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uncertainty : Report
NEW DELHI - India’s exports may see a warm growth this year as the country’s major export markets are forecasttodeclinesharplyin2023,theGovernmentsaid.
In2022,theglobaltradegrowthfell,anditisexpectedto remain low in 2023 with a further decline in volume and valueoftradeonthebackofslowingglobaloutput,”India’s MinistryofFinancesaidinmonthlyeconomicreport.
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As per the report, High frequency indicators suggest monetary tightening has started weakening global demand and this may continue in 2023 as various agencies haveforecastedadeclineinglobalgrowth.
The monthly economic report released recently also highlightsthatbesidesmonetarytightening,uncertainties from the lingering pandemic and ongoing conflict in Europemayfurtherdampenglobalgrowth.
The report further adds that while inflation risks look set to diminish in 2023/24, geopolitical tensions and consequentsupplychaindisruptionsmaynot.
Despite the prospect of tepid export growth, the International Monetary Fund (IMF) and the World Bank project India to be the fastest-growing major economy in 2023,thereportsaid.
As estimated by IMF India will grow at 6.1% in 2023 while the World Bank estimates the country’s growth for nextyearat6.6%.
If El Nino predictions are accurate, monsoon rains in India could be deficient leading to lower agricultural outputandhigherprices,thereportsaid.
The Reserve Bank of India is mandated to keep retail inflation within its tolerance band of 2%-6%. Data released last week showed India’s annual retail inflation in January rose above the central bank’s upper threshold for the first time in three months to 6.52% from 5.72%inDecember.
Special Secretary, Logistics visits Visakhapatnam Port Authority
VISAKHAPATNAM : Sumita Dawra, Special Secretary, Logistics, Ministry of Commerce, visited Visakhapatnam Port Authority (VPA). Mr. K. Rama Mohana Rao, Chairman, VPA, welcomed the Special Secretary.
During her visit, VPA Chairman K. Rama Mohana Rao, explained the infrastructure facilities available in VPA, the process of exports and imports, cargo handling capacity, modernisation and mechanisation of
VPABerths,theportsaidinarelease.
The Special Secretary discussed the status of the Rail, Road and evacuation infrastructure, development of multi-modal logistics for Visakhapatnam Port undertaken through the PMGatiShaktiinitiatives.
She also discussed the Container Terminal’s operational performance captured under the Logistics Data Bank (LDB) Project.
The above vessel has arrived on 25-02-2023 at MUNDRA PORT with Import cargo from ABU DHABI, JEBEL ALI. Please note the item Nos. against the B/L Nos. for MUNDRA delivery.
KANDLA-SEZ/GANDHIDHAM
The above vessel has arrived on 25-02-2023 at MUNDRA PORT with Import cargo from ABU DHABI, JEBEL ALI, POTI, ANTALYA, GEMLIK, SAMSUN, TRABZON.
Please note the item Nos. against the B/L Nos. for MUNDRA delivery.
Mundra
Consignees are requested to kindly note that the above item Nos. are for the B/L Nos.arrived for Mundra Delivery Separate IGM will be lodged with Kandla Customs for CFS - Gandhidham. Consignees are requested to collect Delivery Order for all imports delivered at Mundra from our Import Documentation Deptt. at Siddhi Vinayak Complex, 2nd Floor, Off. No.201-208, Opp. Reliance Petrol Pump, Nr. Rotary Circle, on Presentation of duly discharged Original Bills of Lading and payment of relevant charges. The container detention charges will be applicable after 5 days from the GLD for containers meant for delivery at Mundra. The containers meant for movement by ROAD to inland destinations will be despatched upon receipt of required documents from consignees/receivers and the consignees will be liable for paymeant of port storage charges in case of delay in submission of these Documents. Our Surveyors are M/s. Master Marine Services Pvt. Ltd. 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.
- Charges enquiry on land line - 619100
- IGM No./Item No./Destuffing point enquiries can also be done at our computerized helpline No.(079) 40072804
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