MUM-21-07-2023

Piyush Goyal to meet industry leaders to discuss ways to boost manufacturing and exports tomorrow

NEW DELHI: Commerce and Industry Minister Shri Piyush Goyal will hold discussions with representatives of top 100 companies on July 22 in Mumbai on ways to increase share of domestic manufacturing and boost the country’sexports,anofficialsaid.

Senior officials from the Department for Promotion of IndustryandInternalTradeincluding Secretary Rajesh Kumar Singh are also expected to participate in the deliberations.

In the discussions, the Ministry would seek suggestions from the industry on ways to increase share of manufacturing in India’s GDP; increase exports of goods and services; and reforms to further unlock economic development and improve business environment,

the official added.

The deliberations—Unnati Roundtable : Top 100 companies from NSE/BSE—assume significance as the country’s exports are declining duetoglobaldemandslowdown.

India’s exports contracted by 22%, the steepest decline in the last three years, to $32.97 billion in June on account of global demand slowdown, especiallyintheWesternmarketslike theU.S.andEurope.

Cumulatively, exports dipped by 15.13% to $102.68 billion during AprilJune this fiscal. Imports too declined by12.67%to$160.28billion.

The growth of eight key infrastructuresectorssloweddownto 4.3% in May 2023 due to a decline in the production of crude oil, natural gas and electricity, according to the datareleasedbytheGovernment.

India’s industrial production rose to 5.2% in May from 4.5% in April 2023, mainly due to good performance by the manufacturing and mining sectors. The factory output growth measured in terms of the Index of Industrial Production stood at 19.7% in May 2022, mainly due to a lower baseeffect.

AspertheIIPdatareleasedbythe National Statistical Office, the manufacturing sector’s output grew 5.7% in May 2023 against a 20.7% expansionayearago.

Over the years, the government has taken a series of measures such as rolling out of the production linked incentive scheme and Remission of Duties and Taxes on Export Products scheme and reducing compliance burden for industry with a view to promoteeaseofdoingbusiness.

Adani Ports advances global expansion plans with prospective deal at Dar Es Salaam Port in Tanzania

AHMEDABAD:

Adani Ports and Special Economic Zone Ltd (APSEZ) is reportedlyontheverge of securing the rights to develop and operate cargo berths at Tanzania’s mainportDaresSalaam.

APSEZ is said to be close to winning the rights to develop and run somecargoberthsatTanzania’smain port of Dar es Salaam as billionaire Gautam Adani emerges from the Hindenburg episode to make his first major acquisition and the third

overall globally by his port’s unit in recentyears,multiplesourcessaid.

Tanzania Ports Authority (TPA), the state-owned entity that oversees ports in the East African nation, is expected to announce the winner, in the next few days, of a dual tender to privatise Dar es Salaam Port, which handles some 95 percent of that country’sinternationaltrade.

APSEZ, according to a source briefed on the matter, is said to have teamed up with Abu Dhabi Ports Group to place a joint bid for some break bulk/dry bulk and container

berths at Dar es Salaam Port – the main gateway to Tanzania’s hinterland and the Great Lakes region.

The port also plays a major role in supporting the economies of the neighbouring landlocked countries of Zambia, Democratic Republic of Congo, Burundi, Rwanda, Malawi, Uganda,andZimbabwe.

Besides, the port is strategically locatedtoserveasafreightlinktoand from East and Central Africa countriesaswellastoMiddleandFar East,Europe,Australia,andAmerica.

See Pg. 6

India will be $25-30 Trillion Economy by 2050: Gautam Adani

See Pg. 5

India has 3-5 year for China+1 window : World Bank President Ajay Banga

See Pg. 5

See Back Pg.

JNPA

SEZ holds SEZ Investor Conclave : Invest in the Next Growth Story

Transworld Group’s Airavat Aviation launches sustainable luxury private air travel in the Middle East

Airavat’s fleet of Hawker 4000, the super-midsize business jets will operate on demand to Europe, Africa, Asia and Middle East from Dubai

PUNE: Jawaharlal Nehru Port Authority (JNPA), India's premier container port, in association with the Confederation of Indian Industry (CII), successfully concluded its highly anticipatedSpecialEconomicZone(SEZ) InvestorConclaveonJuly19,2023.

Cont’d. Pg. 6

DUBAI: Airavat Aviation (Airavat), a new venture by Transworld Group, a leading global logistics conglomerate, is set to redefine luxury private jet travel in the Middle East with its launch of hyper-personalized services. Airavat's fleet of Hawker 4000 super-midsize business jets is poised to take the skies, offering on-demand flights to Europe, Africa, Asia, andtheMiddle East from its Dubai base.

Cont’d. Back Pg.

Mr. Sanjay Sethi, IAS, Chairperson, JNPAaddressing the gathering.

Maersk enhances warehousing capability in Asia Pacific with ground-breaking of World Gateway 2 distribution center in Singapore

SINGAPORE: A.P. Moller-Maersk (Maersk) is strengthening its omnichannel-fulfilment capabilitiesinSingapore,withWorldGateway2, a brand new 1.1 million sq. ft. facility being built in Jurong West. The ground-breaking ceremony was held on July 19, 2023, and this distribution centre is expected to be completed inthefirstquarterof2025.

Strategically located in the industrial area with direct access to major highway –Ayer Rajah Expressway (AYE), the facility has convenient access to Tuas Mega Port and Changi International Airport. It is also within close proximity to World Gateway 1, currently Singapore’s largest automated and customs bonded warehouse. The new distribution centre is designed to have a capacity of 30,000 pallet Automated Storage & Retrieval System (AS/RS), with a large floorplate of 160,000 sq. ft. This multi-story facility will have a high ceiling with 11-metreclearheightperfloor,suitablefordensestorage and automation. Equipped with ample loading bays and container parking places to manage peak season volumes,itcaterstotheboominge-commercefulfilment needs, as well as offering logistics solutions for different industries, including Footwear & Apparel, Beauty & Wellness, Healthcare, Luxury Fashion products across Asiaandtherestoftheworld.

Maersk’s World Gateway 2 regional distribution centre will increase Singapore’s capacity and capabilities to support omnichannel fulfilment in Southeast Asia. With extensive use of automation and robotics systems, it will be one of the most productive warehouses in Singapore, and will also create many skilled and high value jobs in technology, digitalisation, data analytics and e-commerce,

said Png Cheong Boon, Chairman of Singapore Economic Development Board.

As Maersk becomes a global integrator of logistics, our powerful omnichannel-fulfilment solutions enable our customers to have predictability, visibility and efficiency in their supply chain, improving their profitability and brand reputation in today’s complicated marketplace. Our continued investment in logistics and services underscores our commitment to support customers’businessneeds.Expandingthewarehousing footprint and omnichannel-fulfilment competence is essential to our strategic growth, and we’re very excited about the opportunities that lie ahead, said Dominic Gates, CEO of Omnichannel-fullment, MaerskAsiaPacic.

Supporting customers’ emissions targets and strengthening sustainable solutions is one of the strategic priorities for Maersk. This new facility will be both LEED Platinum- and Green Mark Platinumcertified for its outstanding design and performance in environmental aspects. It will be equipped with motion sensor-LED lights, solar panels, composite panel façade systemforbuildinginsulation,andbuildingmanagement systemforenergyefficiency.

India will be $25-30 Trillion Economy by 2050: Gautam Adani

NEW DELHI: India is on track to be a $25-30 trillion economy by 2050, AdaniGroupchiefGautamAdanisaid today, adding that he anticipates that India will add a trillion dollars to the GDP every 18 months within the next decade, and become the secondlargesteconomyintheworldby2050.

Indiatook58yearstogettoitsfirst $ trillion GDP, 12 years to get to the next trillion and just five years for the third,hepointedout.

"India'sstockmarketcapitalisation seen growing to over $40 trillion by 2050. My belief in the growth story of our matrubhumi (motherland) has

neverbeenstronger,"MrAdanisaid.

While economic cycles are getting increasingly harder to predict, India's demographic dividend is expected to driveconsumptionandacceleratethe growth of a tax-paying society at record pace, Mr Adani said while addressing shareholders at the annual general meeting of Adani EnterprisesLtd.

Despite global challenges like the climate emergency, geopolitical challenges, supply chain issues, energy volatility, and persistent inflation, Mr Adani said he believes in India'sfuture.

"The world is continuing to be hit by multiple shocks. I see potential for a massive reset in existing global operatingmodels,"hesaid.

Hebasedhispredictiononastable Government, coupled with Indian demographics and strong internal demand, whichhe saidwere "a potent combination”

"A stable Government is critical for any economy to implement policy, and lay the foundation for growth. We have seen the impact of several structuralreforms,criticalforstrong, sustainable, balanced growth," MrAdanisaid.

Piyush Goyal discusses roadmap to achieve $250 bn textiles production & exports of $100 bn by 2030

NEW DELHI: Union Minister for Textiles, Consumer Affairs, Food and Public Distribution and Commerce and Industry, Shri Piyush Goyal discussed the roadmap to achieve the target of $250 billion textiles productionand$100 billionexportsby 2030.

While interacting with the officers and staff during the Chintan Shivir organized by the Ministry of Textiles, Shri Goyal emphasized on holistic approach towards making the Textiles sector more vibrant so as to preparetotakeonglobalcompetition.

He asked the officers to come up with innovative ideas and underscored the importance of streamlining the institutional structure for better servicedelivery.

TheMinistryof Textilesorganized Chintan Shivir on 18th of July to brainstorm on various issues relating tothesector.

The session was inaugurated by Union Minister of State for Textiles, Smt. Darshana Jardosh, who highlighted the importance of the textilessectorintheeconomicgrowth of the country and the need to

collectively focus on promoting growth across all segments in the valuechain.

She mentioned that the Chintan Shivir was a platform for collectively deliberating and finding solutions on important issues pertaining to the sector.Itwouldalsohelpinpromoting better understanding and coordination among all offices within thefoldofMinistryofTextiles.

Officers from the Ministry of Textiles as well as field offices from across the country attended the day longChintanShivir.

Japan has immense opportunities for Indian apparel exporters: AEPC

NEW DELHI: Decline in Chinese garmentexportstoJapanprovidesan immense opportunity for the Indian apparel industry to boost shipments totheislandnation,AEPCsaid.

The Apparel Export Promotion Council (AEPC) said a strong Indian garment industry with its unique offerings has a huge scope for Japanese trading companies to sourcefromIndia.

Members of the council are participating in the 12th edition of the IndiaTexTrendsFairinTokyo.

Speaking at the inauguration of the fair, AEPC Chairman Naren Goenka said over 180 Indian exhibitorsareparticipatinginthefair.

Apparel imports into Japan have witnessed a positive mark in the last threeyears.Japan’stotalimportfrom theworld,whichwasUSD28.49billion in 2018, has now risen to USD 46.72 billion, he said adding Japan is the fourth largest garment importer in the world after the US, Germany and France.

Out of the total garment import of

USD23billionbyJapan,India’sshare isjustonepercent.

We hold a strong business opportunity in Japan reflected by the fact that China, which has been a dominant garment supplier to Japan, has witnessed a decline in the past five years giving significant advantage to India. Moreover, the duty-free access for Indian readymadegarmentspost-Indo-Japanfree trade agreement as against about 9percentforChinaandTurkeyisabig advantageforus,Goenkasaid.

India has 3-5 year for China+1 window : World Bank President Ajay Banga

NEW DELHI: World Bank

PresidentAjayBangasaidIndiahasa

three-to-five-year window to cash in on the China+1 opportunity as companies seek alternative manufacturing sites to diversify supplychains.

India has proven more resilient and emerged from the pandemic relatively stronger than others, Banga said, adding that he is more optimistic than before as the country isfocusingongrowthandjobs,thetwo thingscrucialtoreducingpoverty.

Ajay Banga was appointed World BankChieflastmonth.

“India’s opportunity currently is to cash in on the China+1 opportunity,” Banga said. “This opportunity will not stay open for 10 years. This is a three-tofive-year opportunity when the supply chains start relocating or… let’s say not relocating but adding oninanotherlocation.”

Banga said this was one of the topics of discussion with the Indian Government.

China+1, a post-Covid development, refers to the establishment of manufacturing elsewhere to address supply chain

disruption risks because of concentrationinonecountry.

TheonethingIndiahasgoingforit is the “very high” percentage of gross domestic product (GDP) that comes fromlocalproduction,Bangasaid.

“Your exposure to the typical impact of global slowdowns, caused by trade slowdown,… is cushioned by the relatively high percentage of the economy that comes from domestic consumption, which is very helpful at atime(likethis),”hesaid.

India’s economy grew 7.2% in FY23andtheWorldBankexpectsitto grow6.3%inFY24.

JNPA SEZ holds SEZ Investor Conclave: Invest in the Next Growth Story

Cont’d.

from Pg. 3

The event, held at Hyatt Regency in Pune, witnessed an impressive gathering of industry leaders, investors, policymakers, andkeystakeholdersfromvarioussectors.

The Investor Conclave aimed at showcasing the immense investment opportunities available within its Special Economic Zone and foster collaborationsforthegrowthanddevelopmentoftheregion. The event provided a platform for participants to engage in fruitful discussions, exchange ideas, and explore potential partnerships that would contribute to the economic progressofthecountry.

Shri Sanjay Sethi, IAS, Chairman, JNPT, expressed his gratitude to all participants and stakeholders for their active involvement in making the conclave a resounding success. He emphasized the importance of collaboration and partnership in driving economic growth and hailed the event as a significant milestone in attracting investmentsandpromotingtradeintheregion.

Distinguished guests from various sectors attended the conclave, including representatives from renowned national and international companies, industrial associations, Government officials, and experts in the field of logistics and infrastructure. The conclave featured a series of interactive sessions, panel discussions, and presentations highlighting the advantages and potential of investinginJNPASEZ.

"We have been getting a tremendous response from the investors. This shows their confidence in JNPA SEZ which is committed to fulfil the expectations of investors. With the state-of-the-art facilities, world-class infrastructure, robust logistics ecosystem, and proximity to major markets, JNPA SEZ has revolutionised the shipping industry," ShriSanjaySethiadded.

JNPA looks forward to capitalizing on the momentum generated by the SEZ Investor's Conclave and strengthening its position as a leading hub for trade, investment, and innovation. The port remains committed to nurturing a conducive ecosystem for businesses and facilitating sustainable economic development in line with theGovernment'svisionofAtmanirbharBharat.

ECU Worldwide Launches Industry Study on Future of Digital Freight Booking

Value-added digital services like payments soluons and trade financing gain favour

BRUSSELS/MIAMI/MUMBAI:

The global multi-modal logistics player and the world-leader in lessthan-container-load (LCL) ocean freight consolidation, ECU Worldwide (wholly-owned subsidiary of Allcargo Logistics), has launched an in-depth survey ‘Freight Forwarder Survey Health Improvement report 2023’. The extensive report covering nearly a thousand commercial freight forwarding companies underlines the urgent need for value-added services and digitalisationtoboosttheirprofitability.

Tim Tudor, CEO, ECU Worldwide, said, “Pressure on margins is here to stay as new challenges emerge. The industry-defining second edition of this study is ECU Worldwide’s attempt to focus on the ways forwarding companies can create value along the supply chain for their shippers, safeguarding their profitability. A tech-powered ecosystemwillunlocktransparency,newfinancialsolutions, anddependabilityinglobalsupplychains.”

To stave off these pressures, the study delineates two key differentiators: Offering a central console for digital quotes, booking and end-to-end shipment visibility, and ancillary services such as trade financing and payments solutions.

KeyFindings:

• By the end of 2023, 70 percent of freight booking is expectedtobedonethroughappsandportals,compared tothecurrent35percent.

• Nearly 50 percent forwarders still serve trading and manufacturing industries, but e-commerce is catching upasamajorshippercategory.

• Ocean freight dominates the category, offered by 96 percent forwarders, and air freight by 60 percent of forwarders.

• Declining freight prices last year have led to lower arbitrageprofitsandgreatermargin-pressure.

• Around 25 percent of the forwarders view valueadditions as important to their business, and digital quotes and bookings, and tracking solutions remain the toptwovaluableservicesforforwarders.

• Trade financing and payments solutions have gained in prominence as value-added services for small forwardersin2023.

• While app and portal for customer interface are the future, almost 50 percent of freight bookings are still done through emails, hence, email integration with bookingsystemsisimportant.

• Small and medium forwarders lack the wherewithal such as knowhow, training, capital, and infrastructure to graduate to digitalise and move up the supply chain for theircustomers.

Philip Blumenthal, CTO, ECU Worldwide, said, “Our study analyses the latest trends in Freight Forwarder operations and the challenges they encounter in their dayto-day activities. The complex coordination between carriers, shippers, logistics providers for ocean freight can be improved by adopting technology for visibility, bookings and quotes for freight forwarding, making for an efficient supplychain,bothdownstreamandupstream.”

Digitalisation’s transformative power can be seen in ECU Worldwide’s proprietary and brand-neutral platform, ECU360, which delivers end-to-end logistics support and tracking, cost-effectively to freight forwarders and SMEs to unlockgrowth.

The ‘Freight Forwarder Survey Health Improvement report 2023’ report reached out to 963 commercial freight forwarders across the Americas, European Union, and AsiaPacific for a comprehensive understanding of the pressing concernsofoneofthekeysupportsystemsofgloballogistics. The key takeaway, this year, is how crucial digital bookings and value-added services are becoming to help maintain marginsforsuchcompanies,irrespectiveofsize.

TO

FOR EXPORT LOADING

Gioia Tauro (D).

CMT Southampton, Rotterdam, Antwerp, Dunkirk, Felixstowe, Le Havre

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

Indial Shpg.

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

North Continent, Scandinavian Ports & Ashdod, Piraeus, Thessaloniki, Athens, Unifeeder Group Unifeeder Ag.

North Continent & Scandinavian Ports. Dron.2 & TLP

North Continent & Scandinavian Ports.

North Cont., Scandinavian, Red Sea & Med. Ports.

Faredeal

North Continent & Scandinavian

FOR U.K., NORTH CONT., SCANDINAVIAN, RED SEA & MED. PORTS from NSIGT

FOR U.K., NORTH CONT., SCANDINAVIAN, RED SEA & MED. PORTS from GTI

LOAD FOR BLACK SEA, EAST EUROPE & C.I.S PORTS from NSICT

TO LOAD FOR BLACK SEA, EAST EUROPE & C.I.S PORTS from NSIGT

TO LOAD FOR USA, CANADA, ATLANTIC, PACIFIC, SOUTH AMERICAN & WEST INDIES PORTS from NSIGT

TO

FOR USA, CANADA, ATLANTIC, PACIFIC, SOUTH

& WEST INDIES PORTS from GTI

VESSELS DUE AT NSFT/NSICT/NSIGT/GTI/BMCT FOR EXPORT LOADING

TO LOAD FOR WEST ASIA GULF PORTS From NSICT

Shuwaikh, Sohar, Umm Qasr Alligator Shpg. Aiyer Shpg. Jebel Ali. BSS Bhavani Shpg. Jebel Ali, Doha, Kuwait, Bahrain, Bandar

TO LOAD FOR INDIAN SUB CONTINENT from BMCT

TO LOAD FOR

EAST, CHINA & JAPAN PORTS from NSICT

VESSELS DUE AT NSFT/NSICT/NSIGT/GTI/BMCT FOR EXPORT LOADING

& JAPAN PORTS from GTI

(I) South East Asia, Far East, China.

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

In Port 22/07 Interasia Elevate E025 P0717 276350-06/07 Wan Hai Wan Hai Lines Penang, Port Kelang, Hongkong, Qingdao, Shanghai, Dron-1 & Mul CFS

Wan Hai 307 E426 P0752 276559-10/07 COSCO COSCO Shpg. Ningbo, Shekou.

HMM Shpg. Port Kelang, Singapore, Hongkong, Kwangyang, Pusan, Shanghai, Ningbo

Service (CIX/ICX)

Gold Star Star Ship Singapore, Kwangyang, Pusan, Shanghai, Ningbo Ocean Gate Sinokor Sinokor India Port Kelang, Singapore, Hong Kong, Kwangyang, Seabird CFS Busan, Shanghai, Ningbo & Other Inland Destination.

26/0727/07 TBATBA Interasia Progress 073E P0758 276644-11/07 RCL/PIL RCL Ag./PIL Port Kelang, Haophong, Nansha, Shekou.

30/0731/07 TBATBA

VESSELS DUE AT NSFT/NSICT/NSIGT/GTI/BMCT FOR EXPORT LOADING

TO LOAD FOR EAST, WEST & SOUTH AFRICAN PORTS from NSFT

TO LOAD FOR EAST, WEST & SOUTH AFRICAN PORTS from NSICT

TO LOAD FOR EAST, WEST & SOUTH AFRICAN PORTS from NSIGT

TO LOAD FOR EAST, WEST & SOUTH AFRICAN PORTS from GTI

TO LOAD FOR EAST, WEST & SOUTH AFRICAN PORTS from BMCT

Dedicated Freight Corridors, 77% of the project is commissioned: Ministry of Railways

NEW DELHI : The Ministry of Railways has shared an update related to the construction of the Dedicated Freight Corridors project in the country. Till June 2023, 77.2 per cent of the project is commissioned,theMinistryinformed.

“1,046 km commissioned on the Western Dedicated Freight Corridor (WDFC), and 1,150 km commissioned on the Eastern Dedicated Freight Corridor ((EDFC),” said the Ministry. As far as major bridges are concerned, 454 out of 543 are commissioned.

The Ministry also tweeted a video with the caption, “Dedicated Freight Corridors play a vital role in reducing

logistic costs and meeting everincreasing freight transportation needs.”

In India, the Dedicated freight corridors are a network of broad gauge freight railway lines. They only serve freight trains. Consequently, making the freight service in the countryfasterandmoreefficient.

The Dedicated Freight Corridor Corporation of India is responsible for undertaking the planning and development of these corridors. It is also liable for not only the mobilisation of financial resources and the constructionbutalsothemaintenance andoperationofthesecorridors.

It all began in December 2006

when, between India and Japan, an agreement was signed for the development of two exclusive rail freight corridors (Dedicated Freight Corridors -DFC). It was a part of economic co-operation for trade and industry.

a) Between Delhi and Mumbai –WesternCorridorand

b) Between Delhi and Kolkata termed–EasternCorridor.

The Ministry of Railways, under the Eleventh Five Year Plan of India (2007–12),startedtheconstructwork.

The total length of Eastern and Western DFC (Eastern – 1337 km, Western–1506km)–2843Km(except Sonnagar-Dankunisection).

India-UAE currency deal, a bid to change terms of Global trade

NEW DELHI: India is hoping that the rupee would gain in strength as the national economy improves its economicrankingintermsofsizeand how much it could import as well as export.

The MoU signed by the Central Bank of United Arab Emirates and the Reserve Bank of India to set up a frameworktopromotetheuseoflocal currencies – UAE dirham and Indian rupee – may sound bland, but it is both subversive and revolutionary. The framework aims to create the “Local Currency Settlement System”.

In simpler words, it is an attempt to create a localised trading system, in other words a bloc, where each country pays through its currency. Itmeansmovingawayfromthedollar asaninternationalmodeofpayment.

The dollar has indirectly assumed thestatusofastandardcurrency,akin to the abandoned gold standard. There were good and bad reasons why the American dollar became the arbitraryarbitratorofcurrency.

The US was an economic powerhouse. It was buying goods from everywhere and when the purchases were made in dollars, the exporting countries gained much because of the higher value of dollar backedasitwasbyastrongeconomy.

The other factor was that America

was a dominant economic player becauseithasthebiggestshareinthe World Bank and in the International MonetaryFund(IMF).Thedollarwas the big currency because the US was thebigboyoftheglobaleconomy.The US is now a declining economy, not justadecliningworldpower.

StrikingACurrencyPartnership

So it is not surprising that India and the UAE, two growing economies – despite the vast differences in the size of their economies – should want to tweak the rules of trade between the two countries by substituting the dollar as a means of exchange with theirowncurrencies.

There were two ways of choosing the currency for their trade. It could have been the stronger currency, and dirham was stronger than the rupee. As a matter of fact, the dirham became an unofficial global currency of sorts when Russian oil imports in the wake of the war in Ukraine were being paid through dirham instead of the dollar because the Western sanctions did not allow for trade throughdollar.

But India is a far bigger economy and dirham would have been an inadequate bargain counter for the volume of the bilateral trade. The rupee and dirham had to be currency partners to become the fulcrum of payments.

GlobalisationBreaksDown

This new arrangement would mean that there would be no global currency of reference, and each currency has to work out the exchange rate with every other currency. It is a breakdown of a global tradethroughacommoncurrency.

It means the dismantling of globalisation where a homogenous system had made the flow of goods andpaymentssmoothandeasy. India andtheUAEarenotattemptinganyof thesebigthingsinthefinancialterms of global trade. They seem to believe that the new arrangement of paying through one’s own currency would be muchsimplerinbilateraltrade.

But what the UAE has in mind is the expectation that dirham would become a global currency because of the credibility of its currency because of its economic wealth. India too is hoping that the rupee would gain in strength as the national economy improves its economic ranking in terms of size and how much it could importaswellasexport.

But right now, two of the big economies of the world, India and China, are not yet import-friendly economies. They are exportoriented like the Asian Tigers of the 1980s. The UAE is not afraid of imports but its capacity to absorb importsislimited.

Identified investments worth Rs 10 trillion: Shipping Minister

NEWDELHI:TheCentre,inabidto deepen the maritime economy, has identified investment opportunities worth Rs 10 trillion ahead of the Global MaritimeIndiaSummit,Unionminister of ports, shipping, and waterways SarbanandaSonowal said.

“With an identified investment opportunitiesofmorethanRs.10lakh crores in the maritime sector of the country, we are standing at a threshold of a major economic upswing which can generate employment opportunities for more than 15 lakhs youth of India,” the minister said at the curtain raiser for thesummitinMumbai.

India is actively driving the establishment of 5,000 kilometres of multi-country waterways, a significant initiative that will effectively facilitate trade and

transportation across the region, Sonowaladded.

According to government estimates,thereisasignificantscopeof investments in the maritime economy, as major ports currently face an infrastructure deficit. The Rs 111trillionNationalInfrastructurePipeline alsoaimstofillthesegapsandmakethe Indian port economy competitive againstdevelopedeconomies.

The forum will provide a platform for start-ups, researchers, incubators and innovators to showcase their technology&expertise,Sonowalsaid.

“ThefocusareasofGMIS,2023are Ports of the Future; Decarbonization; CoastalShipping&InlandWaterways Transportation; Shipbuilding, repair & recycling; Finance, Insurance & arbitration; Innovation & technology; Maritime Safety & Security and

MaritimeTourism,”headded.

Meanwhile, the current year has seen unprecedented focus on carbon emissions of the shipping sector. The International Maritime Organisation (IMO) has also put focus on countries adopting means to reduce greenhouse gas (GHG) emissions withintheirdomesticeconomies.

“India stands firmly on its commitment to developing environmentally conscious shipping solutions,”Sonowalsaid.

The Centre plans to inaugurate carbon-neutralalternativesandboost the use of battery-powered vehicles and apparatus in our major ports. Green Port guidelines were also launched by the shipping ministry earlier this year, to enable stateowned ports to achieve net-zero carbonemissions.

SHIPPING MOVEMENTS AT DEENDAYAL PORT

TODAY’S TIDE 21/07/2023

VESSELS IN PORT & DUE FOR EXPORT LOADING

VESSELS IN PORT & DUE FOR IMPORT DISCHARGE

GENERAL CARGO VESSELS

LIQUID CARGO VESSELS

READY FOR

SHIPS NOT READY FOR

KANDLA INTERNATIONAL CONTAINER TERMINAL (KICT)

SHIPPING MOVEMENTS AT ADANI PORT

ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

/ IN PORT FOR

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

ADANI CMA MUNDRA CONTAINER TERMINAL PVT LTD (ACMTPL), MUNDRA

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

TO LOAD FOR EAST, SOUTH & WEST AFRICAN PORTS

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

OTHER PORTS OF GUJARAT

21-07-2023) MULDWARKA PORT NB The data in this Daily pertaining to Ports Information is received by us, sometimes even at the eleventh hour by telephonic messages from the concerned Steamer Agents. Therefore, there is every likelihood of last minute change in the data published the Management of Daily Shipping Times exercise every necessary care & attention in collecting every data & getting it published accurately Inspite of this, if any ommission, inaccuracy or printing error occur in the data published in this daily, the Management of Daily Shipping Times is not responsible or liable.

VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

NSFT

NSICT

Vessel Name (Voy) Sailing Dt. Next Port EXPORT SAILING FROM NSFT

Jebel Ali As Alexandria (V-0016) 16-07-2023 Jeddah KMTC Delhi (V-2304E)

AICT G H Harmony (V-11INDSTP)

IMPORTER'S GUIDE

17

18 Mariman Shaan Marine

19/20 Navios Lyra T M International

21 Schuyler Trader MNK & Co.

B.Pier Sunny Hong J M Baxi

B.P. Extn. Christina Mitsutor

OCT 1 Egret Bulker Marcons

OCT 2 (Kuwana) NYK India

JNPJNP JNPCT/COASTAL/ CT/COASTAL/ CT/COASTAL/ CT/COASTAL/LIQUID BERTH LIQUID LIQUID BERTH

SB-2 SB-3 Southern Quokka GAC

Apinya Naree J M Baxi LB-1 Varinsart Samsara

San

CB-4 CMA CGM Valparaiso CMA CGM Agency India CB-5 CUL Jakarta Emirates

GTI-1

GTI-2 Northern Diamond Maersk India

BMCT-1 Seaspan Felixstowe Zim Integrated

BMCT-2 Interasia Elevate Interasia Shipping

BMCT-3 Ever Ursula Evergreen (I)

´´ ´ ´ CUSTOM EXCHANGE RATESALL RATES PER UNIT

W. E. F. 07-07-2023

ON 20-07-2023 ´ ´ FOREIGN EXCHANGE RATES

´´ ´ ´ We are not responsible for any mistake. ALL RATES ARE PROVISIONAL. The rates in this column are only meant for guidance.

VESSELS DUE/IN PORT FOR IMPORT DISCHARGE AT MUMBAI

for

Transworld Group’s Airavat Aviation launches sustainable luxury private air travel in the Middle East

Airavat’s fleet of Hawker 4000, the super-midsize business jets will operate on demand to Europe, Africa, Asia and Middle East from Dubai

Cont’d. from Pg. 3

According to reports, the Middle East and Africa Jet Charter market size is expected to grow from USD 511.52 million in 2023 to USD 851.90 million by 2028. With an eye on the growing market for luxury travel in the region, Airavat aims to cater to ultra-high-net-worth individuals (UHNWIs) and business leaders seeking safe, luxurious, and environmentally conscious travel experiences and capture 8 to 10% market share over the next five years. Leveraging its state-of-the-art private jets equipped with groundbreaking technology, Airavat ensures passengers enjoy a seamless, flexible, and discreet luxury travel experience.

“Today's UHNWIs, HNWIs, business leaders, and C-suites not only seek customized travel experiences but are also increasingly environmentally conscious," said Ramesh S. Ramakrishnan, Chairman of Transworld Group. "With the launch of Airavat, we aim to introduce a new dimension of bespoke luxury thatseamlesslyblendsaviation,travel,andhospitality with sustainability. Drawing on Transworld Group's legacy,Airavat'shuman-centricfocusdeliversbest-inclassluxuryprivatejetservicestoourcustomers."

The strategic selection of Airavat's routes also aims to strengthen the Indo-Arab relationship by facilitating private aviation travel between these regions. As the private aviation sector experiences exponentialgrowth,withsomemarketswitnessingup to a 150% increase compared to pre-pandemic years, the Middle East has emerged as a destination renowned for unrivaled luxury experiences, innovative enterprises, and sustainable megadevelopments. This vibrant region attracts affluent individuals and influential thought leaders from aroundtheworld.

In line with its commitment to sustainability, Airavat has partnered with a registered NGO to plant trees for every flight, effectively offsetting the carbon footprint of their operations. This initiative contributes to the aviation sector's goal of achieving net-zero carbon emissions by 2050, aligning with globaleffortstocombatclimatechange.

Airavat's entrance into the luxury private jet market brings a fresh perspective to the region, combiningopulence,convenience,andenvironmental responsibility. As the demand for personalized and sustainable travel experiences continues to grow, Airavat aims to make a significant dent in the market, providing discerning travellers with a new level of luxurythatleavesalastingimpression.