MUM-15-04-2024

Pentagon Freight makes strategic investment in Pentafox Technologies to usher in innovation and growth

MUMBAI: Pentagon International Freight Solutions Private Limited (Pentagon Freight) is delighted to announce a strategic investment in Pentafox Technologies Private Limited (Pentafox Technologies), a decision poised to usher in a new era of innovation and expansive growth. Pentafox Technologies, renowned for its pioneering approach in cloud solutions, AI integration, and

Mr. Paresh Bhanushali

Mormugao Port’s N Vinod Kumar to hold additional charge of Chairman, Deendayal Port

NEW DELHI: S h r i N V i n o d Kumar, Chairman, Mormugao Port Authority has been entrusted with the additional charge of Chairman, Deendayal Port Authority, according to an order issued by the Ministry of Ports, Shipping and Waterways.

comprehensive digital transformation services, stands at the cusp of an accelerated developmental trajectory, courtesy of this collaboration.

This investment signifies a crucial pivot for Pentafox Technologies, enabling it to escalate its operational capacities, refine its ser vice offerings, and broaden its international presence. The partnership is grounded in the mutual commitment of both entities to drive technological advancements that solve contemporary digital challenges effectively.

Power Finance Corporation offers to underwrite entire debt of Rs 27,300 crore for the planned Vadhavan Port

NAVI MUMBAI: Power Finance Corporation Ltd (PFC) has offered to underwrite the entire debt of Rs 27,283 crore for the construction of a mega port at Vadhavan near Dahanu in Maharashtra’s Palghar district.

If and when the deal is finalised, it will be the biggest debt financing for a port project in the country.

The planned mega port will be designed to handle some 298 million tonnes (mt) of cargo a year with an investment of Rs 76,220 crore

Shri N Vinod Kumar

Pentagon

Freight makes strategic investment in Pentafox Technologies to usher in innovation and growth

excellence mirrors our investment ethos. We are thrilled to support Pentafox Technologies’ journey towards setting new industry benchmarks."

Cont’d from Pg. 3

Pentagon Freight's ambition to transition into a techsavvy, digitally-forward freight forwarder aligns perfectly with Pentafox Technologies’ expertise in delivering state-of-the-art technology solutions. This synergy underscores the investment, marking a strategic move towards realizing Pentagon Freight's vision of expanding its global footprint through technology

Mr Paresh Bhanushali, Chairman & Managing Director of the Pentagon Group Of Companies, expressed enthusiasm about the collaboration, stating, "Pentafox Technologies has emerged as a pivotal force in the realms of Digital Mobility and Cloud Solutions. Their dedication to pushing the boundaries of innovation and

Vignesh Sankaran, CEO and Co-founder of Pentafox Technologies, echoed this sentiment, emphasizing the investment's significance beyond financial aspects. "This partnership validates our mission and technological prowess, signalling a leap towards greater achievements. It’s a testament to our team’s hard work and the innovative solutions we bring to the market," he said.

The collaboration between Pentagon Freight and Pentafox Technologies is not merely a financial alliance but a strategic partnership aimed at harnessing the power of technology to redefine industry standards and foster positive transformations across various sectors. As Pentafox Technologies embarks on this promising new phase, it is fuelled by a shared vision of leveraging technology to enhance global connectivity and drive unprecedented growth.

Mormugao Port’s N Vinod Kumar to hold additional charge of Chairman, Deendayal Port

Cont’d from Pg. 3

Vinod Kumar replaces S K Mehta, who will step down as Chairman, Deendayal Port Authority, on completing his fiveyear tenure on 16 April.

Vinod Kumar will hold additional charge of Deendayal Port Authority for six months or until a full-time Chairman is picked, whichever is earlier, the Ministry order said.

Power Finance Corporation offers to underwrite entire debt of Rs 27,300 crore for the planned Vadhavan Port

Cont’d from Pg. 3

R R Jha, Director (Projects) and his team from the Power Finance Corporation met Unmesh Wagh, Deputy Chairman and Chairman in Charge of Jawaharlal Nehru Port Authority to discuss financing for the port project, which is awaiting final approval from the Union Cabinet after securing environmental and coastal regulation zone clearance as well as backing from the Public Investment Board.

“PFC’s commitment to finance the entire debt amount signifies a pivotal moment for the development of Vadhavan Port,” informs a recent communique from JNPA Power Finance Corporation, a Maharatna PSU, is a Non-Banking Finance Company (NBFC) which is classified as an infrastructure finance company by the Reserve Bank of India.

An Indian Postal Service (IPoS) cadre officer of the 1994 batch, Shri Vinod Kumar has been Chairman, Mormugao Port Authority since 3 April 2023. Deendayal Port Authority is India’ssecondbiggeststate-ownedportbyvolumeshandled

In FY24, Deendayal Port Authority handled 132.3 million tonnes (mt) of cargo while Mormugao Port Authority handled 20.62 mt.

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VESSELS DUE AT MUMBAI FOR EXPORT LOADING

ZIM INTEGRATED SHIPPING SERVICES

Consignees are requested to obtain the DELIVERY ORDERS on presentation of ORIGINAL BILLS OF LADING and on payment of relative charges as applicable within 5 days or else Detention Charges will be applicable.

If there is any delay in CY-CFS movement due to port congestion Line/Agent are not responsible for the same.

Consignees will please note that the Carriers and/or their Agents are not bound to send individual notifications regarding the arrival of the vessel or the goods. For detailed information on cargo availability please contact our office. For any charges enquiries, Please contact on our Import Hotline No. : 4252 4444

DB Schenker secures GDP certification for more than 150 stations

• DB Schenker now offers one of the world’s largest GDP-compliant logiscs networks

• Currently 157 cerficates in total ensuring enhanced quality and compliance

• Important addion to healthcare service porolio

• Global standards across all business units

NEW DELHI: DB Schenker continues to solidify its commitment to excellence and regulatory compliance in pharmaceutical supply chains by achieving certifications in accordance with Good Distribution Practice (GDP) standards for 157 of its stations. The most important markets for the global trade of medical goods, spanning the Americas, Europe and Asia, are now covered within the DB SCHENKER | life+ product portfolio. Stations here refer to operational units at DB Schenker

By achieving this milestone, DB Schenker can now cover 80% of the world's healthcare flows with their recent certificates, making it one of the world’s largest GDP-compliant logistics networks. DB Schenker can now even better meet the evolving needs of the global pharmaceutical industry

Healthcare is a highly regulated industry governed by various guidelines, making GDP compliance critical. With Good Distribution Practice, DB Schenker follows a quality guideline that ensures that the integrity and quality of pharmaceutical products is maintained throughout the entire supply chain process.

DB Schenker’s internal Global Healthcare Quality Management System addresses the Good Distribution Practices for medicinal products for human and veterinary use and related active substances set out by the European Union (EU) and the World Health Organization (WHO). DB Schenker ensures these requirements are complied with through the internal

Directive Healthcare Quality Management, which forms the basis of DB SCHENKER | life+.

VeroniqueDameme,HeadofGlobalVerticalMarket Healthcare at DB Schenker: “At the end of every healthcare supply chain there is a patient. That’s why we ensure that medical products are stored and distributed in accordance with the highest standards. The successful GDP certification of our facilities marks a significant milestone on our roadmap and shows our ongoing pursuit of excellence in pharmaceutical logistics.”

When DB Schenker started the implementation process for certification, the first goal was to define a global standard valid for all transport modes. This made the GDP certificate suitable The comprehensive certification ensures that the process, infrastructure, and staffing comply with the stringent requirements of the pharmaceutical industry, using this ideal approach across all business units. After a station is awarded certification following successful completion of an internal certification process, a risk-based re-audit is performed based on continuously measured KPIs. This is repeated at least every 3 years to ensure the highest quality is maintained.

DB Schenker continuously analyzes its customers' need for additional locations. Within the next twelve months, the global logistics service provider plans to certify over 180 of its stations to be able to organize and manage GDP-compliant logistics.

CONCOR to set up CFS at Kathuwas MMLP in partnership with private rms

NEW DELHI: Global container lines such as MSC, Maersk, CMA CGM and terminal giants such as PSA International and DP World are eyeing a tender floated by state run Container Corporation of India Ltd (CONCOR) to set up three container freight stations in joint venture with private firms at its dedicated freight corridor linked multi modal logistics park at Kathuwas in Rajasthan.

India’s biggest rail hauler of containers is replicating the JV model adopted at its Inland Container Depot (ICD) facility at Dadri in Uttar Pradesh some two decades ago to boost volumes at Kathuwas as competition hots up in the northern region, trade sources said.

Kathuwas is CONCOR’s biggest ICD in the northern region with a capacity to handle some 1 million twenty-foot equivalent units (TEUs) a year

The MMLP at Kathuwas – the first to be connected to the dedicated freight corridor for running double stack container trains – was handling some 7 lakhs twenty-foot equivalent units a year since starting operations in 2016 till CONCOR’s Dadri ICD was connected to the DFC about a year ago.

In FY24, the Kathuwas MMLP handled 4.23 lakh TEUs from 6.93 lakh TEUs in FY23. Apart from its own customers, the Dadri facility now ser ves the Moradabad and Kanpur terminals of CONCOR

Previously, containers originating from or destined for Moradabad and Kanpur terminals were first hauled to Kathuwas and from there to Dadri but now goes directly to Dadri.

“Many customers have shifted to the Dadri terminal due to the proximity, faster transit time and services available at the facility Besides, Kathuwas MMLP is facing tough competition from private players operating in the northern region,” said a trade source.

The private facilities include the ICDs at Pali and Patli run by Adani Logistics, Gateway Distriparks ICD at Garhi Harsaru (handles the highest volume in the catchment area), and other private terminals at Rewari and Bawal.

Kathuwas MMLP is spread over 283 acres which is “totally unutilised”, and the reason why it is now being monetised by CONCOR to shore up volumes by partnering with container lines and port terminal operators having dedicated cargo.

Kathuwas MMLP is a critical asset for CONCOR and the double stack movement from northern India to Mundra/Pipavav ports has resulted in cost savings of 30-40 percent which are passed on to the customers It has alsoreducedthetransittimesonthissectorto32-34hours.

Some of the potential partners, including officials from PSA International have visited Kathuwas MMLP , sources said.

Cochin Port waives off port charges for maritime services for Ships at outer anchorage

COCHIN: Cochin Port Authority has extended the “waiver of port charges for a further period of three years” for ships calling at outer anchorage of the port for bunkering services.

The maritime services carried out at the outer anchorage of the port include crew change, supply of fuel and drinking water, ship stores, ship repairs etc.

Officials in the shipping fraternity said the positive stand taken by the port management was part of the joint initiative taken up by Kerala Steamer Agents Association and public sector oil companies operating in and around Kochi.

Describing the decision as a proactive trade initiative, Binu K.S, President of the Steamer Agents Association said waiver of port charges would have a long term

benefit to vessel owners and operators who are looking for a better place to procure quality ship supplies.

T h i s w o u l d h e l p v e s s e l owners/charterers and operators to do advance planning of their vessel calls to Kochi, he said.

With this, Kochi would soon emerge as the most preferred location for quality fuels, ship repair, crew change, engine and deck stores, provisions and freshwater intake, he said.

“We are already getting an average of 1.5 vessels per day for availing outer anchorage facilities By this extension of waiver, we expect more vessels to come at the outer anchorage. This would help Kochi to convert itself into a maritime hub for ship supplies. Vessels coming to the outer channel can avail many

services in a single call”, he said.

Likewise, ships passing through the international sea route can also plan and avail these facilities at outer anchorage itself. It may be recalled that Cochin Port has achieved many new milestones in liquid cargo handling and container handling during the last financial year.

Industry sources said the port is aggressively positioning itself as a c e n t r e f o r s h i p s e r v i c e s a n d bunkering is a major part. Barges are an essential part for the supply of bunkers to ships. Without barges there cannot be bunker supplies To attract more barges to Cochin Port, the management has been extending waivers to bunker barges from Pilotage and berth hire. These efforts by the port have seen a threefold increase in the bunker supplies.

India & Peru deliberates on Trade Agreement Negotiations in New Delhi

NEW DELHI: The seventh round of negotiations for the India-Peru Trade Agreement took place in New Delhi, India from April 8 to April 11, 2024 The discussions involved understanding priorities and concerns of each other and ensuring that the negotiations are rooted in mutual respect and benefit.

At the start of the seventh-round negotiations, Mr Sunil Barthwal, Commerce Secretary, Department of Commerce, Ministry of Commerce & Industry, said that the history of IndiaPeru diplomatic relations dates back to the 1960s. He referred to the visit of H.E. Ms. Teresa Stella Mera Gomez, Vice Minister of Foreign Trade, Peru to India and the bilateral discussions held during the sidelines of the 9th CII

India-LAC Conclave in August, 2023, which played a key role in resuming of the negotiations.

Mr. Barthwal stated that the basic principle of negotiations should be understanding strengths and respecting sensitivities of each o t h e r . T h e m o d a l i t i e s o f negotiation may emerge from a p p r o p r i a t e s t a k e h o l d e r consultations, feedback from the industry and the negotiating teams should engage in gainful and explorative approach.

Ambassador of Peru in India HE Mr Javier Manuel Paulinich Velarde m e n t i o n e d t h a t t h e r e c e n t negotiations have laid down the ground work for a substantial foundation and exhibited confidence

on the outcomes of negotiations towards fostering partnership.

Peru has emerged as the thirdlargest trading partner of India in Latin American & Caribbean Region. In the last two decades, the trade b e t w e e n I n d i a a n d Pe r u h a s increased from US$ 66 million in 2003 to around US$ 3 68 billion in 2023 T h e t r a d e a g r e e m e n t u n d e r negotiations shall play a pivotal role in future collaboration in various sectors, creating avenues for mutual benefit and advancement.

The next round expected in June, 2 0 2 4 w i l l b e p r e c e d e d b y intersessional negotiations over VC to ensure that outstanding issues are resolved before the two parties meet again.

Maldives in discussion with India to pay in local currency for imports

MALE: The Maldives is currently discussing with India if the island nation can make payments for its imports from the country in Maldivian Rufiyaa, a senior Minister has said.

A similar arrangement is also being worked out for imports of goods from China, Minister for Economic Development Mohamed Saeed said and noted that annually, Maldives

imports goods worth USD 780 million and USD 720 million from India and China respectively. Saeed said his party was now getting all signals that “there was a possibility to make nondollar payments for all of these massive import arrangements.”

In July 2023, Government of India had declared that Maldives was among the 22 countries that had been permitted

by the Reserve Bank to open Special Rupee Vostro Accounts (SRVAs) as part of efforts to promote bilateral trade in local currencies The aim was to ensure that goods imported from India could be paid for in Maldivian Rufiyaa, Saeed said, and added, “Maldives was not a country to break ties with any other nation, and that we areacountrythatisopentotrade ”

Foreign exchange reserves hit fresh peak of $648.56 billion

M U M B A I : I n d i a ’ s f o r e i g n exchange reserves rose for the seventh consecutive week to reach a fresh peak of $648.56 billion in the week ended 5 April, latest data by the Reserve Bank of India showed The reserves increased by $2 98 billion during the week.

The reserves rose on the back of an increase in gold reserves, which rose by $2.39 billion in the week. Foreign currency assets, a substantial part of the reserves, increased by $549 million inthepreviousweek

In the current calendar year, the reserves have expanded by 23 billion so

far. As of 29 December 2023, India’s foreignexchangereservesamountedto $623 billion. In the week under review, the reserve position in the International Monetary Fund (IMF) was up by $9 million to $4 67 billion, whereas Special Drawing Rights (SDRs) were up by $24 million to $18.17 billion.

India-UAE to work on IME Economic Corridor protocols in May

NEW DELHI: Notwithstanding the war in Gaza and its fall-out in Middle-East, India and United Arab Emirates (UAE) have begun work on the first stage of the pathbreaking India-Middle East-Europe Economic Corridor (IMEEC) with the first senior official meeting expected to take place by May 15.

The IMEEC links India, UAE, Jordan, Saudi Arabia and Israel with Europe and US through trade and merchandise exports with ports in Europe being the final destination. The IMEEC has full support of the Biden administration and is designed to integrate the markets of these countries.

After Prime Minister Narendra Modi signed the inter-governmental framework agreement on the IMEEC w i t h UA E P r e s i d e n t S h e i k h Mohamed bin Zayed Al Nahyan on

February 14, the two countries have decided to hold the first round of meetings next month to firmly establish the protocols for the first stage of IMEEC. The IMEEC will not only link India with Europe via the Middle-East but also increase the bilateral trade with UAE, which is currently pegged at USD 85 billion and growing by the day

It is understood that during the Joint Secretary level meeting with representatives from trade, shipping and commerce ministries the two sides will establish protocols or what has been called virtual trade corridors so that goods containers once cleared at Indian port of Mundra are not reopened at either UAE’s Fujairah Port and allowed to proceeds to the final destinations in Europe or America The meeting which was scheduled for April 25 in

UAE had to be postponed due to prior commitments on both sides.

Even though Saudi Arabia is stuck in Middle-East politics due to Israel on Gaza post October 7 terrorist attack, India and UAE are getting their act together on IMEEC so that the trade corridor between Bharat and Gulf is complete. The IMEEC involves taking the containers via Jordan and Saudi Arabia on railroad to Haifa port in Israel and thereon to southern ports in Europe like Naples and Marseilles.

The IMEEC will be discussed when US National Security Advisor Jake Sullivan pays a visit to India for the iCET meeting with his Indian counterpart Ajit Doval later this month. The corridor was conceived by PM Modi and President MBZ with US, Saudi Arabia joining the close ally grouping to add heft.

PMO likely to review and adopt 100-day agenda for next Government this month including FTAs with UK and Oman

N E W D E L H I : T h e P r i m e Minister’s Office (PMO) is likely to review and adopt a 100-day agenda later this month for the next government, which is being piloted by India’s think-tank NITI Aayog, a senior government official recently

“The senior bureaucrats of Ministries, including Commerce, Finance, Labour are holding relevant discussions with officials in PMO and NITI Aayog. After the discussions, the 100-day agenda will be submitted to the PMO for review,” the official told.

Sure of a win in the upcoming g e n e r a l e l e c t i o n s , t h e P M Sri Narendra Modi led Government is pulling out all the stops to prepare for its third term beforehand.

“The PMO will finally review and adopt the 100-day agenda, which is likely to be this month,” he said.

While Punya Salila Srivastava, Additional secretary to PM, is h o l d i n g d i s c u s s i o n s w i t h t h e Ministries of Education, Health and Family Welfare, Skill Development and Entrepreneurship, Women a n d C h i l d D e v e l o p m e n t ,

Arvind Shrivastava, Additional Secretary to the PM, is deliberating with the ministries of Commerce, Finance and Corporate Affairs, Labour, Heavy Industries and Textiles. Hari Ranjan Rao, Additional Secretary to the PM, is holding discussions with the Ministries of Electronics & IT, Science and Technology while Atish Chandra, Additional Secretary to the PM, is involved with the Ministries of Agriculture, Fertilisers, Food Processing Industries and Consumer Affairs, Food and Public Distribution.

India’s think-tank NITI Aayog, which was set up in 2015, has asked all the Ministries to give their 100-day agenda for the next government, within a framework with certain categories, including policy initiatives and implementationissues,theofficialsaid

“The think-tank is piloting the entire agenda setting for the new government,” the official told.

Tentative 100-day agenda

FTAs : The proposed Free trade

A g r e e m e n t s w i t h t h e U n i t e d Kingdom (UK) and Oman may

feature in the Centre’s 100-day agenda as talks on most of the chapters have been concluded.

E - c o m m e r c e p o l i c y : T h e government’s 100-day agenda may include addressing the long-pending e-commerce policy as a lot of things have already been threshed out at the officials’ level. The policy will help balance the interests of small businesses, e-commerce platforms, consumers and broader economic policy objectives.

Labour codes: The notification on labour codes could be a part of the 100-day agenda though MSME o r g a n i s a t i o n s p l a n t o g i v e a r e p r e s e n t a t i o n f o r f u r t h e r discussions on it. The Industrial Relations Code, Code on Social Security, and Occupational Safety, Health and Working Conditions Code were passed during the Monsoon Session of Parliament in 2020 In the Monsoon Session of 2019, the Code on Wages had been passed But the rules necessary for their implementation have not been formulated or notified since then.

India’s fuel demand hits record high, driven by Transport sector

N E W D E L H I : I n d i a ’ s f u e l consumption for FY2024 increased 5%, hitting a record high as demand from the transport sector and raised naphtha sales drive up trade. However, total oil demand totalled 21 09 million tonnes (mt), or 4.99 million barrels per day (mbpd), in March, down from 21.22mt (5 02mbpd) last year, according to preliminary data from the Petroleum Planning and Analysis Cell (PPAC), an arm of India’s Ministry of Petroleum and Natural Gas, analysed by Reuters.

Despite this drop, total fuel demand for the 2024 financial year, which ended at the end of March, hit a record high of 233 276mt (4 67mbpd) compared with 223.021mt (4.48mbpd) the previous year

Diesel sales, driven by increased use of heavy goods vehicles and large passenger vehicles throughout the year, rose 3 1% year on year to 8 04mt in March, up 4.4% from FY2023.

According to GlobalData, transport will soon be India’s fastest-growing sector, with an estimated compound

annual growth rate of 7.5% until 2035. T h e c o u n t r y ’ s r a p i d l y g r o w i n g population and economy has also contributed to a ramp up in fuel consumption.

GlobalData analyst Tosin Coker said: “Demand for fuels in India is expected to continue growing, maybe not at the same rapid rate as the last year but, as the economy continues to grow and the demand for energy increases, the country plans to boost its refining capacity.”

The above vessel has arrived at BMCT on 12/04/2024 with Import Cargo in containers.

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566 GOSUSNH8462951

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Consignees are requested to obtain DELIVERY ORDERS on presentation of ORIGINAL BILLS of LADING and on payment of relative charges as applicable within 5 days or else Detention Charges will be applicable.

If there is any delay in CY-CFS movement due to port congestion Line/Agent are not responsible for the same.

Consignees will please note that the Carriers and/or their Agents are not bound to send Individual Notifications regarding the arrival of the vessel or the goods.

For detailed information on cargo availability please contact our office.

For any charges enquiries, Please contact on our Import Hotline No. : 4252 4444 Container Movement to : OCEAN

Industrial & Logistics sector records 22%

YoY demand growth in Q1 2024

MUMBAI: The industrial and logistics sector started the year on an impressive note, with a strong absorption of 13.5 mn sq. ft. in Q1 2024 compared to 11.0 million sq. ft. in Q1 2023, representing 22.7 percent Y-o-Y growth.

“This further builds the confidence for India’s economic prospects Tier I cities witnessed 78 percent of the absorption, while tier II and III cities a c c o u n t e d f o r t h e r e m a i n i n g 22percent, ”readstherelease

The overall absorption during Q1 2024 is led by sustained demand from the 3PL and manufacturing sectors as well as a surge in demand from the FMCG sector. In addition, the uptake of manufacturing warehouses has significantly contributed to the overall absorption, according to the latest r e p o r t b y S a v i l l s I n d i a , a n Internationalrealestateadvisoryfirm

The report suggests that the sector witnessed a fresh supply of 12.9 mn sq. ft. in Q1 2024, indicating a 4 percent growth rate from Q1 2023

levels, of which 9 8 mn sq ft (76 percent) was from tier I cities and 3.1 mn sq. ft. (24 percent) from tier II and III cities.

Grade A space accounted for 45 percent of the supply and 41 percent of the absorption in Q1 2024. Changing occupier preferences to meet ESG ( E n v i r o n m e n t a l , S o c i a l , a n d Governance) standards are likely to d r i v e d e m a n d f o r G r a d e A warehousing and ready-fitted-out factory space.

“The growing trend of supply chain outsourcing has resulted in increased expansion of 3PL players in tier II & III cities, leading to higher demand for warehousing space. Manufacturing sector continues to account for over 25 percent of the total a b s o r p t i o n , w i t h i m p r o v e d manufacturing activities likely to d r i v e i n c r e a s e d u p t a k e o f manufacturing warehouses as well. The e-commerce sector is likely to witness a surge in activity going forward. The sector is amplifying its

urban distribution and extending its reach to tier II & III cities. The tier II and III cities are likely to witness significant growth as prominent hubs for sourcing, consumption, and distribution”. Srinivas N, Managing Director, Industrial and Logistics, Savills India.

In Q1 2024, Delhi-NCR remained a t t h e t o p w i t h t h e h i g h e s t contribution of 23 percent to total supply, closely followed by Bengaluru and Kolkata with 12 percent and 10 percent respectively. The tier II and tier III cities together accounted for 24 percent of the total supply.

In terms of absorption, Delhi-NCR l e a d t h e p a c k w i t h h i g h e s t contribution of 21 percent in Q1 2024, followed by Pune and Bengaluru, each at 12 percent. The contribution of Pune to the overall absorption increased from 7 percent in Q1 2023 to 12 percent in Q1 2024, while it decreased for Mumbai from 14 percent in Q1 2023 to 7 percent in Q1 2024.

US Trade Mission to visit India to explore opportunities in agri business

NEW DELHI: A high-powered US trade delegation will visit India later this month to explore opportunities in the country’s huge agribusiness sector and further promote American products among India’s rising middle class “India represents a growth economy for the US agribusinesses seeking to capture an increasing s h a r e o f t h e h o u s e h o l d f o o d purchases in the fif th-largest economy in the world,” said Under Secretary of Agriculture for Trade and Foreign Agricultural Affair Alexis Taylor.

From April 22 to 25, Taylor will lead a US Department of Agriculture (USDA) agribusiness trade mission to

Delhi. “India’s rising middle-class consumers’ familiarity with American f o o d p r o d u c t s a n d i n c r e a s e d p u r c h a s i n g p o w e r i s a r e a l opportunity for US producers,” Taylor said “This, along with the Indian consumers’ trusted view of American food and agricultural products as high-quality has contributed to an 11 per cent growth in the US agricultural-related exports to India over the past two years,” she said.

While on the trade mission, participants will engage in targeted business-to-business meetings and site visits to build new trade linkages, strengthen existing partnerships, o b s e r v e U S p r o d u c t s i n t h e

marketplace, and discover the latest Indian consumer food trends.

Participants will also receive indepth market briefings from USDA’s Foreign Agricultural Service and industry trade experts.

In a statement, the USDA said that last year, India reduced tariff r e q u i r e m e n t s f o r U S p o u l t r y products, vegetables, fruits, pulses, and tree nuts, strengthening the agribusiness trade relationship between the US and India.

The trade mission will follow up on those wins and secure an expanding number of new purchase agreements for American farmers, ranchers and producers, it said.

Majority of principal commodities exported to China record positive growth in 2023: Govt

NEW DELHI: As many as 90 principal commodities like iron ore, telecom instruments and electronic components exported to China have recorded a positive growth in 2023 out of the total 161 such goods shipped to the neighbouring country, according to Commerce Ministry data.

These 90 commodities account for 67.7 per cent of India's export basket to China, while 71 products that have registered a negative export growth in 2023 constitute 32.3 per cent, the data showed.

There are four commodities level

where India has improved its export to China by more than USD 100 million in 2023 They are iron ore (216 8 per cent to USD 3 33 billion in 2023), cotton yarn (542 6 per cent to USD 611.17 million in 2023), spices (19.4 per cent to USD 132.26 million in 2023), and processed minerals (174 19 per cent to USD 129 million in 2023).

For another fifteen products, the improvement in exports is in the bracket of USD 10 -100 billion.

These goods include marine products, iron and steel, telecom i n s t r u

agrochemicals, paper, paper board, drug formulations, biologicals, AC, refrigeration machinery, paint, bulk minerals and ores, and processed vegetables.

I n d i a ' s e x p o r t s o f t e l e c o m i n s t r u m e n t s a n d e l e c t r o n i c components to China rose by 46.45 per cent and 6.75 per cent to USD 247.54 million and USD 156 55 million, respectively, in 2023, the data showed.

"Indian goods have recorded strong exports to China in 2023 in spite of a significant decline in China's imports," an official said.

VESSELS IN PORT & DUE FOR EXPORT LOADING

CJ-III

CJ-XIV

CJ-XV

16/04

OJ-IV XT Prosperity Samudra 16/04

OJ-V VACANT

OJ-VI Sanmar Songbird JMBaxi 16/04

OJ-VII Orlando Interocean 16/04

VESSELS IN PORT & DUE FOR IMPORT DISCHARGE

VESSELS

ISS Shpg. 20,000 T. Propane/Butane

Lisbon GAC Shpg. 20,015 T Phos Acid

Stream Lotus 6 Wilhelmsen Sohar 5,534 T Ammonia

Stream Marigold Wilhelmsen Dumai 3,000 T. CPO In Bulk 2024041061

OJ-VII Orlando Interocean Taman 15,000

VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

NSICT

NSIGT BMCT

MSC Silvana (V-IU414A) 11-04-2024 Mundra

MSC Sagitta III (V-IB413A) 11-04-2024 Hazira

MSC United VIII (V-IP415A) 12-04-2024 Hazira

MSC Bremen (V-IV415A) 13-04-2024 Mundra

Navios Constellation (V-4115) 15-04-2024 ACMTPL

Tabea (V-02410E) 10-04-2024 Port Kelang

Clemens Schulte (V-031E) 11-04-2024 Colombo

Maersk Guatemala (V-414W) 12-04-2024 Salalah

SC Mara (V-24014) 13-04-2024 Jebel Ali

Wan Hai 501 (V-E246) 13-04-2024 Cochin

Tonsberg (V-OYS12E1) 15-04-2024 Port Kelang

MSC Lagos X (V-GA414R) 09-04-2024 Colombo

Zhong Gu Ji Nan (V-024002E) 10-04-2024 AICT

MSC Melatilde (V-XA414A) 10-04-2024 Colombo

Monaco (V-204W) 10-04-2024 Mundra

Majd (V-24007W) 10-04-2024 MICT

Hyundai Hongkong (V-0115W) 10-04-2024 AICT

Kota Layang (V-094W) 11-04-2024 AICT

Wan Hai 317 (V-E218) 11-04-2024 MICT

Sprinter (V-051W) 12-04-2024

FEI Group : Proudly promoting Musical Treasures of India

MUMBAI: The FEI Group, u n d e r i t s C S R w i n g , “Shailaja Nair Foundation,” has been doing pioneering work in the areas of Social Equity and the promotion of Indian music

The Foundation’s latest initiative a i m s t o g i v e w i n g s t o a n integral part of Indian music: the instrumentalists. The objective of the program is to provide a robust platform for instrumental musicians to showcase their phenomenal talent, share their musical journeys with a discerning audience, and have their work heard, seen, and appreciated by the veterans of Indian music.

T h e i n i t i a t i v e “Pratap’s Amazing Musicians” is the brainchild of Mr. Pratap Nair, C h a i r m a n , F E I G r o u p , who seamlessly traverses two worlds as a passionate music lover and an entrepreneur in the shipping industry

Aptly named “Unveiling the Unheard,” the initiative is unique because, from the vast ocean of soulful Indian music, it focuses on showcasing those musicians who have dedicated years of rigorous learning to master their craft and build a sacred and symbiotic relationship with their revered instruments It pays homage to the ancient art forms and the lives that the musicians have dedicated to them. The DNA’s of culture and music pass on the precious fruits of their h a r d w o r k t o t h e i r n e x t generations of music students The students in turn faithfully follow the tradition and evolve until their skills flower again, spreading their fragrance, infused with ancient knowledge, but coloured with fresh perspectives, bringing immense joy to the lovers of music.

Each event aims to bring on the stage two distinct instruments and their players, celebrating the diversity and beauty of their magic.

The inaugural show is scheduled for 20th April 2024 at 1930 hours at Rang Sharda Auditorium, Bandra, Mumbai.

“Unveiling the Unheard” will aspire not only to conduct ticketed m o n t h l y m u s i c f e s t i v a l s t o showcase these hugely talented instrumentalists but also to ensure that their music is preserved for posterity in digital archives on its website.

Beyond the festival, curated events can be customised for those who wish to do so for special o c c a s i o n s . A d i r e c t o r y o f musicians will be showcased on the website, where music lovers can not only see a rich tapestry of promising talent but also hear the soulful stories of the artists’ musical journeys.

“ M u s i c i s t h e u n i v e r s a l language that transcends all

b o u n d a r i e s o f c u l t u r e a n d language In a world that is connected electronically but separated by boundaries, music can play an important role in inclusion and unity We aim to build bridges continuously with our latest musical offering. “

T h e i n a u g u r a l s h o w i s scheduled for 20th April 2024 at 1930 hours at Rang Sharda Auditorium, Bandra, Mumbai. Music lovers are invited to support and attend the event as a mark of their appreciation and love for instrumental music. The Shailaja Nair Foundation and its patron company, FEI Group, take great pride in this initiative to proudly preser ve and propagate the musical treasures of India.