To achieve 5% world share, Indias exports need to grow at 26%: Report
The Dollar Business Bureau India’s exports must grow at an average rate of more than 26% in the next five years, if the country wants to achieve the ambitious target of 5% share in world exports, according to a study. “However, this would require enhancing product competitiveness, which needs that the infrastructure for trade to be improved including ports infrastructure,” suggested a report ‘Port Logistics: Issues and Challenges in India’ by research firm Dun & Bradstreet. This and several other measures, including ensuring transparency in charges collected by shipping lines and creating a common digital platform, in order to strengthen port logistics and improve trade, recommended by Dun & Bradstreet in its study has been handed over to Commerce & Industry Minister Suresh ...
Indias 12 major ports register a growth of 3.46% during Apr-Nov
The Dollar Business Bureau The cargo traffic at country's major ports have witnessed a growth of 3.46% during April-November 2017 period, with the 12 top ports handling 439.66 million tonnes of cargo. “Major ports in India have recorded a growth of 3.46% and together handled 439.66 million tonnes of cargo during the period April to November, 2017 as against 424.96 million tonnes handled during the corresponding period of previous year,” said a statement by the Ministry of Shipping on Thursday. During the eight-month period, nine ports including Kolkata, Paradip, Chennai, Cochin, Visakhapatnam, Mumbai, New Mangalore, Kandla and JNPT have recorded a positive growth in cargo traffic. Cochin Port has registered the highest growth of 17.93%, mainly due to surge in the traffic of petroleum, oil ...
Major ports register growth of 3.27% during Apr-Oct
The Dollar Business Bureau The major Indian ports have witnessed a positive growth of 3.27% during first seven months of the current fiscal, with the highest growth recorded by Cochin Port at 17.66%. In terms of commodity, the highest growth was recorded in the cargo of petroleum, oil and lubricants (POL) at 34.07%. “The major ports in India have recorded a growth of 3.27% during the period April to September, 2017 and together handled 383 million tonnes of cargo as against 371 million tonnes handled during the corresponding period of previous year, said a statement by Ministry of Shipping. Out of a dozen major ports, eight ports including Cochin, Kolkata, Chennai, Paradip, Mumbai, New Mangalore, Kandla and JNPT witnessed a positive growth in traffic during the ...
Some major ports of India lost over Rs.53.5 crore: CAG
The Dollar Business Bureau Comptroller and Auditor General (CAG) has said that some of the 12 major ports of India, including Kolkata and Mumbai, have lost more than Rs.53.5 crore due to under-recovery or revenue losses. Mumbai Port incurred a loss of Rs.23.10 crore due to failure of revising parking charges, while Kolkata Port witnessed under-recovery of around Rs.13.36 crore, the Government auditor has said in its recent report, which was submitted in the Parliament. “Failure of Mumbai Port Trust (MbPT) to revise parking charges resulted in loss of revenue of Rs.23.10 crore over the past six years on night parking charges alone,” CAG said. The parking charges are fixed under the General Bye-Laws of MbPT and have not been reviewed from a long time, when these were fixed ...
Indias Pavilion at Expo 2017 Astana - A Mega Attraction
The Dollar Business Bureau Based on the theme of ‘Future Energy’, India’s Pavilion at the ongoing international exhibition Expo 2017 in Astana, the capital city of Kazakhstan, is attracting a lot of visitors. The participation of India at the event has been organised by the nodal body of the government to promote country's external trade - India Trade Promotion Organisation (ITPO). The pavilion was jointly inaugurated by L. C. Goyal, Commissioner, India Pavilion and CMD, ITPO and Harsh Kumar Jain, Ambassador of India to Kazakhstan. The Expo, which is being held from June 10- September 10, 2017, is witnessing participation from 100 nations and more than 10 international organisations. The participation of India at this year’s Expo has become quite significant ...
Govt to extend support to promote cruise tourism
The Dollar Business BureauReviewing the operations of Cochin Port Trust, Minister of State (MoS) for Road Transport, Highways and Shipping Pon Radhakrishnan said the ministry will extend adequate governmental support to promote cruise tourism. Radhakrishnan also appreciated the steps taken by Cochin Port to install RFID-based Gate Access System and online berth allotment system to facilitate trade and enhance efficiency, an official announcement said. The MoS also noted that the waiver of penal interest has helped to enhance the creditworthiness of Cochin Port, while allowing it to pursue new projects. Expressing interest in promoting the cruise tourism activities of Cochin Port, Radhakrishnan gave his nod for the new cruise terminal project at Ernakulam wharf, which envisages to accommodate cruise vessels in a manner akin ...
Cochin Port to have direct sailing to Far East
Source: PTI The service will be a big help to exporters from Pollachi, Dindigul and surburbs who export coir fibre and related products to destinations near intermediate ports like Ningbo and Chiwan Cochin Port will now have a direct sailing to the Far East with the Galex service commencing the Cochin call in their East bound trip from Friday. The Galex service, a premium Asia-Middle East shipping service which connects a string of major ports from Busan (Korea), Shangai, Ningbo, Chiwan (all China) Singapore, Port Klang (Malaysia), Colombo, Nhavasheva, Mundhra, Jebel Ali, Bandar Abbas (Iran), had started calling at Cochin Port from July this year in its West bound service after Colombo. “The service, which had not touched Cochin in the ...
