Export figures touch all time high in 2018-19

Indian exports in 2018-29 are estimated to have touched an all time high of over $330 billion beating the previous highest mark recorded in 2013-14. “Through secular growth over the last three financial years, following the major downturn in the face of the global slowdown, merchandise exports for 2018-19 are estimated at $ 331.02 billion, the highest ever, surpassing the earlier peak of $ 314.4 billion achieved in 2013-14. This has been achieved in a challenging global environment,” the commerce ministry said in a statement. Reacting to the overall merchandise…

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Government e Marketplace registers over Rs 23,000 crore of GMV

Government e Marketplace (GeM), the national public procurement portal offering end to end solution for all procurement needs of Central and State govt. departments and PSUs, has reported a four-fold increase in total value of transactions on the portal and doubling of number of sellers in the marketplace in 2018-19. According to a government release, the portal grossed over Rs. 23,000 crores in Gross Merchandise Value (GMV) through more than 17 lakh transactions on the platform during the financial year. The portal made over 8.8 lakh products available on its…

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PM to address national traders convention

The violent scenes witnessed during the recent ceiling drive in central Delhi notwithstanding, PM Narendra Modi will address traders of Delhi and upcountry on 19th April at Talkatora Stadium, New Delhi. In the meeting, PM is expected to explain and reassure the BJP manifesto commitments made to the traders community. In the recently unveiled manifesto, the BJP has committed formation of a National Traders Welfare Board, a National Policy for Retail Trade, pension to traders above the age of 60 years, accidental insurance of Rs.10 lakh to traders who are…

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India expected to post highest exports growth in 2019-20

Despite the global headwinds, the export of goods and services from the country is projected highest at 8% by IMF in 2019 as per a recent estimate. According to Rajeev Talwar, President, PHD Chamber of Commerce and Industry, this growth projection is highest in the leading top 20 exporting countries. The exports of goods and services are expected to increase from US $ 540 billion 2018-19 (estimated) to US $ 600 billion in 2019-20. The growth of exports of goods and services from India have been found significantly strong as…

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Manufacturing growth slips in negative territory in February

As per the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of February 2019, the overall growth remained flat with a negligible 0.1 percent jump. The cumulative growth for the period April-February 2018-19 over the corresponding period of the previous year stands at 4.0 percent. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of February 2019 stood at 112.3, 129.3 and 137.7 respectively, with the corresponding growth rates of 2.0 percent, (-) 0.3 percent and 1.2 percent…

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Significant jump projected in deployment of robots in warehouses

According to a recently released report by ABI Research, there would be a tremendous jump in the use of robots in warehouses in the next five-six years. The report underlines that the same day delivery pressures would facilitate this change in trend globally. The report pegs the volume of robots currently used in warehouses to the tune of 27,000 which will skyrocket to about 4 million. They will be installed in 50,000 warehouses across the globe as against 4000 presently. Nick Finill, senior analyst at ABI Research, said: “Flexibility and…

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Air Asia to commence direct service between Ahmedabad to Bangkok

Low-cost aviation major, Air Asia has announced commencing a direct service between Ahmedabad to Bangkok from May 31st. This would mark opening of the ninth route by the airline from India. “We would operate four flights per week initially. This is the ninth route between Thailand and India, after eight routes have been made operational from other places in India,” said Rajkumar Paranthanam, Head – Marketing, AirAsia India. The airline is expecting to attract tourists from Gujarat who presently comprise 10 percent of the total Indian footfall to Thailand. Last…

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CVs outshine other vehicle segments in 2018-19

Apex automobile industry body, Society of Indian Automobile Manufacturers (SIAM) has released the annual production figures for 2018-19 which clearly places the commercial vehicle segment as the star performer of  the just concluded fiscal. According to the report, the industry produced a total 30,915,420 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April-March 2019 as against 29,094,447 in April-March 2018, registering a growth of 6.26 percent over the same period last year. However, the real growth push came from the commercial vehicles sales. The overall…

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Panalpina’s acquisition by DSV to create global logistics powerhouse

After several weeks of speculation, Danish transportation and logistics firm DSV has confirmed going ahead with its plan to buy out Swiss freight forwarder Panalpina. The deal is valued at $4.6 billion and it is slated to create an over $17 billion revenue entity. The combined entity is likely to function with a new name – DSV Panalpina. “DSV and Panalpina will become one of the world’s largest transport and logistics companies with a combined pro forma revenue of approximately $17.76 billion and a combined workforce of more than 60,000 employees,” an…

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Highest GST revenue collection in March

According to a government release, the total gross GST revenue collected in the month of March, 2019 stood at  Rs. 1,06,577 crore of which CGST is Rs. 20,353 crore, SGST is Rs. 27,520 crore, IGST is Rs.50,418 crore (including Rs. 23,521crore collected on imports) and Cess is Rs. 8,286 crore (including Rs. 891crore collected on imports). The collection during March, 2019 has been the highest since introduction of GST. The revenue in March, 2018 was Rs. 92,167crore and the revenue during March, 2019 is a growth of 15.6% over the revenue in the same month last year. The revenue for the last quarter in the year 2018-19 is 14.3%…

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