Govt to reduce logistics costs to 12%
Ahmad Shariq Khan & Aamir H Kaki The Govt wants to bring down the overall logistics cost to 12%. This was revealed by Nitin Gadkari, Minister for Road Transport, Highways and Shipping during the unveiling of the 3rd edition of a report titled “Operational Efficiency of Freight Transportation by Road in India”, on Tuesday. The report was jointly published by Transport Corporation of India (TCI) and IIM Calcutta.Speaking on the occasion he said if India does not bring down logistics costs, which currently stand at 18 percent, the country will not be able to give a competitive edge to it's exporters. He also stressed on the need to develop multimodal transportation solutions in the country.Referring to China he said, "China's ...
Union Cabinet okays coastal shipping between India, Bangladesh
Source: PIB, Government of India. The Union Cabinet, chaired by the Prime Minister Narendra Modi, has given its approval to the agreement on coastal shipping between India and Bangladesh to carry out coastal movement of goods between the two countries. Exim trade between India and Bangladesh would be benefited by way of reduction in freight charges. It will also improve the utilization of port capacities of Indian ports and open up new opportunity for Indian coastal vessels. It will also help in decongestion of roads especially at the Land custom stations/integrated check posts at the Indo-Bangladesh border. The Indian ports serving as transshipment ports for Bangladesh cargo will derive benefits by way of enhanced throughput as a result of Indo-Bangladesh coastal ...
Amendments regarding ports for coastal Trade
Dated February 16, 2015 | Copy of | Notification No.24/2015-Customs (N.T.) | In exercise of the powers conferred by clause (d) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following further amendments in the Notification of the Government of India in the Ministry of Finance,(Department of Revenue) number 64/94-Customs (N.T), dated the 21st November, 1994, namely:- In the said notification,- (a) after the second proviso, the following proviso shall be inserted, namely:- “Provided also that Bhogat port is appointed to be coastal port for carrying on of coastal trade in crude petroleum: (b) in the TABLE, against serial number 5 relating to the State of Gujarat, ...
