Indias logistics market to be $307 billion by 2020
The Dollar Business Bureau India’s logistics market is estimated to be worth $307 billion by 2020, stated the Minister of State for Drinking Water & Sanitation, Ram Kripal Yadav on Wednesday. The country spends about 14.4 percent of its Gross Domestic Product (GDP) on transportation and logistics as compared to below 8 percent spent by other developing nations, said Yadav at a conference organised by the ASSOCHAM (The Associated Chambers of Commerce and Industry of India). The Minister said that the creation of dedicated corridors for rail freight will support effective haulage of cargo containers by rail. The key benefit of the dedicated corridor is that freight trains could run on the basis of time tables just ...
New policy to boost Indias medical device industry
The Dollar Business Bureau In a move to strengthen the Indian medical devices industry, the Department of Pharmaceuticals (DoP) has come up with a National Medical Device Policy (NMDP) 2015, aimed at promoting ‘Make in India’ in this industry by reducing dependence on imports. A draft was issued by DoP on June 3, 2015, seeking comments prior to implementation. The policy intends to set up a strong base for manufacturing of medical devices in India, especially for the affordable variety. It comes during a time when the aforesaid industry is dependent on imports from developed nations. According to DoP estimates, global market for medical devices is valued at around $20 billion, with US leading the supply pack with a 45% share, ...
