MUM-08-10-2020

Page 1

YEARS

Vol. LX No. 179 th THURSDAY 8 OCTOBER 2020

See Pg 3

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Adarsh Hegde appointed Managing Director of Gati-KWE Assumes new responsibilities even as he continues to lead Allcargo Logistics as Jt. Managing Director MUMBAI: Mr. Adarsh Hegde, Jt. Managing Director, Allcargo Logistics, has been appointed as the Managing Director of Gati-KWE which is a 70:30 joint venture between Gati Ltd. and Kintetsu World Express (KWE), Japan. Gati-KWE is one of the most important subsidiaries, handling the key business of Gati Ltd., which is the listed company. “I have obser ved Adarsh’s journey of being an outstanding leader who has been spearheading some of our most important business verticals at Allcargo. I have no doubt that he will continue to offer his best to help accelerate the transformation of Gati over the years”, says Shashi Kiran Shetty, Chairman, Allcargo Logistics and Gati Limited. Gati, with its diversified portfolio of businesses in logistics has the potential to further Allcargo’s intent to be among leaders in India’s logistics market. In his role as the Managing Director at Gati-KWE, Mr. Hegde will oversee the strategic and operational aspects of all the businesses and be involved in the implementation

and execution of the transformation project that is currently underway. “As I take over this new role, I am grateful for the opportunity and excited at the possibilities we have yet to explore because I see great potential in Gati-KWE’s expertise in the business as well as the Mr. Adarsh Hegde team’s passion for delivering excellence”, said Adarsh Hegde, Jt. Managing Director, Allcargo Logistics, on his appointment. Mr. Hegde will report directly to Mr. Shetty and work closely with Bala Aghoramurthy, Dy. Managing Director, Gati and Rohan Mittal, Chief Financial Officer and Chief Transformation Officer, Gati, along with an outstanding leadership team and a very dedicated work force. Established in 1989, Gati is the pioneer in India’s express transportation segment and has been one of the largest in this industry.

Export growth can be boosted by Trade shows signs of rebound from addressing policy constraints and COVID-19, recovery still uncertain glitches: Export-Import Bank of India MUMBAI: An immediate refund of Goods and Services Tax (GST) can increase the overall GDP by 2 per cent, exports by 7 per cent, aggregate imports by 6 per cent and overall employment by nearly 4 per cent, according to a new study by Export-Import Bank of India. Cont’d. Pg. 2

GENEVA: The WTO now forecasts a 9.2% decline in the volume of world merchandise trade for 2020, followed by a 7.2% rise in 2021 (Chart 1-See Pg. 2). These estimates are subject to an unusually high degree of uncertainty since they depend on the evolution of the pandemic Cont’d. Pg. 2 and Government responses to it.


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