GANDHINAGAR: GMB participated in an interactive workshop on the development of the State Maritime and Waterways Master Plan, organized by the Ministry of Ports, Shipping, and Waterways in collaboration with the Mumbai Port Authority, informs a recent communique from GMB.
Gujarat to lead India’s growth story, aims to become$3.5 Trn economy by 2047: CM at FICCI Event
AHMEDABAD: A d d r e s s i n g t h e s p e c i a l session at F I C C I ’ s National Executive Committee Meeting (NECM), Chief Minister Shri Bhupendra Patel underscored
H1FY25 EBITDA stood at 39 crores up 18% over FY24, October records highest ever monthly volumes
MUMBAI: Allcargo Gati Limited (formerly G AT I ) o n e o f I n d i a ’ s leading premier Express Distribution and Supply Chain Management company, has reported its un-audited financial results for the quarter ended 30th September 2024.
Financial Highlights for Express Business
•Augmenting Infrastructure and Technology by embarking on phase II of infrastructure development and launching of new modules of tech pack, further enhancing operational capabilities
•Gross Margin: Gross margin has increased on a YoY basis, for Q2FY25 gross margin stood at Rs. 99 crores up 10% as compared to same period last year
•EBITDA: Continues to show improvement on the back of cost initiatives, for Q2FY25 EBITDA was up 26% as compared to same period last year
Our express business is housed under Gati Express and Supply Chain Pvt. Limited. (GESCPL), formerly known as Gati KWE (GKEPL).
Commenting on the results Mr. Pirojshaw (Phil) Sarkari, Managing Director and Chief Executive Ofcer of Gati Express and Supply Chain Pvt. Limited (GESCPL) said "Our EBITDA for H1FY25 stood at 39 crores recording significant growth of 18% over the last year, highlighting the success of our strategic cost initiatives, further underscoring our operational efficiency. At the same time, we are advancing Phase II of our infrastructure development, which will further boost our capabilities. We are also deploying new tech modules which will help us with greater operational visibility and drive efficiency and innovation. These results underscore our strategy of balancing growth with profitability."
Commenting on monthly business update, Mr. Ketan Kulkarni, Deputy Managing Director, Gati Express and Supply Chain Pvt Limited (GESCPL) said "October 2024 has been a landmark month for Allcargo Gati, as we registered our highest ever monthly volume, with a total of 118kt This marks a significant growth from 108kt in September 2024 and 113kt in the same month last year This milestone is a testament to the hard work and dedication of our team, as well as the continued trust of our customers It underscores our commitment to providing seamless, reliable logistics solutions across both surface and air express services. We look forward to building on this momentum in the months ahead "
Allcargo Gati recently announced roll out of over 1,700 rebranded vehicles, including a range of Alternative Fuel Vehicles (AFVs), across India for first- and last-mile deliveries This initiative aligns with Allcargo Group’s broader rebranding and sustainability goals, aimed at achieving carbon neutrality by 2040 Allcargo Gati remains dedicated to empowering MSME markets by leveraging its extensive transportation network, ensuring reliability and scalability for businesses to reach customers across the country With direct delivery services to over 5,400 pin codes and access to 19,800 pin codes across 735 out of 739 districts in India, Allcargo Gati offers its customers enhanced transit times and delivery efficiency through superior traceability and connectivity. This extensive network provides exceptional reach, especially in tier 2 and tier 3 cities, empowering businesses to scale seamlessly across the country
Celebrating Global Safety Day 2024 at APM Terminals Pipavav
Pipavav - To learn, i s t o b e c u r i o u s
On 7th November, we marked Global Safety Day 2024 by embracing this year's theme of "Being Curious Because We Care" through active leadership and hands-on engagement. It’s a weeklong event packed with lots of activities involving people at all levels. It was an honor to host our Directors, Regional Head, MD and HODs for an insightful leadership Gemba. They toured our operations, including the Quays, Ongoing Projects, Fertiliser bagging area and RORO operations.
The team also visited our maintenance areas, including the Maintenance training DOJO Zone and TWI Factory, where they gained valuable insights into our commitment to operational excellence and innovation.
A key highlight w a s t h e m e a n i n g f u l exchange between our leaders and frontline teams This open dialogue fostered curiosity, r e i n f o r c e d o u r safety leadership,
and emphasized our collective drive for continuous improvement.
“We are truly grateful for the feedback and ideas shared, and we look forward to advancing our safety and operational goals with renewed focus and energy,” said a company release
SHIPPING MOVEMENTS AT GUJARAT PORTS
TODAY’S TIDE 11/11/2024
CJ-I Anna M DBC 14/11
CJ-II ST Andrew B S Shipping 13/11
CJ-III Prince Khaled DBC 12/11
CJ-IV Moonlit Anline Shpg. 14-Jan
CJ-V Propel Fortune Cross Trade 15/11
CJ-VI Nikator Mihir & Co. 13/11
CJ-VII VACANT
CJ-VIII African Grouse Synergy 17/11
CJ-IX African Dormorant DBC 16/11
CJ-X New Endeavor Dariya Shipping 14/11
CJ-XI VACANT
CJ-XII VACANT
CJ-XIII Yangtze Impression Chowgule Bros. 15/11
CJ-XIV African Loon Aditya Marine 16/11
CJ-XV Propel Prosperity ACT Infraport 13/11
CJ-XVA Porto Fiscardo Chowgule Bros. 14/11
CJ-XVI Nav Neha Mihir & Co. 15/11
TUNA VESSEL'S NAME AGENT'S NAME ETD Danae Benline 13/11 Belle Plaine Taurus 12/11 Glorious Sky Taurus 13/11 OIL
OJ-II Seastar 1 V Ocean 12/11
Aaliyah
OJ-V Stolt Sneland J M Baxi 12/11
OJ-VI VACANT
Pacific Talisman 07/11
Commander K 07/11
Pioneer Harmony 07/11 Bangladesh
SCI Chennai 08/11 Pipavav-CochinTuticorin-Kattupalli
VESSELS DUE IN PORT FOR IMPORT DISCHARGE & EXPORT LOADING
DP WORLD MUNDRA
PORT
LOAD FOR EAST, WEST, NORTH & SOUTH AFRICAN PORTS
14/11-PM Maersk Cairo 446S 4103910 Maerssk Line Maersk India Port Casina, Mombasa (MAWINGU)
TO LOAD FOR FAR EAST JAPAN, CHINESE PORTS & AUSTRALIAN PORTS 17/11 17/11-AM Northern Guard 927E - Heung A / WHL Sinokor(I)/WHL Port Kelang, Shekou, Dalian, Shanghai, Ningbo, Hongkong (C16) 18/11 17/11 16/11-PM X-Press Carina 24046E 4114097 X-Press Feeder Sea Consortium Singapore, Dalian, Xingang, Qingdao, Busan, Kwangyang, 18/11 Maersk Line Maersk India Ningbo, Tanjung, Pelepas, Port Kelang (NWX) 20/11 19/11-PM Inter Sydney 167 4104162 Interworld Efficient Marine China (BMM)
TBA Global Feeder Sima Marine Port Kelang, Busan, Gwangyang (CSC)
TBA Asyad Line Seabridge Marine Shangai, Ningbo, Shekou (FEX)
TBA Asyad Line Seabridge Marine Haiphong, Laem Chaban, Jakarta (IEX) TO LOAD FOR INDIAN SUB CONTINENT
11/11 10/11-AM Maersk Cuanza 445W 4103907 Maersk Line Maersk India Colombo (MW2 MEWA)
CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE
11/11 Maersk Cuanza (V-445W) 4103809 Maersk India Nhava Sheva 11/11 CCNI Angol (V-445W) 4103909 Maersk India Jebel Ali 13/11 Oceana (V-931S) 4104020 Unifeeder Ag Jebel Ali
ETA VESSEL’S NAME VCN NO. AGENTS FROM SAILED
17/11 Northern Guard (V-927E) - Wan Hai Line Nhava Sheva 17/11 Northern Guard (V-927E)
Marathopolis(V-445S) Salalah 08-11-2024 X-Press Odyssey(V-24046E) Nhava Sheva 08-11-2024 SM Neyyar (V-445) Jebel Ali 08-11-2024
13/11-PM X-Press Capella 24007E 2404019 KMTC /TS Line KMTC India/TS Line (I) Port Kelang, Hongkong, Sanghai, Ningbo. (CWX) 14/11 12/11 12/11-AM Xin Pu Dong 277E 2403977 KMTC/COSCO KMTC / COSCO Shpg. Port Kelang, Hongkong, Qingdao. (AIS) 13/11 TS Lines Samsara Shpg
12/11 12/11-PM KMTC Dubai 2406E 2404006 Interasia/GSL Aissa M./Star Shpg Port Kelang, Singapore, Tanjung Pelepas, Xingang, Qingdao, 13/11 Evergreen/KMTCEvergreen/KMTC (FIVE)
12/11 12/11-AM Big Breezy 45E 2404081 Wan Hai Line Wan Hai Lines Port Kelang, Jakarta, Surabaya. (SI8 / JAR)
13/11 KMTC / Interasia KMTC (I) / Interasia
12/11 11/11-PM Wan Hai 626 18E 2403933 Wan Hai Line Wan Hai Lines Port Kleang (W), Hong Kong, Qingdao, Kwangyang, Pusan, 13/11 COSCO/Evergreen COSCO / Evergreen Ningbo, Shekou, Singapore, Shanghai (PMX)
13/11 13/11-PM Hyundai Brave 111E 2403820 Hyundai Seabridge Maritime Singapore, Da Chan Bay, Busan, Kwangyang, Shangai. (FIM EAST) 14/11 TO LOAD FOR INDIAN SUB CONTINENT In Port —/— Ever Utile 188E 2403870 FeedertechFeedertech
ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)
FOR
PORT
PIPAVAV PORT
15/11 14/11-1800 GSL Tinos 445W Maersk Line Maersk India Algeciras
29/11 30/11-0001 Maersk Atlanta 446W
TO LOAD FOR FAR EAST, CHINA, JAPAN, AUSTRALIA, NEW ZEALAND AND PACIFIC ISLANDS
In Port —/— Conti Crystal 138E 24361 ONE ONE (India) Port Kelang, Singapore, Haiphong, Cai Mep, Pusan, Shahghai, 12/11 17/11 17/11-0800 One Competence 092E 24369 HMM / YML HMM(I) / YML(I) Ningbo, Shekou (PS3)
17/11 16/11-2100 Xin Ya Zhou 165E 24360 COSCO COSCO Shpg.
(CCG)
Conti Crystal 138E 24361 ONE
SHIPPING MOVEMENTS AT ADANI HAZIRA PORT
Swiss Franc 97.540097.735095.860095.7925
Swedish Kroner
Canadian
Australian
7.96257.97757.79757.7925
Singapore Dollar 64.515064.645063.175063.1300
Hong Kong Dollar 10.975010.997510.755010.7475
UAE Dirham 23.222523.270022.750022.7325
ADANI PORTS & SEZ LIMITED
NOTICE TO CONSIGNEES
m.v. “MSC MARTINA” Voy : JU444R I. G. M. NO. 2392525 Dtd. 07/11/24
The above vessel is arriving at MDPT (MUNDRA) with Import cargo from DURBAN, PORT ELIZABETH, SOHAR.
Please note the item Nos. against the B/L Nos. for MDPT (MUNDRA) delivery.
MUNDRA
Consignees are requested to kindly note that the above item nos. are for the B/L Nos. arrived for MUNDRA delivery. Consignees are requested to collect Delivery Order for all imports delivered at MUNDRA from our Import Documentation Dept. at Office N307, 3rd Fl, New Port Users Bldg NO. 5-A-1 Navinal Island, Kutch - 370421on presentation of duly discharged Original Bill of Lading and payment of relevant charges.
The container detention charges will be applicable after standard free days from the discharge of containers meant for delivery at MUNDRA
The containers meant for movement by road to inland destinations will be dispatched upon receipt of required documents from consignees/receivers and the consignees will be liable for payment of port storage charges in case of delay in submission of these documents. Our Surveyors are M/s. Zircon Marine Services Private Limited. and usual survey conditions will apply. Consignees are also requested to note that the carriers and their agents are not bound to send individual notification regarding the arrival of the vessel or the cargo.
In case of any query,kindly contact Import Customer Service - IN363-comm.mundra@msc.com
Get IGM No. / ITEM No. /CFS details on our 24 hrs computerized helpline No. (IVRS No.) 8169256872
You can also visit our website: msc.com/ind/help-centre/tools/import-general-manifest-information Invoices and Delivery order request must only be done in ODEX portal uploading all supporting documents
Gujarat to lead India’s growth story, aims to become $3.5 Trn economy by 2047: CM at FICCI Event
FICCI stands committed to supporting Gujarat in becoming a $1 trillion economy: Dr Anish Shah, President, FICCI
Cont’d. from Pg. 3
. . . G u j a r a t ’ s
c o m m i t m e n t t o a
r o b u s t , i n d u s t r yfriendly ecosystem, emphasising the state’s policies and other initiatives aimed at promoting i n v e s t m e n t s a n d c r e a t i n g a sustainable growth environment.
“Under PM Modi’s visionary leadership, India is on track to become the third-largest economy, with initiatives like Make in India, Digital India, and Skill India setting the pace for rapid development. Gujarat has been benefitting from his l e a d e r s h i p f o r 2 3 y e a r s a n d transformed itself into a growth engine by turning challenges into opportunities,” he said.
He highlighted Prime Minister Narendra Modi’s Viksit Bharat vision of making India a developed nation by 2047, positioning Gujarat as a key driver in this mission.
Chief Minister Shri Patel engaged with industry leaders on critical issues and shared the Government’s vision for driving economic growth and industrial development in the state and country
He added that the Government’s policy-driven approach has made Gujarat a leader in foreign direct investment and the most preferred
investment destination. He cited massive investments in areas like semiconductors, green hydrogen and renewable energy in Gujarat.
“The roadmap for Viksit Gujarat by 2047 to contribute to Viksit Bharat is ready We are committed to taking Gujarat’s economy to $3.5 trillion by then. FICCI is a catalyst for economic growth I am confident it will immensely contribute to Viksit Gujarat for a Viksit Bharat,” he added.
On occasion, Dr. Anish Shah, President, FICCI, praised Gujarat’s achievements and leadership role in India's growth story “Gujarat has been at the forefront of India’s economic journey With only 5 per cent of the population, it contributes 8 per cent to national exports, 30 per cent to merchandise exports, and 40 per cent to maritime cargo. Its annual growth rate of 12 per cent over several years represents an e x t r a o r d i n a r y a c h i e v e m e n t
As we work towards the $32 trillion Viksit Bharat vision for 2047, Gujarat’s infrastructure positions it as a critical gateway for trade. FICCI stands committed to supporting Gujarat, which accounts for 10 per cent of India’s GDP and is becoming a $1 trillion economy,” he said
“We extend our heartfelt gratitude to the Government of Gujarat for sharing their vision FICCI is honoured to partner with Gujarat and looks forward to deepening this collaboration in the coming years.”
Mr Rajiv Gandhi, Chair of FICCI’s Gujarat State Council and CEO & MD of Hester Biosciences, described Gujarat as a beacon of industrial progress. He said: “While FICCI is India's leading voice towards advocating policies to the Government, Gujarat plays a key role in leading India's growth story The synergy between policy and industry has enabled us to make strides in diverse sectors that drive e c o n o m i c g r o w t h a n d c r e a t e meaningful livelihoods and a better standard of living, as envisioned by honourable PM Modi.”
During the meeting, Mr Harsha Vardhan Agarwal was announced as the President-Elect of FICCI.
The FICCI National Executive C o m m i t t e e M e e t i n g s a w t h e participation of key industry figures and other stakeholders and witnessed discussions on opportunities and strategies to address industry challenges, catalysing economic advancement and reinforcing Gujarat’s leadership in the national economy.
PM Modi announces new Airport near Vadhavan Port in Maharashtra
MUMBAI: Prime Minister
Shri Narendra Modi recently announced that the Government will soon begin work on a new airport near the ambitious Vadhavan Port project in Maharashtra, valued at Rs. 76,220 crore. The announcement was made during the launch of the State election campaign for the BJP-led alliance in Dhule district.
The plan to construct the airport had been initially demanded by former Chief Minister and BJP leader Shri Devendra Fadnavis, revealed Modi. He assured that the request would be fulfilled as soon as the election code of conduct for the ongoing Maharashtra elections is lifted. The Prime Minister added that
Government to finalise the project details.
The Vadhavan Port, approved by the Union Cabinet in June 2024, is set to become the largest port in India. It will be developed as a deep-draft, allweather greenfield major port in Palghar district. The port is expected to create significant economic opportunities and enhance trade in the region.
The port development will be managed by the Vadhavan Port Project Limited (VPPL), a Special Purpose Vehicle (SPV) jointly owned by Jawaharlal Nehru Port Authority (JNPA) with a 74 per cent stake and
the Maharashtra Maritime Board (MMB) holding 26 per cent.
In his speech, Modi emphasized the focus of both the Union and the State Government on large-scale infrastructure projects. He criticised the Opposition parties for allegedly attempting to hinder the progress of s u c
o highlighting the Government’s commitment to improving India’s infrastructure.
In another rally held in Nashik, P M M o d i a l s o a d d r e s s e d t h e concerns of onion growers, stating that the Government had revised its export policies in response to d e m a n d s f r o m t h e f a r
community.
CBIC relaxes norms for Customs Cargo Service Providers
NEW DELHI: The Central Board of Indirect Taxes and Customs (CBIC) Friday reduced insurance requirement for stored custom cargo to five days from 10 days.
It also streamlined licence requirement for Customs Cargo
This period has been reduced to 5 days, enhancing cash flow for these entities by lowering costs, the finance ministry said in a statement issued recently
CCSPs meeting international
operational standards (AEO) will no longer need to undergo license r e n e w a l f o r h a n d l i n g g o o d s . Their licenses will be synchronized with their AEO authorization, easing business operations for logistics operators.
m.v. “MSC MONICA III” Voy : JU445R I. G. M. NO. 2392602 Dtd. 08-11-24
The above vessel is arriving at MDPT (MUNDRA) with Import cargo from ABU DHABI, ANTALYA, BAHRAIN, BARCELONA, DAMMAM, GEMLIK, GIRESUN, SHUWAIKH, SINES, SOHAR, TRIESTE, TUNIS, UMM QASR PT, VALENCIA, VITORIA.
Please note the item Nos. against the B/L Nos. for MDPT (MUNDRA) delivery.
MUNDRA
Consignees are requested to kindly note that the above item nos. are for the B/L Nos. arrived for MUNDRA delivery. Consignees are requested to collect Delivery Order for all imports delivered at MUNDRA from our Import Documentation Dept. at Office N307, 3rd Fl, New Port Users Bldg NO. 5-A-1 Navinal Island, Kutch - 370421on presentation of duly discharged Original Bill of Lading and payment of relevant charges.
The container detention charges will be applicable after standard free days from the discharge of containers meant for delivery at MUNDRA
The containers meant for movement by road to inland destinations will be dispatched upon receipt of required documents from consignees/receivers and the consignees will be liable for payment of port storage charges in case of delay in submission of these documents. Our Surveyors are M/s. Zircon Marine Services Private Limited. and usual survey conditions will apply. Consignees are also requested to note that the carriers and their agents are not bound to send individual notification regarding the arrival of the vessel or the cargo.
In case of any query,kindly contact Import Customer Service - IN363-comm.mundra@msc.com
Get IGM No. / ITEM No. /CFS details on our 24 hrs computerized helpline No. (IVRS No.) 8169256872
You can also visit our website: msc.com/ind/help-centre/tools/import-general-manifest-information
Invoices and Delivery order request must only be done in ODEX portal uploading all supporting documents
As Agents :
MSC AGENCY (INDIA) PRIVATE LIMITED
Office N307, 3rd Fl, New Port Users Bldg NO. 5-A-1 Navinal Island, Kutch, Mundra - 370421, (INDIA) Tel. : +91 2838615501 • Telefax : +91 2838271003
Trump's trade stance may benefit India, Asean: Moody's report
MUMBAI: India and ASEAN countries are likely to benefit under the Trump administration in the United States as trade and investment flows will drift away from China, according to a report released by global rating agencyMoody'srecently.
"In the Asia-Pacific region, trade and investment flows might be further diverted away from China as the US tightens investments in strategic sectors, which would negatively affect China's economy and consequently dampen regional growth," the report stated.
This shift is expected to favour India and ASEAN (The Association of Southeast Asian nations) countries. However, continued US-China p o l a r i s a t i o n c o u l d i n t e n s i f y geopolitical divides in the region,
increasing risks of disruption to the global supply of semiconductors, the report added.
Donald Trump defeated Kamala Harris in the US Presidential election on November 6.
" I n a s e c o n d T r u m p administration we expect large fiscal deficits, protectionist trade actions, climate-measure rollbacks, a stricter stance on immigration, and easing regulations," the report noted. Fiscal deficit and debt will record a significant increase in the United States due to the impact of policies proposed by Trump. His protectionist trade approach could disrupt global supply chains and negatively impact industries that depend on imported g o o d s . A d d i t i o n a l l y , t h e administration's climate agenda is
likely to shift away from current policies to emphasise the role of fossil fuels in achieving "American energy dominance," and delaying the transition to a low-carbon economy, the report mentioned.
Trump is also expected to adopt stricter immigration policies, "including increased deportations, the construction of additional border barriers, stricter visa regulations, and reduced asylum grants" which could lead to labour shortages in sectors like agriculture, retail, hospitality, construction, and healthcare that depend on immigrant workers.
The International Monetary Fund (IMF) has projected a growth of 2.8% in 2024 for the United States in its latest economic outlook. For India, the projection is 7% in 2024-25.
India's decision to opt out of RCEP agreement strategically sound: GTRI
NEW DELHI: India's decision to opt out of the trade bloc RCEP was strategically sound as the country has the largest trade deficit and trust issues with China, think tank GTRI said recenlty. India's trade deficit with China stood at over USD 85 billion in FY2024
"Had India joined RCEP, the situation could have worsened drastically, as it would face zero-tariff imports from China, risking further imbalance, " the Global Trade Research Initiative (GTRI) said.
In 2019, India announced that it would not join the China-backed mega free trade agreement -- Regional C o m p r e h e n s i v e E c o n o m i c Partnership (RCEP) as negotiations failed to address New Delhi's outstanding issues and concerns.
"India's decision to opt out of the RCEP was strategically sound, as subsequent developments have validated its concerns over potential
increasingly favours China over other member nations," GTRI founder Ajay Srivastava said.
The remarks assume significance a s N i t i A a y o g C E O B V R Subrahmanyam has recently stated that India should be a part of the Regional Comprehensive Economic Partnership and Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
It added that a major worry for India has been the rising trade deficits of RCEP members with China.
"This trend, rather than showing signs of improvement, has worsened post-RCEP ASEAN's trade deficit with China grew sharply from USD 81.7 billion in 2020 to USD 135.6 billion in 2023," GTRI said.
Japan's deficit doubled, and for the first time, South Korea is projected to experience a trade deficit with China this year, it added.
This indicates that RCEP's gains are disproportionately skewed toward China, leading to unfair competition and validating India's fears that joining would lead to a surge in Chinese imports without corresponding benefits, it said.
India already has robust free trade agreements (FTAs) with 13 out of 15 RCEP members, excluding New Zealand and China.
Consequently, the expected benefits from RCEP would have been marginal for India, particularly considering China's opaque trade practices and its history of flooding markets with subsidised goods, Srivastava said.
"I have not seen solid arguments for how joining RCEP would benefit India Most arguments do not go beyond the idea that opening up the economy is good. But why open to a country with which we have the largest trade deficit and trust issues," he added.
Adani Gangavaram Port achieves a new record in Timber Log Handling
VISAKHAPATNAM:
A d a n i G a n g a v a r a m
Port, the deepest and one of the most modern ports in India recently set a new record of timber log handling on consecutive days of handling 4,392 metric tons and 4,206 metric tons of timber logs for the vessel MV Mangusta The port surpassed its previous record of 2,900 metric tons in a single day by 52% on growth.
The port has been able to surpass its previous records as management has made strategic investments in infrastructure for efficient cargo handling and railway facilities.
The port expects to set further operational records in FY24 and deliver Industry Best Services to its customers. Adani Gangavaram Port’s operational expertise and the c a p a b i l i t y o f i t s a d v a n c e d infrastructure, which enables high productivity and prioritizes safety
The port team’s dedication and efficiency underscore the facility’s ongoing commitment to optimizing performance and supporting the growing demands of the shipping and logistics industry
Speaking on the occasion, Adani G
management said “We are extremely delighted on this achievement. We at
Adani Gangavaram Port always strive to provide the best service to our customers We offer substantial economic benefits to Indian importers combined with highly efficient port operations and evacuation systems with faster turnaround time & delivery. We are extremely happy to see the trade derive benefits from the modern deep-water infrastructure at the port ”
Piyush Goyal launches EEPC India's 70th year celebrations, calls for transforming India into a powerhouse of Engineering exports
NEW DELHI: Union Minister of C o m m e r c e a n d I n d u s t r y, Shri Piyush Goyal launched
EEPC India’s 70th year celebrations and also unveiled the EEPC India logo in New Delhi. During his address he highlighted the Government’s efforts to reduce compliance burdens and decriminalise laws to promote Ease of Doing Business. Minister of State for Commerce & Industry, Shri Jitin Prasada also graced the event with his presence.
Shri Goyal emphasised the need to transform India into a powerhouse of engineering exports as the country advances towards the Viksit Bharat goal. Speaking to members of the engineering fraternity at the event marking the 70th anniversary of EEPC India, the Minister stated that achieving Viksit Bharat’s vision involves transforming India into a developed nation that needs the e n g i n e e r i n g f r a t e r n i t y t o demonstrate their commitments towards resilient supply chains and high-quality production of goods along with collective commitment towards a sustainable future.
Calling EEPC India the model export promotion council, Shri Goyal lauded the organisation for its
contributions to different sectors of engineering. Whether it is mobility, capital goods sector or steel industry, EEPC India has played a very important role in the growth of the nation’s capabilities, he said Regarding EEPC India's goal of reaching exports of US$300 billion in the next 5-6 years, he noted that this target represents the courage and conviction new India demonstrates before the world.
E v o k i n g P r i m e M i n i s t e r
Shri Narendra Modi’s mantra of ‘Zero Defect and Zero Effect’, h e e m p h a s i s e d q u a l i t y a n d sustainability are going to define India to the world. High quality and productivity and cost competitiveness is going to define the nation's journey towards Viksit Bharat We want to be second to none in our ambition, mission and vision, he said EEPC India Chairman Shri Arun Kumar Garodia, speaking at the event, affirmed that as the p r i m a r y b o d y f o r p r o m o t i n g engineering exports, EEPC India would continue to lead efforts to expand the sector’s global presence, advocate for favorable policies, and assist members in navigating international markets.
H e e m p h a s i s e d t h a t t h e
Ministry's initiatives, such as Bharat Mobility, the International Engineering Sourcing Show (IESS), Indian Engineering Exhibitions (INDEE), Export Excellence Awards, Quality Awards, Green Awards, and India pavilions, underscore the G o v e r
t to innovation and sustainability These initiatives, he noted, are crucial for ensuring that Indian engineering products meet high global standards and remai
competitive in a rapidly changing market.
The EEPC India Chair man observed that the Export Promotion Council had achieved numerous milestones over the last 70 years and would strive to make the next 70 years e v e n m o r e r e m a r k a b l e . He highlighted that EEPC India's support for manufacturers and exporters had contributed to the sector’s $109 billion exports in FY24 and advanced the Make in India
automotive, electronics, and medical devices. He noted that EEPC India's membership had grown significantly over the decades, reaching 9,500 members in 2024 from just 40 in 1955.
CBIC asks Customs Ofcers to complete inquiry in commercial fraud cases within a year
NEW DELHI: The CBIC has asked customs field formations to disclose the specific nature of inquiry being undertaken while issuing letters/summons in export/import fraud cases and also complete i n v e s t i g a t i o n s w i t h i n a y e a r In an instruction, the Central Board of Indirect Taxes and Customs (CBIC) said officers must maintain a "balanced" approach during an investigation into tax evasion in i m p o r t o r e x p o r t o f g o o d s -generally referred to as commercial intelligence/fraud (CI) cases -to avoid disr uption in ease of doing business
The CBIC said before initiating an investigation, it is desirable that an analysis of all information, and crossc h e c k i n g a v a i l a b l e d a t a b e undertaken to minimise interface
with the importer/exporter
Within the jurisdiction of the commissionerate, the commissioner is responsible for developing and a p p r o v i n g a n y i n t e l l i g e n c e , investigation, and its completion.
"A CI case investigation must reach the earliest conclusions which is normally not more than a year," the CBIC said in the instruction issued on November 1
CBIC Chairman Sanjay Kumar
A g a r w a l s a i d t h e g u i d e l i n e s underline the approach of minimal disruption during investigations of CI fraud cases.
"These measures are designed to maintain transparency, reduce unnecessary delays and create a m o r e b u s i n e s s - f r i e n d l y environment..," Agarwal said in a letter to CBIC officers.
After the initial decision to conduct an investigation, customs officers may seek documents from the exporter/importer, preferably by writing a letter In seeking in
should disclose the specific nature of the inquiry being initiated, i
(or general) expressions must be avoided.
" W
the officer indicates to the person summoned, the option to attend by an authorised agent," it added.
The CBIC also said the customs commissioner may consider meeting, by appointment, the importer / exporter or his representative wherever a "reasonable grievance" persists in an ongoing inquiry
Forex kitty falls $2.6 billion to $682 billion as of November 1
MUMBAI: Reser ve Bank Of India's (RBI) foreign exchange reserves fell by $2.6 billion to $682.1 billion for the week ended November 1, latest central bank data showed. The central bank likely sold dollars to
prevent a sharp depreciation in the rupee, traders said.
The rupee depreciated 0.01% in the week ended November 1 closing at 84.07 per US dollar, after briefly touching an all-time intraday low
during the week, LSEG data showed.
From the total reserves, foreign currency assets declined $.3.9 billion to $589.8 billion, while gold reserves rose $1.2 billion to $69.7 billion, data showed.
CWC likely to start Warehousing facilities & Private Freight Terminal and Logistics Park in Mehsana
26- October 2024 by Office of Collector, Mehsana in coordination with Office of Divisional Railway Manager, Ahmedabad, Western Railway at Auditorium Hall, Ganpat University, Kherva, Mehsana
Corporation at conclave and presented detailed presentation on “Warehousing & Logistics scenario for Viksit Mehsana and CWC’s role into it”.
During presentation, CWC put forth its intention to
start warehousing facilities along with Private freight terminal and Logistics park in Mehsana and adjoining area to facilitate seamless movement of Export-Import and domestic trade for Viksit Mehsana.
J M Baxi Wins Maritime Education & Training Award at The Maritime Standard 2024
MUMBAI: J M Baxi
Ports & Logistics is proud to announce that it has received the Maritime Education and Training Award at The Maritime Standard Awards 2024. This prestigious recognition highlights the significant impact of the Visakha Institute of Port Management (VIPM), India’s first institute focused on bridging the gap between academic qualifications and essential skills in the maritime sector
Founded in 2011 by the J M Baxi Group, the institution offers industry-oriented programs that combine academic learning with practical, hands-on experience. Students benefit from workshops, guest lectures from industry leaders, and immersive visits to port terminals and organizations preparing themto make strides in India’s maritime and logistics sectors.
Through focused efforts on empowering the youth, J M Baxi Ports & Logistics continues to shape the next generation of maritime leaders and drive the future of the industry.
SCI reports jump in profit to Rs 291.44 crore in Q2
MUMBAI: Disinvestment-bound Shipping Corporation of India Ltd (SCI) reported a multifold rise in its consolidated net profit to Rs 291.44 crore for the second quarter ended September 2024. The shipping company had reported a net profit of Rs 65.73 crore in the corresponding quarter of the previous fiscal, it said in a BSE filing.
SCI’s total income rose to Rs 1,491.23 crore during the
quarter under review from Rs 1,161.89 crore in the yearago period.
Total expenses also increased to Rs 1,195 crore from Rs 1,113 crore earlier The shareholders of the company approved the dividend of Rs 0.50 per equity share (face value Rs 10/-each).
SCI is the largest Indian shipping company and the only Indian firm engaged in the transportation of LNG
