Consolidate wave in container shipping is close to its end, says Fitch report

According to a recent report by Fitch Ratings, global container shipping is focusing more on vertical integration, moving into logistics and away from consolidation amid slowing growth in container trade as well as digital disruption. “We believe that the consolidation wave in container shipping is approaching its end. The top six container lines account for over 70% of global market capacity. While we do not discount the possibility of further consolidation through the defaults of smaller, financially weaker companies or their acquisition by stronger rivals, we believe any large-scale acquisitions…

Read More

Fiscal 2019-20 begins on a dismal note for auto exports

It is turning out to be a case of double whammy for Indian automobile manufacturers. While domestic demand has considerably slipped, the significant drop in exports in the first two months of the current fiscal has only added to their woes. “In April-May 2019, overall automobile exports declined by (-) 0.27 percent. While Passenger Vehicles and Two Wheelers exports grew by 5.24 percent and 1.65 percent respectively and Commercial Vehicles and Three Wheelers registered a de-growth of (-) 55.01 percent, and (-) 10.91 percent respectively in April-May 2019 over the…

Read More

Traders body presents white paper on GST to FM Sitharaman

Apex traders body, the Confederation of All India Traders (CAIT), presented an exhaustive White Paper on GST to the Union Finance Minister Smt. Nirmala Sitharaman last week. The paper tends to draw attention of the government pertaining to tax slab linked anomalies as the finance minister prepares for her maiden budget presentation next month.   CAIT through its whitepaper has strongly urged that the tax rate of raw material should not be more than the tax rate of finished goods. It has also demanded items like Auto Parts, Aluminium Utensils…

Read More

India’s container exim trade grows by 3 percent during Jan-March

According to a recently released report by Maersk India, India’s container exim trade grew by 3 per cent in the first quarter of 2019. The growth has mostly been pushed by the exports segment whereas there was definite contraction in import container trade growth. The study earmarks growth in container exports at 6 percent driven by sectors like refrigerated cargo, engineering and pharma. Middle East and China were the two significant trade lanes where the outbound container trade growth was witnessed. The container imports growth, however, slipped in a negative…

Read More

Companies looking to change ground transport strategy

(Pix Courtesy: Company’s Website)   A recent survey titled “ The Logistics Transport Evolution: The Road Ahead”, commissioned by DHL, has revealed that companies across the globe are grappling with the issue of changing transport strategy to align with the fast growing e-commerce business. “ Especially the extraordinarily high service expectations born of e-commerce are impacting businesses. Just to name a few: Customers are expecting same or next day delivery, variable last-mile delivery options, high in-transit visibility, as well as flexible or free return policies and always in-stock inventories,” the…

Read More

World Bank to partner MoFP’s Gram Samriddhi Yojana

The Ministry of Food Processing will be launching a dedicated Gram Samriddhi Yojna in partnership with the World Bank to encourage employment generation in the agri and food businesses. Speaking after taking over the charge of the Ministry of Food Processing for the second time in a row, Union Minister for Food Processing Industries Harsimrat Kaur Badal  said “for the next five years employment generation is going to my focus, especially in rural areas, so that children of farmers do not have to look for employment elsewhere. Farmers should turn…

Read More

Marginal drop in foodgrains production

India’s foodgrains production in 2018-19 is estimated at 283.37 million tonnes which is higher by 17.62 million tonnes than the previous five years’ (2013-14 to 2017-18) average production of foodgrain, but lower than the 285 million tonnes foodgrains produced in the previous year, according to the third advance foodgrain estimates released by the Agriculture Ministry. Total production of rice during 2018-19 is estimated at record 115.63 million tonnes – up by 2.87 million tonnes. Production of Wheat, estimated at record 101.20 million tonnes, is higher by 1.33 million tonnes as…

Read More

Government EV targets should be practical, says SIAM

The apex body of automobile manufacturers SIAM has urged the government to have a practical and pragmatic approach in promoting e-mobility in the country. “ The ambition needs to be tempered with a practical approach and what is possible without needlessly disrupting the automotive industry,” cautioned Rajan Wadhera, President, SIAM. The association has cited a host of challenges which the manufacturers have to fix in the near run. This includes leapfrogging to BS VI emission norms, complying with many new safety norms etc., in the shortest time-frame ever attempted in the…

Read More

GPS withdrawal may marginally impact some product categories

Imitation jewellery and leather articles are leading product categories which are likely to bear the brunt of US government’s decision to withdraw GSP benefits from 5th June. Reacting to the development, Ganesh Kumar Gupta, President, FIEO (the apex body of exporters) said that out of USD 6.35 billion value of exports from India to US under the GSP scheme in the last fiscal, net benefit to the tune of only USD 260 million were accrued by the Indian exporters and thus at macro level the impact of GSP withdrawal on exports…

Read More

3 crore retail traders to benefit from pension coverage

In one of the its first cabinet decision, Narendra Modi led NDA government after its recent emphatic re-election approved a new scheme that offers pension coverage to the trading community. This was a major poll promise made by the BJP for the welfare of over 7 crore strong traders community in the country. The approved scheme entails all shopkeepers, retail traders and self-employed persons availing a minimum monthly pension of Rs. 3,000/- month after attaining the age of 60 years. All small shopkeepers and self-employed persons as well as the retail…

Read More