Infrastructure status for logistics sector to boost investment
The Dollar Business Bureau The Government has granted infrastructure status to the logistics sector, which covers warehousing and cold chain facilities, a step that would to attract more investment at remunerative rates for these segments. “The Logistics Sector has been granted Infrastructure status. It will enable the Logistics Sector to avail infrastructure lending at easier terms with enhanced limits, access to larger amounts of funds as External Commercial Borrowings (ECB), access to longer tenor funds from insurance companies and pension funds and be eligible to borrow from India Infrastructure Financing Company Limited (IIFCL),” Finance Ministry said in a statement on Monday. Due to the higher cost of logistics in India as compared to developed nations, the need has been felt for the ...
Export warehousing facility to come up in Ahmedabad
The Dollar Business Bureau In order to facilitate the trade and industry, Central Board of Excise and Customs (CBEC) has extended the facility of export warehousing to Ahmedabad district in the state of Gujarat. “Board is of the view that extension of the facility of export warehousing to Ahmedabad district in the state of Gujarat would facilitate the trade and industry,” CBEC said in a circular (No 1051/39/2016-CX) on Thursday. The Board has extended the warehousing facility to Ahmedabad after examining the specifying conditions, procedures, class of exporters and places mentioned under the sub rule (2) of rule 20 of Central Excise Rules 2001. The circular has been notified to all the Principal Chief Commissioners, Chief Commissioners of Central Excise and Director Generals. According to ...
Persisting challenges hurt warehousing sector
Deepak Kumar Though India’s warehousing industry has undergone a paradigm shift in the last 15 to 20 years, more so with the introduction of e-commerce players in the Indian warehousing industry, there are persisting challenges that the government and the industry can overcome by addressing it together, remarked several industry analysts on Wednesday. Addressing The India Warehousing Show 2016 in New Delhi on Wednesday, several analysts said the growth of late has been substantial, and the current level of logistical developments when compared to previous years, is evident across the country. The government has also initiated plenty of projects to further develop the country’s infrastructure, which are not upto the mark. Obstacles, such as non-implementation of Goods and Service Tax (GST), the government’s ...
Industry body proposes freight villages to reduce logistics cost for traders
The Dollar Business Bureau An industry body has sent a proposal to the government for the setting up of freight villages that will help traders to reduce logistics costs by providing an umbrella of services. “Freight villages are logistics concentration points, which are developed at strategic locations to provide various logistics-related activities such as warehousing, packing, re-packing, break-bulk centre, and truck parking, said ASSOCHAM (The Associated Chambers of Commerce of India), which has submitted a proposal to Transport and Shipping Minister Nitin Gadkari. The concept of freight village is based on the European model of clustering related logistics activities, the ASSOCHAM said. In Europe, freight villages are usually operated under public-private partnership mode. According to the proposal, an area closer to a merging point ...
