffee Conference, the biggest event of the global coffee industry, will be hosted in India next year in Bengaluru. Organised by International Coffee Organization (ICO), which operates under the aegis of the United Nation and has 78 member countries, the event will be held from September 7th to 9th 2020. The Ministry of Commerce & Industry and the Karnataka government will be partnering in organizing the show, which is billed to be the biggest event of the coffee industry. At a time when global coffee prices…
Read MoreExports trade body forms India-Japan Business group
FIEO, the apex association of exporters, recently launched India-Japan Business Group, an online platform, to promote interaction between business communities of two countries exports, imports and investment between the two countries. On the occasion,FIEO also signed an MoU with Japan-India Industry Promotion Association (JIIPA), a Tokyo based NPO affiliated to Tokyo Metropolitan Government, to promote trade between India & Japan. The MoU shall pave the way for greater cooperation and interaction between the two premier institutions. Addressing the session on Trade & Business Opportunities between India and Japan, S K Saraf,…
Read MorePhoneix-Harshna partnership to improve back-end agri infrastructure in Kashmir
BY RITWIK SINHA Dubai-headquartered Phoniex group, a leading player in global rice and commodities trade and distribution, and Delhi-based Harshna Group known for cold chain solutions, have forged a partnership to create advanced back-end agri infrastructure in the country which would also include Kashmir where both partners have a presence. Harshna group has the largest cold chain capacity in Kashmir’s Pulwama district (amounting 30,000 metric tonnes) primarily dealing with around 10,000 local apple growers. The company which has been active in the state since 2008 has also helped farmers to…
Read MoreRobust parcel cargo growth in India
Indian logistics market has registered a hefty CAGR of 25% in parcel volume between 2013-18 and the trajectory is expected to be in over 20 percent range in the coming years. This is a major takeaway of Pitney Bowes, a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing, data and financial services, recently unveiled report titled Pitney Bowes Parcel Shipping Index. The annual report discovered global parcel volume reached 87 billion in 2018, up from 74bn parcels in 2017 and the highest since the…
Read More23 percent drop in commercial vehicle sales in H1
The latest figure on automobile sales in the country released by apex body of OEMs, SIAM, has confirmed that the slowdown in the business continues unabated. According to the latest data – the industry produced a total 14,427,724 vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers and Quadricycle in April-September 2019 as against 16,645,330 in April-September 2018, registering a de-growth (-) 13.32 percent over the same period last year. The commercial vehicle segment is clearly one of the worst hit – the April-September sales data shows a steep…
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