Maersk recently delivered its first end-to-end shipment of freshly produced ‘Green Chillies’from Varanasi to Jebel Ali, United Arab Emirates (UAE) within a duration of 9 days. The company worked closely with Agricultural and Processed Food Exports Development Authority (APEDA), the apex organization under the Ministry of Commerce & Industry, responsible for the export promotion of agricultural products, to enable trade opportunities in the state via land & sea routes. According to a company release, the delivery is a testament to Maersk’s efforts to unlock the agro-trade potential in Uttar Pradesh and expanding across the country by…
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Kharif production likely to decline by 53%
The country’s kharif food production could be much lower than the Centre’s first advance estimate of a marginal fall. Heavy post-monsoon showers are a key reason. The production of coarse grains, pulses, oil seeds and sugarcane is expected to decline in the summer season of 2019-20 due to late monsoon and erratic and heavy rains later, according to a report. In the current assessment, coarse grains, pulses, oil seeds and sugarcane have marginally pushed themselves further in the negative region with an expected decline of 14.14 per cent, 14.09 per…
Read MorePHD submits economic rejuvenation plan for Jammu & Kashmir
PHD Chamber of Commerce and Industry senior officials recently met MoS Finance and Corporate Affairs, Anurag Singh Thakur, and submitted an economic rejuvenation plan, consisting of a 20 point agenda, for economic development and employment generation in the Union Territory of Jammu & Kashmir. The suggestions on deferment of EMI till March 2020 and interest subvention for all business loans for 3 years with effect from August 2019, Income Tax exemption for 5 years, all 372 points of Business Reform Action Plan (BRAP) issued by Department of Industrial Policy and Promotion…
Read MoreJNPT touches new peak in cargo handling in 2019
Jawaharlal Nehru Port Trust (JNPT), India’s premier container port maintained its impressive registered a throughput of 5.10 million twenty-foot equivalent units (TEUs) in the CY2019. This marks a marginal increase over 2018 figure of 5.05 million TEUs. JNPT has five container terminals, among them, APM Terminals Mumbai (GTI) handled 2 million TEUs during the year, followed by DP World NSIGT with 0.99 million TEUs and PSA BMCT’s 0.82 million TEUs. JNPCT handled 0.77 million TEUs and the throughput of DP World NSICT was 0.52 million TEUs for the year. Meanwhile, the port…
Read MorePaperless licensing process for petroleum road tankers initiated
In a significant recent decision, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, initiated paperless licensing process through Petroleum and Explosives Safety Organisation (PESO) for road tankers for transportation of petroleum under the Petroleum Rules, 2002. Moving towards digitisation, the process will include filing the applications online. This will also include online payment of fees which will go directly to the concerned officer’s ID without any manual interface. Applicants, at each stage of processing of the application, will be intimated via SMS and…
Read MoreEscalation of US-Iran tension may impact India’s exports to Gulf
Escalation of tension between the US and Iran will have implications on India”s exports to the Persian Gulf nation, said FIEO President Mr Sharad Kumar Saraf. ” If the tensions esclates, it may have an effect on India’s exports to Iran,” Saraf said in a formal release. FIEO Chief also said that due to existing trade sanctions on Iran, Iranian shipping lines are only taking Indian consignments to that country. Iran’s major exports to India are oil, fertilisers and chemicals, while it imports cereals, tea, coffee, basmati rice, spices and…
Read MoreOver 20 percent decline in CV sales in April-December period
According to the latest automobile sales number released by SIAM, the industry produced a total 20,736,410 vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers and Quadricycle in April-December 2019 as against 23,853,770 in April-December 2018, registering a de-growth (-) 13.07 percent over the same period last year. The overall Commercial Vehicles segment registered a decline of (-) 21.09 percent in April-December 2019 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) declined by (-) 36.69 percent and Light Commercial Vehicles declined by (-)…
Read MoreU-Freight is ready for air cargo security screening from Hong Kong
With the phased implementation of 100 percent air cargo security screening having now started, the U-Freight Group says that it is well placed to assist shippers having become one of the first freight forwarders to have one of its logistics hubs in Hong Kong certified by the Hong Kong Civil Aviation Department (CAD) as a Regulated Air Cargo Screening Facility (RACSF). In Hong Kong, a transitional arrangement has been set up which will mean that all RACSFs are required to gradually increase the percentage of air cargo being screened. From…
Read MoreBRITISH AIRWAYS deploys A350-1000 on Bengaluru route
Bengaluru has become the first city in the country to welcome the airline’s sophisticated and newly branded business cabin known as Club Suite, which offers direct-aisle access, a door for greater privacy and luxurious flat-bed seats in a 1-2-1 configuration. Boasting 40 per cent more storage, including a vanity unit and mirror, high speed WiFi, enviable 18.5-inch inflight entertainment screens, high definition gate-to-gate programming, and PC / USB power; every aspect of British Airways’ new cabin has been designed for today’s customer. Moran Birger, Head of Sales Asia Pacific and Middle…
Read MoreFertiliser, cement production defy de-growth trends in November
The eight core sectors, accounting for over 40 percent of Index of Industrial Production (IIP), displayed negative growth trends for fourth consecutive month in November. The combined Index of Eight Core Industries stood at 126.3 in November, 2019, which marks a decline of 1.5per cent as compared to the index of November,2018. The production in five of the eight core industries continued to be in negative territory which included coal, crude oil, natural gas and steel. However, core sectors like refinery products, cement and fertilizer defied the de-growth trend. Petroleum…
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