AISATS and YIAPL sign Concession Agreement to build Multi-Modal Cargo Hub at Noida International Airport

NOIDA: Air India SATS Airport Services Private Limited (AISATS), a leading airport services company in India, and Yamuna International Airport Private Limited (YIAPL), a special purpose vehicle formed by Noida Airport concessionaire Zurich AG, have signed a concession agreement to build a state-of-the-art Multi-Modal Cargo Hub (MMCH) at NoidaInternationalAirport.

Sanjay Gupta, CEO of AISATS, and Christoph Schnellmann, CEO of YIAPL, signed the agreement at a ceremony held on May 30, 2023, atNoida.

The MMCH, spanning across 87 acres, will be a pioneering facility in

India that comprises an Integrated Cargo Terminal (ICT) and an Integrated Warehousing & Logistics Zone (IWLZ). Thestrategiclocationofthisfirst-of-its-kind cargohubwillseamlesslyconnectmultiple modes of transportation with consolidated ancillary and value-added services, establishing a highly efficient route for cargo throughput across India and abroad. AISATS has been entrusted with the responsibility of designing, building, financing and operating the MMCH, further emphasizing its significance in transforming the logistics and cargo industry. Through this facility, AISATS aims to provide India’s logistics sector with a worldbeating cargo processing and transportationgridthatwillhelpreduce logistics costs significantly, streamline processes for seamless coordination, andbringspeedandtransparencytothe country’ssupplychain.

Nipun Aggarwal, Chairman of AISATS, said, “Air India sees tremendous growth opportunities in Uttar Pradesh and is keen to provide seamless cargo connectivity within the state to power this growth. The AISATS MMCHatNoidawillplayanintegralpart in providing just-in-time cargo facilities for the North India region and will support in levelling up the Indian logisticsandaircargosectorswithstateof-the-art infrastructure, value-added servicesandimprovedcostefficiency.”

Standard Chartered : India’s goods exports to touch $773 billion by 2030

MUMBAI: India’s goods exports to grow at an annual rate of 7.5 percent, outpacing the global average growth of 5 percent, to reach $773 billion by 2030, Standard Chartered said in a report. India’s newly unveiled Foreign Trade Policy 2023 targets to increase goods and services exports to $2 trillion by2030.

The country’s exports jumped to an all-time high of over $770 billion in 2022-23. This included $447 billion of goodsexports.

“Astheglobaleconomyfullyreopens and cross-border trade accelerates, South Asia region is at the heart of global trade growth and is perfectly positioned to be an export powerhouse drivenbyIndiaanditsdominanceinkey sectors like textiles, metals & minerals, Chemicals & Pharmaceuticals,” GauravBhatnagar,HeadofTradeand Working Capital, India & South Asia forStandardChartered hasnoted.

This growth, as per the report, will ride on the back of exports of goods to Turkey, Vietnam and Indonesia, which are among some of the highest-growing trade areas for the country, while exports of goods to the US, Mainland ChinaandtheUAEwillbethehighestby volume.

India’s FTAs with the UAE and Australia, which have recently come into force, are further increasing its competitiveness as a manufacturing and export powerhouse, the report has noted.

India is expected to grow its exporting sectors by supporting innovation and capacity expansions, as well as building sector ecosystems, the reportsays.

The theory was supported in a recent Reserve Bank of India article, released on May 22, which had said that India has become a key supplier to the world with its increasing specialisation and competitiveness, helping the country ride the current trend of diversification of supply chains.

The report also adds that India is expected to be the fastest-growing export destination, overtaking South Korea,GermanyandVietnamby2030.

To channel greater capital into its manufacturing sector, the government has recently allowed up to 100 percent foreign holding under the ‘Make in India’ initiative, in sectors from metals and mining to telecommunications and agriculture.

This liberalisation in India’s key sectors, the report says, is expected to increase the market’s attractiveness as a FDI destination, and draw in the capital required to rapidly transform the key sectors. Capital inflows from Japan, Singapore, the UK and the UAE are expected to increase over the next fiveyears.