Commercial vehicle sales dip in the negative territory

The current fiscal hasn’t exactly begun on a positive note for the automobile industry in terms of sales growth. According to apex industry body SIAM, the industry produced a total of 2,363,376 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April 2019 as against 2,646,257 in April 2018, registering a double-digit decline of (-) 10.69 percent over the same month last year. The overall Commercial Vehicles segment registered a decline of (-) 5.98 percent in April 2019 as compared to the same month last year.…

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CONCOR plans fresh capex cycle for rapid expansion

Domestic logistics giant Container Corporation of India (CONCOR) which has a dominating presence in the rail container segment will be spending upto Rs 8000 crore in the next five years to expand its infrastructure base. “We are coming up with 20 distribution logistics centres and 100 dry ports. We are already operating 83 (dry ports) and we will make it 100. The 20 distribution logistics centres will be connected to 100 (dry ports). Total investment in the next five years will be Rs 6,000-Rs 8,000 crore,” CONCOR Chairman and Managing…

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Retail, logistics to contribute in near-run job creation

While lack of job creation in the market is a critical issue in the ongoing mandate 2019 exercise, staffing firm TeamLease Services latest analysis projects an improvement in the scenario in the near run. Its Employment Outlook Report has underlined creation of 11.5 lakh jobs during the first half of the current fiscal and retail and logistics sectors would be the key job generators.   Travel and hospitality and BPO/ITes businesses have been projected to be the lead drivers of fresh job creation. The analysis covers as much as 19…

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DP World reports flat volume growth in Q1

Global logistics major, DP World handled 17.5 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2019, with gross container volumes declining by 0.6% year-on-year on a reported basis. The UAE handled 3.5 million TEU in 1Q2019, down -8.8% year-on-year, due to the challenging macro-environment and loss of lower-margin cargo. Growth in Americas, Africa and Indian Subcontinent was robust with strong growth in Callao (Peru), Sokhna (Egypt) and Mumbai (India). DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem commented, “As previously…

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Indo-US bilateral trade to cross $100 billion by 2020

India’s bilateral trade in goods with USA is likely to cross USD 100 billion by 2020 from the current level of USD 85 billion in 2018, said PHD Chamber of Commerce and Industry in a recent press statement. The attraction for trade in goods between India and USA is gaining momentum in the recent years and is expected to become more stronger in the coming times, said Rajeev Talwar, President of the chamber. The share of USA in India’s bilateral trade in goods has increased from 9% in 2017 to…

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SpiceJet introduces business class on key domestic routes

 In a surprising move, domestic low cost aviation major SpiceJet has decided to add business class offering,  SpiceBiz, on select routes from this month. The airline will be offering a dedicated business class cabin with 43-inch seat pitch and 7-inch recline, complimentary lounge access, higher baggage allowance, gourmet meals and beverages, priority services, etc. To start with, the new business-class seating will be available on select sectors which include Delhi-Mumbai-Delhi, Delhi-Patna-Delhi, Delhi-Bangalore-Delhi, Hyderabad-Mumbai-Hyderabad, Mumbai-Kolkata-Mumbai, Mumbai-Guwahati-Mumbai, Mumbai-Jaipur-Mumbai, Delhi-Hyderabad-Delhi, Kolkata-Chennai-Kolkata, Mumbai-Varanasi-Mumbai, Mumbai-Chennai-Mumbai, Delhi-Bagdogra-Delhi, Mumbai-Coimbatore-Mumbai, Delhi–Kolkata-Delhi, Delhi–Jammu–Delhi, Mumbai–Dehradun–Mumbai, Mumbai–Kochi–Mumbai, Mumbai–Gorakhpur–Mumbai, Mumbai–Durgapur–Mumbai, Kolkata–Port Blair–Kolkata, Kolkata–Pune–Kolkata,…

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Maharashtra, UP to lead capex drive in road sector

According to a recently released report by credit rating firm ICRA, the capital expenditure scene in the road sector  will be dominated by Maharastra and UP in the next three years. The report cites a host of large scale road projects in these states which are expected to unfold in the near run. For instance, the estimated spend in case of Nagpur-Mumbai expressway alone is Rs. 35,000 crore over next three years. Similarly, in UP, for Purvanchal and Ganga expressways together the estimated spend over next three years is around…

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TVS Motors supports Tagbox with series A funding

TVS Motors has supported the emerging logistics tech player Tagbox with close to $4 million series A funding. Tagbox founded in 2016 specialises in Internet of Things (IoT) and machine learning based supply chain solutions. The company claims to offer solutions which ensure seamless shipment all through the value chain. “Organizations across the globe are increasingly adopting IoT and machine learning solutions to improve their supply chains and operations. We have already delivered ROI from our IoT based predictive insights solutions for leading retail, ecommerce, pharma, F&B, dairy and manufacturing…

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Zebra to introduce new products in its 50th year

Zebra Technologies Corporation (NASDAQ: ZBRA), known for its cutting edge solutions aligned with retail, e-commerce and supply chain businesses, is celebrating its 50th anniversary.   Commemorating 50 years of innovation, this year Zebra will be introducing a new breed of products and solutions so businesses can anticipate implications and make best-action decisions based on real-time guidance. “We are proud to celebrate our half century milestone with our customers across the retail/ecommerce, manufacturing, transportation and logistics, healthcare, government and other industries,” said Anders Gustafsson, Chief Executive Officer, Zebra Technologies. “While Zebra has changed its stripes over the…

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HomeLane establishes base in Kolkata,Pune

Leading home design brand HomeLane.com has established its base in two additional markets – Kolkata and Pune. The start-up plans to invest INR 15 crores to boost business and brand in the new markets and aims to deliver 1000 homes in both cities in the next one year. With Pune and Kolkata, HomeLane will be now 7 cities and 10 experience centres strong. The startup is already strengthening its market presence by doubling its experience centers in the existing markets. HomeLane also plans to add 200 interior designers from the…

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