NEC India to be spearheaded by Aalok Kumar

NEC Corporation and NEC Technologies India last week announced the appointment of Aalok Kumar as the new President and Chief Executive Officer (CEO) of NEC Technologies India. Among other things, the Indian subsidiary of the Japanese firm is involved in the large scale container tracking venture in association with Delhi Mumbai Industrial Development Corporation (DMIDC). With this appointment, Takayuki Inaba, former Chairman & Managing Director, has been appointed as Executive Chairman of NEC Technologies India. Akihiko Kumagai, President of the Global Business Unit, NEC Corporation, said, “This management restructuring exercise is aimed…

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Honda reports 5% growth in March 20

Honda Motorcycle & Scooter India closed March 2020 with total sales of 2,61,699 units as against 2,49,136 units in March’19. Honda’s domestic sales in the month of March grew 11% from 2,22,325 units last year to 2,45,699 units in March’20 while exports moderated at 16,000 units. Overall, the challenging fiscal 2019-20 saw the domestic two-wheeler industry sales slowdown for the 16th straight month. Honda closed FY2019-20 (April 2019 to March 2020) with total sales of 50,31,297 two-wheelers. This includes domestic sales of 47,06,572 units and exports of 324,725 units.  In wake of…

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Global shipping associations seek G-20 intervention

Two leading associations representing global shipping industry last week sought intervention by G-20 to facilitate minimal restrictions for ships and crews. The International Chamber of Shipping (ICS) association and the International Association of Ports and Harbors (IAPH) jointly made the plea to ease the restrictions (ships and their crews being in a quarantined phase at several places) to ensure the flow of essential items globally. These restrictions have been imposed in response to Coronavirus menace. “ Ensuring that seafarers can travel without undue restriction will be key to maintaining the…

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FedEx special operations to combat Coronavirus threat

FedEx Express recently announced conducting a special operation over the weekend to help the U.S. government quickly move COVID-19 test specimens from more than 50 remote drive-thru testing centers at major retailers across 12 states. This critical mission, led by the White House, Department of Health & Human Services (HHS) and the Federal Emergency Management Agency (FEMA), was a collaborative effort among retailers and healthcare companies to enable quick processing of COVID-19 test specimens to help prevent spread of the virus. To ensure weekend support of this mission, FedEx Express…

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Export body seeks extension of Foreign Trade Policy

FIEO, apex association of exporters, has recommended a slew of measures to the government to help the fraternity in combating the unprecedented crisis caused by Coronavirus threat. This includes extension of the Foreign Trade Policy 2015-2020 (also extension of Status Holder Certificates till March end next year). The association has also suggested amnesty scheme for old Advance, EPCG and EOUs for regularization of default by payment of only Customs duty without interest and penalty to lessen the burden on industry. Other key recommendation includes extension of Export Obligation (EO) of all advance/EPCG…

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Redressal cell to control food processing supply chain disruption

On 26th of March, Union Food Processing Industries Minister Smt. Harsimrat Kaur Badal informed setting up of a Grievance Redressal Cell in the Ministry to ensure that problems faced by food processors during the COVID-19 lockdown are resolved at the earliest. Smt.HarsimratKaur Badal said that industry members facing any problem in operations and distribution of food products could send their queries to covidgrievance-mofpi@gov.in.            Earlier , Secretary, Ministry of Food Processing Industries (MoFPI), Smt. Pushpa Subrahmanyam had written letter to Chief Secretaries of all states regarding need for continued functioning…

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APSEZ declares Force Majeure at key facilities

Adani Ports and Special Economic Zone (APSEZ), India’s biggest private port operator, has declared force majeure at its key facilities in Mundra, Tuna and Dhamra. This is in response to the  three-week lockdown imposed by the government to control Corona Virus. “In view of the COVID-19 pandemic, Port hereby notifies the “Force Majeure Event”, wherein port will not be responsible for any claims, damages, charges, etc whatsoever arising out of and /or connected to the above Force Majeure event, either directly or indirectly, which without any limitation would include vessel…

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Mall operators seek immediate financial relief

Responding to COVID-19 threat, state governments have ordered complete shut-down of shopping centres, malls, multiplexes/cinema halls etc. until March 31, 2020, in major metros like Mumbai, Pune, Banaglore, Chennai, Gurgaon and other locations. And mall operators are apprehensive of a prolonged troubled period even if normalcy is restored in a few weeks from now.   “The impact of the shut-down of the Shopping Centres across various cities has been beyond comprehension,” says Abhishek Bansal, Executive Director, Pacific Malls.  “The rental income has come down to zero since the closure of malls.…

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Mahindra Logistics appoints V. S. Parthasarathy as board Chairman

Mahindra Logistics, one of India’s largest 3PL solutions providers in Logistics, has announced the appointment of V. S. Parthasarathy as its Non-Executive Director and Chairman of the Board with effect from March 25, 2020. Parthasarathy is currently the Group CFO and Group CIO of Mahindra & Mahindra Ltd until March 31, 2020. From April 1, 2020 he will take charge of the newly created Mobility Services Sector of the Mahindra Group. He is a Member of the Group Executive Board of Mahindra & Mahindra Ltd., and on the Board of several…

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More than 34000 freight wagons deployed in a single day

On the 3rd day of the nation-wide complete lock down (27th March), 34648 railways freight wagons carried supplies across  the country to keep the supply chains functional. Of these, 23682 wagons of essential commodities were ferried by Indian Railways in 425 rakes to ensure that the supply chains keep functioning. The total number of wagons carrying essential commodities during the last week reached approximately 1.25 lacs. Out of the total 23682 wagons which were loaded for essential commodities, there were 1576 wagons of foodgrains, 42 wagons of fruits and vegetables,…

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