MUM-12-04-2024

Jeena & Company merges with JBS Group

With an eye on further strengthening its cargo reach, the company ancipates 100% growth

DELHI NCR / AHMEDABAD: Jeena & Company, a global leader in freight forwarding and supply chain solutions, has announced the merger of the 67-year-old JBS Group based in Ahmedabad, Gujarat.

Jeekshith K Shetty elected 1st Co-ordinator of Indian Bunts Chamber of Commerce and Industry - Youth Wing

Indian Bunts Chamber of Commerce and Industry Youth Conference held; Need to empower youth: K.C Shetty

MUMBAI : Indian Bunts Chamber of C o m m e r c e and Industry (IBCCI), a prestigious association of Buntara community businessmen, conducted an IBCCI Youth Conference recently under the Chairmanship of IBCCI Chairman K.C Shetty (Kutpadi Chandra Shetty) at Aden Banquet Hall, Hotel Suncity, Andheri East.

Cont’d Pg. 27

India beneting from growing interest from multinationals: UN report

NEW DELHI: India is benefiting from growing interest from multinationals, which see it as an alternative manufacturing base in the context of developed economies' supply chain diversification strategies, a flagship report by the UN has said, underlining that investment in the country remains strong.

The report said that investment is expected to remain subdued globally.

"In contrast, investment in South Asia, particularly in India, remains strong. India is b e n e f i t i n g f r o m g r o w i n g i n t e r e s t f r o m multinationals, which see the country as an alternative manufacturing base in the context of developed economies' supply chain diversification strategies," it said, in an apparent reference to China.

The report noted that prospects in most developing countries are also weak due to softer external demand, volatile commodity prices, high borrowing costs and fiscal consolidation pressures. "High levels of debt amid subdued growth continue to constrain fiscal space, making it harder for governments to borrow and invest Conflicts hamper investment in parts of Africa and Western Asia," it said

Jeena & Company merges with JBS Group

With an eye on further strengthening its cargo reach, the company ancipates 100% growth

Cont’d from Pg. 3

This strategic move aims to p r o v i d e c o m p r e h e n s i v e l o g i s t i c s e r v i c e s , encompassing both international and domestic sectors.

JBS Group, founded in 1957 by Mr. J B Shah, stands as an ISO-certified, AEO group with diverse entities specializing in Customs Clearance, Multimodal Transport Operations, and IATA cargo handling. JBS Group holds its own Customs Broking License, IATA accreditation, and nearly 30 years of experience in FMC registered Bill of Lading. This addition brings an extra 95 pin codes to the existing 300+ PAN-India pincodes.

Post-merging, J B Shah Logistics will assume the name JBS JEENA Logistics, combining the esteemed legacies of the 67-year-old JBS Group and the 124-yearold Jeena Group. With this development, JBS JEENA Logistics anticipates a 100% projected growth, leveraging the combined expertise and resources of both legacy entities.

As a part of the merger, Jeena & Company will acquire the customers, team, and assets of the JBS Group and expand its Custom Clearance footprint in Gujarat With JB Shah Logistics’ impactful presence in Gujarat, Jeena aims to leverage its freight forwarding business

Speaking on this, Sam Katgara, Partner, Jeena & Co. said, "As a brand, we are moving in the direction that we envisaged and it is giving us positive results. With the merging of the JBS Group, we inked a partnership that

brings together two esteemed, legacy organizations with a rich history and complementary capabilities, positioning us as a leading provider of end-to-end logistics solutions in the region Together as JBS Jeena Logistics, we feel greatly confident to create value for our customers and stakeholdersthroughourcombinedforce "

JBS JEENA Logistics is poised to offer a comprehensive suite of logistics activities, with a strategic emphasis on Projects, Coastal cargo movements, Warehousing featuring 3PL operations, Customs Clearance, and International Freight Forwarding through all modes of transport This collaboration represents a forward-looking approach to meet the evolving demands of the logistics industry

PSA Singapore receives Wellbeing Innovation Award for Championing Mental Wellness in the Workplace

S I N G A P O R E : PSA Singapore has been honoured with t h e W e l l b e i n g Innovation award at the 2024 WorkWell Leaders Awards – an a n n u a l e v e n t o r g a n i s e d b y S i n g a p o r e - b a s e d c h a r i t y Wo r k We l l Leaders – which aims to recognise the bestpractice standards in addressing systemic change for mental health at the workplace.

The award is a testament to PSA Singapore’s commitment to championing mental wellness, as well as listening and caring for our people The winners were decided by a judging panel consisting of senior leaders and experts in organisational well-being and mental health, who assessed PSA’s initiative with having the most unique programme among the shortlisted candidates They commended PSA for its innovative use of data to aid the mental well-being of workers, noting its success in delivering timely and precise support.

Notably, PSA Singapore conducted a comprehensive multilingual well-being survey, meticulously crafted to

capture feedback from over 3,000 employees, including migrant workers, suppliers, and contractors to find out what it could do to provide a psychologically safe working environment. Developed in collaboration with a clinical psychologist and available in the native languages of the employees, this survey was tailored to align with best practices while remaining sensitive to cultural nuances.

Head of Health, Safety and Security, PSA Southeast Asia, Cheang Chee Kit said, “We believe in providing a psychologically safe work environment where everyone feels valued and supported. We aim to prioritise the sensitivity of our people and a psychologically safe environment to share honestly, especially those who are struggling.”

Mr. Sam Katgara, Partner, Jeena & Company and Mr. Samir J. Shah of JBS Group

13/0414/04 TBATBA Sofia Express 4311W P2953 294463-29/03

Indial Indial Shpg. U.K., North Cont., Scandinavian, Red Sea & Med. Ports.

Seahorse Ship U.K., North Continent, Scandinavian Ports & Riga, Klaipede, Tallim, St.Petersburg, Genoa, Valencia, Fos.

Globelink Globelink WW U.K., North Continent, Scandinavian Ports & Ashdod, Piraeus, Thessaloniki, Athens.

TSS L'Global Ag. U.K., North Continent & Scandinavian Ports. Dronagiri-2

AMI Intl. AMI Global U.K., North Cont., Scandinavian, Red Sea & Med. Ports. Dronagiri-3

Kalko Faredeal U.K., North Continent & Scandinavian Ports. Dronagiri-3

Team Leader Team Leader Felixstowe, Rotterdam, Antwerp, Hamburg, Barcelona, JWR CFS Le Havre, Istanbul, Genova.

Safewater Safewater Lines U.K., North Continent, Red Sea & Med. Ports.

Team Global Team Global Log. U.K., North Continent & Scandinavian Ports. Pun.Conware

ISS Shpg. U.K., North Cont., Scandinavian, Red Sea & Med.Ports. ULA CFS (IOS) COSCO COSCO (I) U.K., North Cont., Scandinavian, Red Sea & Med.Ports.

ONE Line ONE (India) Hamburg, Tilbury, Antwerp, Red Sea & Med. Ports.

Gold Star Star Ship Hamburg, Antwerp, Tilbury. Oceangate CFS

Tauro, 25/0426/04 25/04 1100 MSC Danit IS415A U. K. North Continent & Other Mediterranean Ports.

HimalayaExpress

NBCL Axis Shpg. Felixstowe, Rotterdam, Hamburg, Antwerp & All Inland Desti. Dronagiri-1 Service Allcargo Allcargo Log. U.K., North Cont., Scandinavian & Med. Ports. Dron. 2 & Mul. ICC Line Neptune Felixstowe, Hamburg,Rotterdam & other Inland Dest. GDL-3 & Dron-3

GLS Global Log. U.K., North Continent & Scandinavian Ports. JWR

Team Leader Team Leader Felixstowe, Rotterdam, Antwerp, Hamburg, Barcelona, JWR CFS

Global

Log.

Le Havre, Istanbul, Genoa.

Cordelia Cordelia Cont. Jebel Ali, Sharjah, Abu Dhabi, Ajman, Dammam, Jubail, Hamad, Bahrin, Shuaiba, Shuwaikh, Sohar, Umm Qasr.

Alligator Shpg. Aiyer Shpg. Jebel Ali.

BSS Bhavani Shpg. Jebel Ali, Doha, Kuwait, Bahrain, Bandar Abbas. Ashte CFS

Seahorse Ship Gulf Ports.

LMT Orchid Gulf Ports. Dronagiri-3

Bay Line Freight Conn. Port Sudan & Al Sokhna CWC, GDL & DRT

ICC Line Neptune UAE & Upper Gulf Ports. GDL-5

Team Lines Team Global Log. Gulf Ports. Conex Terminal 01/0502/05 TBATBA Hyundai Bangkok 0117W Q0031 294464-02/04 ONE Line ONE (India) Karachi (FIM West Bound)

TO LOAD FOR FAR EAST, CHINA & JAPAN PORTS from BMCT

WEST & SOUTH AFRICAN PORTS from NSIGT

The above vessel has arrived on 11-04-2024 at NHAVA SHEVA (NSIGT) with import cargo from FREEPORT, GRAND BAHAMA, CORNER BROOK, MONTREAL, VERACRUZ, BOSTON, CHARLESTON, HOUSTON, MOBILE, NEW YORK, SAVANNAH.

Please note the item Nos. against the B/L Nos. for NHAVA SHEVA (NSIGT) delivery.

NHAVA SHEVA

Consignees are requested to kindly note that the above item nos. are for the B/L Nos. arrived for Nhava Sheva delivery.

Consignees are requested to collect Delivery Order for all imports delivered at Nhava Sheva from our Import Documentation Dept. at Nhava Sheva - DN210 / DN211 / DN212, D-Wing, 2nd Floor, NMSEZ Commercial Complex, Plot No. 6, Sector - 11, Opp. JNPT Township, Dronagiri Node, Navi Mumbai - 400 707 , India and Mumbai - 1st Floor, MSC House, Andheri Kurla Road, Andheri (East), Mumbai - 400059 on 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 Nhava Sheva. 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. Incase of any query, kindly contact Import Customer Service - (022) 66378123; IN363-imports.mumbai@msc.com

Get IGM No. / ITEM

US Container imports surge from India signalling Supply Chain pivot

NEW DELHI: India is finally m e e t i n g i t s c o m m i t m e n t o f transforming into a burgeoning manufacturing hub and an alternative to China, shifting container lines’ focus and capacity despite spottily improved port infrastr ucture This shift in focus towards India by major container lines reflects a compelling growth story.

The surge in US import volumes from India and the increasing share of inbound containers from the South Asian powerhouse indicate a pivotal moment is underway Major retailers and manufacturers (Tesla, Apple, a n d S a m s u n g ) a r e p o u r i n g investments into India, marking a clear departure from their reliance on China

D e s p i t e c h a l l e n g e s l i k e b u r e a u c r a t i c h u r d l e s a n d infrastructure disparities, India has e m e r g e d a s a m a n u f a c t u r i n g powerhouse in recent decades, gaining traction despite being overshadowed by countries like Vietnam and Mexico.

The share of imports from India at U S p o r t s h a s b e e n s t e a d i l y increasing, albeit from a modest base.

Over the last decade, US imports from India have doubled, reaching the 1 million TEU range, with East Coast ports reaping the largest gains Containerized shipments from India to the US East Coast swelled 132% over the last 10 years. The Port of New York and New Jersey is by far the

largest benefactor, handling nearly 300,000 TEU in 2023, followed by the Port of Savannah, with 170,000 TEU, and the Port of Virgina, at 155,000 TEU, according to PIERS.

Despite India’s current share being a fraction compared to China’s dominance, even marginal shifts away from China translate into significant volumes for ocean carriers and ports, particularly on the US East Coast.

To capitalize on India’s rising prominence, container lines are e x p a n d i n g s e r v i c e s a n d strengthening their presence Investments in Indian ports by global carriers like Mediterranean Shipping Co. (MSC), CGM, and Hapag-Lloyd highlight the growing importance of India in global supply chains.

Mediterranean Shipping Co (MSC) consolidated its marine terminal profile in India by acquiring a 49% stake in the Adani Ennore Container Terminal, near Chennai, for Rs. 247 crore ($30 million). This added to MSC’s 50/50 terminal joint venture with Adani Ports (APSEZ) at Mundra Port, with the largest market share there, and its 49% ownership of a container terminal at Tuticorin Port (South India) that came through the Bollore Africa deal in 2022.

CMA Terminals, which has had a terminal partnership with APSEZ at Mundra since 2017, recently secured concession rights for the oldest container terminal at Nhava Sheva

Port (JNPA) in a partnership with Mumbai-based JM Baxi Group. Last year, Hapag-Lloyd snagged 40% of JM Baxi Ports & Logistics—which has a growing business line for logistics verticals to pursue investment interests beyond port-toport shipping out of India.

Niche regional carriers are enhancing intra-Asia networks to support rising Indian manufacturing as local importers mostly lean on the Chinese market for inputs and also spot an opportunity to turn out finished products in the longer term. That market potential has also prompted mainliners to invest in standalone services connecting I n d i a n p o r t s t o m a j o r A s i a n destinations.

H o w e v e r, I n d i a s t i l l f a c e s challenges in delivering supply chain reliability comparable to its Southeast Asian counterparts or China Infrastructure enhancements and initiatives like dedicated rail corridors aim to bridge these gaps and support India’s expanding manufacturing base.

In conclusion, India’s emergence as a manufacturing and sourcing alternative to China is reshaping c o n t a i n e r g r o w t h d y n a m i c s While challenges persist, India’s economic momentum, backed by s i g n i f i c a n t i n v e s t m e n t s a n d improving infrastructure, positions it as a compelling destination for global trade and container shipping.

Indian Road Logistics industry revenues to grow at 3-6% in FY2025: ICRA

Operating profit margins to remain range-bound at 10.5-12.5% in FY2025 as concerns on cost inflation persist

MUMBAI: ICRA expects the revenues of the Indian road logistics industry to remain range-bound and grow at sedate pace of 3-6% in FY2025, given the limited ability of players to increase the freight rates, expected softening in Government capex during the elections (given the Model Code of Conduct requirements) and moderation in consumer demand sentiments amid high inflation and interest rates The outlook for the sector continues to be Stable, fuelled by a sustained momentum in economic activities, enhanced traction of organised trade and continued support from varied segments like e-commerce, FMCG, retail, pharmaceuticals, and industrial goods.

M r. S u p r i o B a n e r j e e , Vi c e President & Sector Head – Corporate Ratings, ICRA Limited, s a i d : “ICRA’s sample set1 witnessed a modest revenue growth of 2.3% in 9M FY2024 on a YoY basis amidst tapering demand due to high inflation, an uneven monsoon, a high interest rate regime and relatively muted festive season Thus, on an elevated base of FY2023,

ICRA estimates a low single digit growth of 2-5% in FY2024. The growth for road logistics sector in FY2025 is expected to be in the range of 3-6% , owing to the impact on demand from high inflation, high interest rate regime and soft (though improving) consumer sentiment. The industry operating profit margin contracted to 11 2% in 9M FY2024 (down ~150 bps YoY), on account of increase in operating costs (ex-fuel) due to the high inflationary regime, and pressure on realisations, given the sticky retail diesel rates, limiting any formula-driven price rise. ICRA expects the margins to remain in the range of 10.5-12.5% in FY2024 and FY2025 over 12.4% in FY2023 amidst inflationary headwinds and despite benefits of efficiency gains due to increasing digitalisation and valueadded service offerings of industry players. Key debt metrics like Total debt / OPBITDA is expected to have moderated marginally to 1 5x-1 7x in FY2024 from 1.4x in FY2023 with rising operating costs (ex-fuel), given the persistently high inflation levels and increase in debt due to debt-funded

capital expenditure for new vehicles, and anticipated rise in lease liabilities due to expanding branch network and technology investments.”

E-way monthly volumes remained largely stable in the last four months at above 85 million, post reporting all-time high volumes of 100 million in October 2023, signifying resilient domestic trade a n d t r a n s p o r t a t i o n a c t i v i t i e s The monthly FASTag volumes have also moved in tandem with the e-way bills, ranging from 295 to 350 million in the current fiscal, with an all-time peak of 348 million in December 2023, reflecting business continuity “Additionally, road logistics players also remain exposed to environmental and social risks

Tightening emission control norms necessitate alternative fuel vehicle investments or investments in the current fleet. They are also exposed to litigation / penalties arising from issues related to harmful emissions and waste, which may lead to financial implications and impact reputation. The social risk includes driver shortage, health, safety, and quality of work-life balance for drivers,” Mr. Banerjee added.

Skill development crucial in setting up efficient logistics: DPIIT

VADODARA: Capacity building and skill development play a crucial role in establishing efficient and costeffective logistics and infrastructure systems, an official statement said recently

Speaking at a workshop in Va d o d a r a , S e c r e t a r y i n t h e Department for P romotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh highlighted on i n t e g r a t i n g l o g i s t i c s a n d infrastructure development courses into the curriculum of Central Training Institutes (CTIs), State Administrative Training Institutes (ATIs).

It would help officers to better prepare to tackle the complexities of infrastructure development, enhance logistical efficiencies, and contribute significantly to India’s economic growth and development agenda.

India

to

As part of efforts to strengthen India’s logistics and infrastructure sectors, the DPIIT, in collaboration with Gati Shakti Vishwavidyalaya ( G S V ) i n Va d o d a r a , G u j a r a t , organised the workshop.

The workshop was organised with the objective of integrating the principles of PM GatiShakti National Master Plan (PMGS-NMP) and the National Logistics Policy (NLP) into the educational curriculum and training of CTIs and State ATIs.

The workshop aimed to provide a common platform for brainstorming on the pedagogical strategies, curriculum development, and the integration of real-world logistics and infrastructure challenges into administrative training discourse of government officials.

Singh “emphasised the crucial role of capacity building and skill

continue surpassing

development in the logistics sector to establish efficient and cost-effective logistics and infrastructure systems”, the commerce and industry ministry said in a statement.

L ogistics Human Resource Development and Capacity Building is one of the important action items identified under the National Logistics Policy (NLP).

Government officials at all levels have a critical role to play in the successful implementation of the PMGS-NMP and NLP .

To widely propagate the essential principles of the PM GatiShakti, v a r i o u s m e a s u r e s h a v e b e e n undertaken so far, one of which is onboarding of CTIs and ATIs to institutionalise and regularise training and capacity building of government officials on PMGS-NMP principles.

China’s GDP growth

rate for next few years, claims European expert

HAMBURG: Angelos Delivorias, a p o l i c y e x p e r t a t E u r o p e a n Parliamentary Research (EPRS), has predicted that India’s GDP growth rate would continue to be better than that of China for the next few years.

He made the remarks in an interview by EPRS on the rise of ‘India, why it matters, and what this means for the EU.’ EPRS provides comprehensive research and analytical support to the Members of the European Parliament.

“India has surpassed the growth rate of China, and experts think that it will continue doing so, at least in the

short term,” Delivorias was quoted by ANI as saying.

Delivorias highlighted that India’s growth would be fuelled by its comparatively younger population as compared to that of China.

“From the economic perspective, the fact that India is the largest population on the planet, but also its population is younger, if we see the demographic pyramid of India, we see that it’s younger than China’s, implies that it has more people in the labour market and it has less expenditures in the health sectors or for pensions,

which means it can keep growing its GDP in the next few years,” he added

Notably,India’sGDPgrowthaveraged over7.5percentin2023,whileChina’swas 5 2 per cent India’s GDP growth rate is expected to reach 7 per cent by 2026, while China’s GDP growth rate is expected to reach 4.6 per cent. The IMF projects China’s 2024 growth at 4 6 per cent, declining towards 3.5 per cent in 2028.

Delivorias also talked about the initiatives being taken today which will help sustain India’s economic growth. He hailed India’s infrastructure investments.

Paradip Port Advances into Port 4.0 with ID Tech's Innovative Automation Solutions

GURUGRAM: Paradip Port, a pivotal maritime hub, is embracing the future of port operations with ID Tech, a leader in advanced automation. In a transformative collaboration, Paradip Port is leveraging ID Tech's cuttingedge solutions to usher in the era of Port 4.0 innovation. This partnership marks a significant milestone in the port's journey towards modernization and efficiency

Paradip Port Authority (PPA) recognizes the need for seamless management of men, material, and vehicles round-the-clock. To meet this demand, PPA has embarked on a m i s s i o n t o m o d e r n i z e g a t e management systems and optimize c a r g o m o v e m e n t u s i n g l a t e s t technologies. Leveraging ID Tech's solutions, PPA aims to establish intelligent traffic management across the port, significantly elevating operational performance.

modernized the tracking of inward and outward cargo movement by rail/road and movement of people at Paradip Port through the implementation, operation, and management of RFID -based Access Control System along with cloud-based Harbour Entry Permit application software This innovative solution ensures real-time monitoring and recording of cargo movements, and the system also facilitates 24x7x365 movement of men, material, and vehicles while ensuring stringent security measures are in place enabling efficient management and optimization of port activities.

The solution includes Harbour Entry Permit Application Software hosted on main and local servers, facilitating the issuance of RFID-based p e r m i t s a t v a r i o u s p o r t g a t e s Enhanced security is ensured through RFID readers installed at each gate for identification and recording of each

premises. Furthermore, modernization of weighbridges is achieved with boom barriers and vehicle positioning systems installed at each weighbridge to facilitate seamless and rapid movement of vehicles through the unmanned facility

As Paradip Port embraces the future of port operations, this collaboration with ID Tech Solutions underscores a commitment to innovation and excellence. Together, they are paving the way for a more efficient, productive, and technologicallyadvancedmaritimehub

Mr Saurav Khemani, Managing Director of ID Tech Solutions Pvt. Ltd., emphasized the significance of this collaboration, stating, "Our partnership with Paradip Port marks a significant s t e p t o w a r d s a d v a n c i n g p o r t o p e r a t i o n s B y l e v e r a g i n g o u r innovative automation solutions, we are simplifying processes and driving efficiency, thereby contributing to the realization of Port 4.0 objectives."

NYK INDIA PRIVATE

LIMITED

(As Agent of NYK Bulk & Project Carriers Ltd.)

(Formerly known as NYK Auto Logistics (India) Private Limited, in which NYK Line (India) Private Limited has been merged)

CIN No.: U63000MH2004PTC143860 / PAN No. AAACH7663P

The captioned vessel is arriving at MUMBAI on 13/04/2024 with Import cargo.

Consignees expecting import cargoes on the captioned vessel are requested to present their ORIGINAL BILLS OF LADING duly discharged and obtain Delivery Orders. In the event of Mumbai Port Trust directing the shifting of the cargo from quay to a storage area within the docks, the same will be undertaken by the vessel agents at the consignee’s risks and costs. “Stamp duty” is payable as per the directive of the Superintendent of stamps.

Consignees will please note that the Carriers and/or their agents are not bound to send the individual notifications regarding the arrival of the vessel or their cargo.

Consignees are requested to arrange for clearance of the cargo at the earliest on presentation of the packing list to our attending surveyors, as it is noticed that the cargo is arriving without proper Marks & Numbers and the same is also not indicated in the Bills of Lading for which the vessel/Owners/Agents will not be held responsible for the consequences arising thereof.

Consignees requiring steamer survey to be conducted for the goods discharge may contact the agents office for the same.

The company’s Surveyors are M/S. AINDLEY MARINE PVT. LTD.

9 Kamanwala Chambers, 1st Floor, Sir P. M. Road, Fort, MUMBAI- 400001

Tel: +91-22-66359901/2/3 E-mail : Email: ops@aindley.com and the usual survey conditions will apply

General Agent

NYK INDIA PVT. LTD.

Unit No 1205-1208, 12th Floor, Windfall Sahar Plaza Complex, Sir M. V. Road, J.B. Nagar, Andheri-Kurla Road, Andheri (East), Mumbai - 400 059. Contact details: Board : +91 22 - 4613 8181

Website : www.nyklineindia.com

NOTICE TO CONSIGNEES

m.v. “MSC BREMEN” V- IV415A I. G. M. No. 2373893 Dtd. 11-04-24 Exch rate 85.87

The above vessel is arriving on 12-04-2024 at NHAVA SHEVA (NSICT) with import cargo from SHARJAH, SHUWAIKH, BEIRA, CAPE TOWN.

Please note the item Nos. against the B/L Nos. for NHAVA SHEVA (NSICT) delivery.

NHAVA SHEVA

Consignees are requested to kindly note that the above item nos. are for the B/L Nos. arrived for Nhava Sheva delivery.

Consignees are requested to collect Delivery Order for all imports delivered at Nhava Sheva from our Import Documentation Dept. at Nhava Sheva - DN210 / DN211 / DN212, D-Wing, 2nd Floor, NMSEZ Commercial Complex, Plot No. 6, Sector - 11, Opp. JNPT Township, Dronagiri Node, Navi Mumbai - 400 707 , India and Mumbai - 1st Floor, MSC House, Andheri Kurla Road, Andheri (East), Mumbai - 400059 on 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 deliver y at Nhava Sheva. 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 por t 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.

Incase of any query, kindly contact Import Customer Service - (022) 66378123; IN363-imports.mumbai@msc.com

Get IGM No. / ITEM No. /CFS details on our 24hrs computerized helpline No. (IVRS No.) 8169256872

You can also visit our website: www.msc.com/ind/help-centre/tools/import-general-manifest-information As Agents :

CONCOR to gain from dedicated freight corridor : Motilal Oswal Research

M U M B A I : C o n t a i n e r C o r p o r a t i o n o f I n d i a L t d (CONCOR) will be a key beneficiary of the Dedicated Freight Corridor (DFC), which is likely to result in volume growth driven by a modal shift and enhanced operating efficiencies, according to stock brokerage firm Motilal Oswal Securities Ltd. (MOSL).

The DFC connects Dadri to Mundra. The company, according to the brokerage firm, could also benefit

from the shift in volumes from Gujarat ports to JNPT after the entire DFC commissioning, which is likely to be completed in FY2026.

T h e 9 M F Y 2 0 2 4 d o m e s t i c container volumes grew 11 percent YoY, while export import volumes rose 6 percent in the same period. While weak trade volumes due to the geopolitical headwinds hit the export import volumes, the brokerage believes that domestic operations will scale up due to the addition of new

services/commodities for multiple sectors, and a strong network of terminals as well as strategic initiatives such as addition of FMCGled cargo etc. The brokerage expects the company to report blended volumes of around 10 percent CAGR during the FY2024-26 period.

In Q3FY24, Concor reported a 9.5 percent YoY increase in net profit to Rs 333 67 crore in Q3FY24 Q3 revenues also rose 10.3 percent YoY to Rs 2,210.57 crore.

Maharashtra, Karnataka and Gujarat to be $1 trillion economy by FY39: Ind-Ra

MUMBAI: Maharashtra, Karnataka and Gujarat are likely to hit the $1 trillion economy mark by FY39 if the pace of growth in these states remain similar to what was recorded in the past seven years, India Ratings and Research (Ind-Ra) said in a recent report.

To achieve the $1 trillion-mark, Karnataka would require a nominal gross state domestic product (GSDP) growth (in USD terms) of 8.4% annually till the financial year 2038-39. Between FY16 to FY23, Karnataka posted an average annual GSDP growth of 8.4% in nominal dollar terms.

Maharashtra, which is the biggest state economy, can achieve the $1 trillion GSDP feat by FY39 with an average annual growth of 5.5%, while Gujarat requires a growth of 8 3%

These are the same growth that these states have recorded between FY16 to FY23, said Paras Jasrai, Senior Analyst at Ind-Ra.

After Maharashtra, Karnataka and Gujarat, Tamil Nadu would be the next to reach $1 trillion in FY41, if it sustains the estimated nominal GSDP growth (USD terms) of 7.2% same as during FY16-FY23 in the coming years.

However, all these states have set targets to achieve a $1 trillion economy much ahead.

The Maharashtra government has set a target to reach $1 trillion by FY28 To achieve this, Maharashtra’s nominal GSDP (in USD terms) will have to grow at a staggering CAGR of 18.0% during FY24-FY28. Similarly, Gujarat and Karnataka are aiming to reach the $1 trillion mark by FY31 and

FY33, respectively This would require their nominal GSDP (in USD terms) to grow at a CAGR of 17 4% and 13 5%, respectively, from FY24.

Tamil Nadu aims to attain the $1 trillion mark by FY31, for which its nominal GSDP (in USD terms) has to grow at a CAGR of 16.6% from FY24.

Ind-Ra’s estimates show that India w o u l d h a v e e i g h t s u b - n a t i o n a l economies which would hit the $1 trillion mark by FY47.

Uttar Pradesh is estimated to reach $1 trillion by FY42, subject to its nominal GSDP growth (USD terms) growing at an estimated CAGR of 7 1%, like during FY16-FY23 UP though is targeting to attain it by FY28 For this, its nominal GSDP (in USD terms) will have to grow at a CAGR of 29.0% from FY24

Local production of Electronics parts gets a boost, Import of smart phones declines 40%

C H E N N A I : I n d i a ’ s l o c a l manufacturing of electronics is expanding every year, with a significant decrease in imports of key components such as mechanics, vibrator motors, charger adapters, and plastic parts

According to commerce ministry data, imports of fully assembled electronics like smartphones dropped by 40% in the period from April to January FY 2023-24. The government’s decision to reduce import duty on components from 15% to 10% in the recent budget aimed to boost local manufacturing competitiveness

Charger adapters imports witnessed a significant 72% decrease in volume but a

slight 1 3% increase in value from April to January 2024 compared to FY23. Market analysts noted that chargers account for about 2 5% of the total production cost of mobilephones While high-value items such as camera modules, display assemblies, and battery packs were imported in larger quantities last year, there is a growing need to enhance local value a d d i t i o n f o r i m p r o v e d e x p o r t competitiveness Camera module imports increased by 2.3% in volume but decreased by 5 3% in value, while battery pack imports rose by 12% in volume but fell by 13% in value.

The revised HSN code for display assemblies in 2023 led to a significant 200% surge in imports. Semiconductor imports also saw an increase, driven by the demand for premium electronic goods and higher wafer costs.

In the first nine months of the fiscal year, India’s electronics exports soared by 22.24% to surpass the $20-billion m a r k , p r i m a r i l y d u e t o r o b u s t smartphone exports by leading brands like Apple and Samsung.

Notably, iPhones accounted for $7 billion in exports in December 2023, representing 35% of total electronics exports.

ADB raises India's GDP growth forecast for FY25 to 7%

MANILA: The Asian Development Bank (ADB) recently raised India's GDP growth forecast for the current fiscal to 7 per cent from 6 7 per cent earlier, saying the robust growth will be driven by public and private sector investment demand and gradual improvement in consumer demand.

The 2024-25 growth estimate is, however, lower than 7 6 per cent projected for the 2022-23 fiscal Strong investment drove GDP growth in the 2022-23 fiscal as consumption was muted, the ADB said The ADB had in December last year projected the Indian economy to expand 6.7percentinthe2024-25fiscal.

Growth will be robust despite moderating in FY2024 and FY2025, it said. For the 2025-26 fiscal, the ADB has projected India's growth at 7.2 per cent.

The ADB said exports are likely to be relatively muted this fiscal as growth in major advanced economies slows down but will improve in FY2025.

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Jeekshith K Shetty elected 1st Co-ordinator of Indian Bunts Chamber of Commerce and Industry - Youth Wing

Indian Bunts Chamber of Commerce and Industry Youth Conference held; Need to empower youth: K.C Shetty

Cont’d from Pg. 3

S e n i o r a n d r e s p e c t e d businessmen of the Bunta community such as Tonse Anand M. Shetty, Executive Chairman of Organic Industries Private Limited, B Vivek Shetty, Executive Chairman of Vishwat Chemicals Limited, Triveni Group and Rupi Boss Executive Chairman CA.

N . B S h e t t y a n d C h e l l a d k a Kusumodara Shetty (K.D Shetty), Executive Chairman of Bhavani Shipping Services India Pvt Ltd acted as resource persons to guide and advise the young entrepreneurs present.

K . C S h e t t y a d d r e s s o n h i s Presidential speech said that it is truly a pleasure to see, such a dynamic young group of Bunts youth, representing the vibrant spirit and rich cultural heritage of our community As we continue to grow our Chamber of Commerce, we have realized the importance of actively involving the Bunts youth in the recent I n d u s t r i a l To u r t o K a r n a t a k a , highlighted the immense benefit of youth participation thereby gaining valuable

insights and inspiration. Hence, we felt compelled to organize this Convention to encourage our next generation, nation builders to take the reins of the Chamber. Today, in our Chamber, we see the next young generation of Bunts actively involved in various activities This Convention presents a unique opportunity for our Bunts youth to connect with the stalwarts of business in our community.

Anand Shetty said that it is very important to give exposure, build confident and groom the next generations to show the responsibility to take your organization to next level. I congratulate all of you young and bold stars for bunts for participating in this program. I know that all of you are ambitious, brilliant and preparing and ready to start journey for either to take over family business or to start new venture. Here I want state that today you have fabulous platform that enable you to achieve multiples what have been achieve by your father

J e e k h s h i t h K u s u m o d a r a S h e t t y , a Young Entrepreneur and Director of Bhavani Shipping Services India Pvt Ltd, was unanimously elected as the new coordinator of the IBCCI Youth Wing. Vice President S. B Shetty conducted the selection process among the office bearers Working President K C Shetty congratulated all with flower boutique and handed over the power alongwith releasing the IBCCI Bulletin

Shantarama Shetty (Suncity), Advocate Ratnakar

V Shetty, P.K Shetty, Karthik C. Shetty, Siddesh Shetty, IBCCI Ofce Manager Prajnya Shetty and other members were present. Srinivas Shetty proposed the vote of thank, informs the communique

Mr. K.D Shetty addressing the gathering. Mr. Jeekshith K Shetty addressing the gathering.