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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IFC loan for agri-logistics firm SLCM

IFC, a member of the World Bank Group, has agreed to provide a $3 million loan to SLCM, the Yangon-based subsidiary of Sohan Lal Commodity Management, a Delhi-based agri­ logistics group. The loan is aimed at supporting the company to expand its warehousing services and allied services in Myanmar. “We have replicated our best practices and expertise in agriculture warehousing domain in Myanmar. In the past five years, we have been able to reduce post-harvest losses to 0.5 percent in the country, thus helping every player in the farm-to-market chain. We intend…

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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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WebCargo acquires Air Freight Bazaar

Chennai-based air freight rate and sales platform Air Freight Bazaar has been acquired by WebCargo. Hong Kong headquartered, Freightos, the parental firm of WebCargo is currently creating an international freight marketplace and Air Freight Bazaar’s acquisition is meant to enhance its presence in India considering the gradual growth of air cargo in the country. Indian airports, Mumbai and Chennai,  figure in the top 10 fastest growing air cargo hubs in the world today. “In terms of global cargo, India is far beyond the stage of a developing country. It is…

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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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JSL Lifestyle gets a new CEO

JSL Lifestyle, a subsidiary of Jindal Stainless, has appointed Mandeep Singh as its Chief Executive Officer (CEO) of the company. Singh, a seasoned management professional with over 28 years of experience in providing strategic direction to leading global and local brands, will be providing strategic and marketing leadership for various business verticals of JSLL, including tableware & home décor, bespoke kitchens, sanitation solutions, commercial kitchens, infrastructure, railways, Original Equipment Manufacturing (OEM) businesses, and plumbing solutions in his new role. In this capacity, he will also be responsible for charting growth strategies…

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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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