Indian government announces measures to reform shipping industry
The Dollar Business Bureau The Indian government has taken a slew of measures to help revive India’s shipping industry and more reforms are likely to be announced soon to help speed up the transformation. India’s merchandise trade is heavily dependent on seaborne trade and ports. According to the Shipping Ministry, India’s shipping industry accounts for around 95% of India’s total merchandise trade by volume and 70% in terms of value. Meanwhile, total cargo traffic in India is forecast to grow to around 1,758 million metric tonnes (MMT) by 2017, up about 92% from around 911.5 MMT in 2012. However, complicated procedures, lack of connectivity and slow paperwork has prevented the shipping industry from transforming itself and meet growing needs. ...
Indian Railways freight traffic increases to 357.57 million tonnes in April-July 2014
The Dollar Business Bureau | @TheDollarBiz Ministry of Railways is targeting total freight loading of 1,101 million tonnes in FY2014-15 Revenue earning freight traffic carried by Indian Railways has increased to around 357.57 million tonnes during April - July 2014, which is up about 14.57 million tonnes or about 4.2% from 343 million tonnes recorded during the same period last year, according to India’s Ministry of Railways. In July 2014, the revenue earning freight traffic carried by Indian Railways stood at around 89.89 million tonnes, up about 3.68 million tonnes or 4.27% from 86.21 million tonnes carried by the Indian Railways during the same period last year. The Ministry of Railways is targeting total freight loading of 1,101 million tonnes in ...
