Bhavani Foundation helps rain affected people in Maharashtra August 20 , 2019

MUMBAI: Bhavani foundation has come forward to help the villagers in the areas of Western Maharashtra that got severely impacted by heavy rains. Life is slowly inching back to normalcy in flood-ravaged Kolhapur and Sangli as flood waters have receded in these districts of Maharashtra.
Bhavani foundation reached these districts to help the people with water bottles, food, clothes, medicines and other basic needs. The situations in Shirol & Karveer tehsil were severely affected by floods.
Bhavani Foundation came forward to the remote areas in Shirol & Karveer Tehsil like Ambewadi, Savlemal, Masubamal, Haringanmal, Chikli, etc, and started distributing water and food in the flood-affected area.
Bhavani Foundation never fails to contribute for various social activities for the welfare of the community.
Founder President - Bhavani Foundation & Managing Director - Bhavani Group, Mr. K. D. Shetty assured that the people from these districts can contact Bhavani foundation for any help as Bhavani Foundation has always stepped in for helping farmers, students & deprived people and will continue to help others every time.

Trade War can remove 0.5% Container demand in 2019 & 2020 : Maersk

COPENHAGEN: AP Moller-Maersk has warned that the ongoing US-China trade war is impacting growth, and it could “in isolation remove up to 0.5% of global container demand” in 2019 and 2020. While global container trade grew by around 2% in the second quarter of 2019 compared to the year-ago period, there has been a broad-based slowdown in all major economies with negative effects from escalating trade restrictions also weighing on trade growth.
In April, the US raised tariffs on Chinese imports from 10% to 25% on goods with value equivalent to 2-3% of globally traded goods. Later in early August, US tariffs of 10% on additional $300bn was announced to take effect by 1 September 2019.
 “So far, US importers have shifted imports away from China to other countries such as Vietnam, Korea, Thailand, India and Mexico,” Maersk stated in its latest second quarter results report.
“The impact of the newly imposed tariff hike is expected to be significant for the US-China bilateral trade and could in isolation remove up to 0.5% of global container demand in 2019 and 2020, and when US tariffs on additional $300bn is implemented later in the year, it could result in a reduction of up to 1% in 2020,” Maersk stated.
The Shipping Group’s CEO Soren Skou warned that the low growth scenario is not expected to end soon, and there is a possibility of a recession, though it is unlikely to happen in the US in 2019 or 2020.
For the full year 2019, global container trade is projected to increase by 1-3%. Uncertainties relating to the strength of container demand in 2019 pose a downside risk to freight rates in general, Maersk added.

Trading with World : Export Promotion Schemes provided by Govt to boost exports from India

MUMBAI: After the "Make in India" initiative by the Modi Government, Indian exports have increased manifold. There are numerous export schemes, financial aids and other benefits provided by the Government of India to exporters which have led to this increase in exports.
The following are the various export schemes provided by the Government of India so that the Indian economy grows with a corresponding increase in foreign exchange reserves:
• Advance authorization scheme: This scheme allows businesses to import inputs within the Country without paying any duty. However, such inputs should be utilized further for the production of an export item.
•             Advance authorization for annual requirement: This scheme is for those exporters who have had excellent export performance for the last two years. Such exporters can benefit from the Advance Authorization for Annual requirement scheme.
•             Customs, Central excise, and export duty drawback scheme:
In this scheme, the exporters can get a refund of all duty and taxes which were paid for the inputs against the exported products. The Duty Drawback is nothing but the refund that is received by the exporter. If the export schedule does not have the details of the duty drawback scheme, the exporter can speak to the tax authorities to get a brand rate as per the duty drawback scheme.
•             GST tax rebate: The Government of India also offers rebates on GST to exporters, if such output services for the export goods are specified.
•             Duty-free import authorization: This scheme, which is provided by the Government of India, is clubbed with the Duty Exemption Entitlement Certificate (DEEC) (Advance License) and Duty Free Replenishment Certificate (DFRC) so that the exporters can get free imports on certain products.
•             Export Promotion Capital Goods' (EPCG) zero duty scheme: This scheme applies to all the exporters who are into electronic goods. Zero percent customs duty is to be paid by the exporter in case the export value is at least six times that of the duty saved on imports of capital goods for production, pre-production, and post-production. The exporter must confirm the value which is an export duty, within six years of the issue date.
•             Post Export EPCG duty credit scrip scheme: As per this scheme, exporters can get an EPCG license and directly pay to the Customs Officials if they are not sure about paying the export obligation. The Government can refund the exporter taxes which were paid earlier and which satisfy export obligations.
•             Towns of Export Excellence (TEE): The towns of export status are such towns which produce and export goods which are above a particular value in some of the identified sectors. Such statuses given to the towns are based on their performance and potentiality of exports so that they can enter new markets.
•             Market Access Initiative (MAI) scheme: This scheme provides financial advice to such agencies who directly or indirectly are involved with marketing activities like market research, capacity building, branding, and compliances in importing markets.
•             Marketing Development Assistance (MDA) scheme: The main motive of this scheme is to encourage export activities abroad, help the Export Promotion Councils to promote their products and to take such other measures to market internationally.
•             Scheme related to Merchandise Exports: This scheme applies to the export of certain goods to some particular markets. Benefits for exports under this scheme are payable as a percentage of the realized Freight on Board (FOB) value.
•             Rebate of State Levies: This scheme allows the exporters to claim refunds from the center for all such levies and duties which are paid by the exporters at the state level.
•             Freight Assistance to Exporters: The Government has introduced Transport and Marketing Assistance (TMA) scheme to enhance the exports of agricultural products by providing a definite amount of freight charges as reimbursement and to provide help to the exporters for the marketing of agricultural products.
Considering that the Indian economy is one of the fastest growing economies in the World, the Government of India has created various economic policies which can enhance India’s economic
progress. Improving Indian exports is one such plan of the Government. Thus, the Government has taken a quite a few steps towards enhancing the exports of India by introducing the export benefit schemes as mentioned above. The main objective of these export benefit schemes is to simplify the entire export process and make it easier.
Authored by - Abhishek Gupta - Founder of Starters’ CFO - a virtual CFO service for small businesses in India.

TEA urges Govt for an alternative scheme after MEIS removal August 16 , 2019

TIRUPUR: Tirupur Exporters’ Association (TEA) has urged the Government to come out with an alternative scheme with the same benefits of the Merchandise Exports from India Scheme (MEIS) for the growth of the readymade garments industry.
In its appeal to the Centre, TEA said that MEIS, a lifeline support given to exports including readymade garments, was removed from August 1, 2019 onwards due to more pressure coming from the WTO, further to a complaint lodged by the US with the WTO dispute settlement body. Actually the scheme (MEIS) was introduced for offsetting the infrastructural inefficiencies faced by exports of specified goods including readymade garments to provide a level playing field. It is a fact that the enhanced competitiveness is mainly needed to sustain in the global market.
When the exporting units are in a less competitive and disadvantageous position, the buyers obviously resort to competing countries and the concern is that if the buyers leave India and settle in a competing Country, it would be difficult to bring them back immediately. In view of this, sops are required for sustenance of the readymade garment (RMG) sector, said Raja M Shanmugham, President, TEA.
“We wish to point out that the removal of MEIS will crumble the business created over a period of time.  Non-addressing of some of the core issues, including arresting infrastructure deficiency, signing of FTA with the EU, CEPA with Canada, CECA with Australia and bringing down the interest rates will further put pressure on the industry,” Shanmugham said in TEA’s letter to the Centre.

Digital logistics platforms disrupting Transport industry

MUMBAI: Advanced technological innovations are  disrupting the traditional transport and logistics industry across the globe. As a result, the conventional players in the logistics and transport system are innovating new ways to survive and sustain their business.
As the logistics and transport market has entered into a technological transformation, the transport companies need to be prepared to adapt to the change by innovating new business models, claims a study by Navigant Research.
In the last few years, a wide range of companies has emerged to provide real-time freight booking and pricing services that have improved efficiency and lowered the cost as well. In the global market, the apps and services like Uber Freight, Convoy, Transfix etc have helped in lowering the labour and material cost as well. In India, Porter and TruckSuvidha too are offering similar services.
Using these service and apps, shippers can view the available trucks and third-party logistics providers nearby and can book directly with a click of a button instead of using the conventional and lengthy brokerage process. The freight capacity too can be easily located using these apps and services.
Known in various names like smart logistics platforms, digital freight solutions, on-demand trucking, or even the Uberization of freight, these companies have one thing in common. They are transforming the speed and way how freight and logistics are brokered.
These apps and services help the logistics and freight booking market move swiftly and efficiently, removing wasted time on the booking process and getting the right trucks for payload quicker. The study expects the adoption of digital logistics platforms to increase further.
With mobile applications, freight pricing, and matching algorithms becoming more sophisticated and convenient for users over time, these platforms will expand further. Also, implementation of autonomous driving technology in the commercial vehicle segment expedite the process as these logistics platforms can be easily integrated into the self-driving technology.
New technologies to disrupt last-mile logistics
New technologies like delivery bots, drones could upend the last mile logistics, claims the study. These innovations are a result of the rising labour cost, as many shippers and carriers including Amazon, are experimenting with such technologies.
A study reveals that a reduction of just one driver mile a day can save up to $5 million per year. These disruptive technologies could easily transform the conventional logistics market by delivering the products faster, efficiently and in a cheaper way.
These technologies are far smaller than trucks and could prove to be cost-efficient compared to manufacturing a traditional truck. Also, these technologies come with substantially lower carbon footprints as well, besides removing the problem of road congestion. Apart from that, they can be easily integrated with automation and electrification as well.
The study points out that these technologies could revolutionize the way high priority goods like medical supplies and foods are delivered.
 

CONCOR and Indian Railways join hands to commence Container Train operation from Suranussi, Jalandhar

FEROZEPUR: Container Corporation of India Ltd. – CONCOR – a Navratna PSU of Ministry of Railways and Indian Railways join hands to commence Container Train operation from Suranussi, located near Jalandhar in Ferozepur Division of Northern railway, said T. P. Singh, General Manager, Northern Railway during the press conference at Ferozepur.
A land license agreement was signed at Ferozepur Division on 12th August 2019 between Railways and CONCOR at a glittering ceremony graced by T. P. Singh, General Manager (Northern Railway), Rajesh Aggarwal, DRM, Ferozepur, Sanjay Swaroop, Director International Marketing and Ops, CONCOR, Kamal Jain, Executive Director CONCOR (Northern Region) and other Senior Officers from Railways.
This new facility shall give impetus to transportation of Domestic and Export-Import cargo in containers from the catchment areas of Jalandhar, Hoshiarpur, Kapurthala and Amritsar.
Earlier, this Container Rail Terminal was opened on trial basis in March 2019 during which a total 540 TEUs (Twenty Equivalent Unit) Containers – in six container trains were handled moving 12,690 Metric Tonne of cargo to various parts of Country on Multi-Modal basis by CONCOR.
Sushil Kumar, Sr. Div. Engineer-II, Ferozepur Div. and Vineet Mathur, Chief Manager, CONCOR, Ludhiana signed the agreement on behalf of Railways and CONCOR respectively

PSA International & SCG Logistics to launch Joint Venture firm

SINGAPORE: PSA Thailand and third party logistics provider SCG Logistics Management Company have come together to jointly invest in the development and operation of the Thai Prosperity Terminal in Thailand, and rebranding it Thai Connectivity Terminal (TCT).
PSA Thailand and SCG Logistics will set up a joint venture firm in Thailand called SCG-PSA Holdings Co, which will serve as a springboard for potential joint exploration and investment in supply chain related opportunities across the region, with a major focus on Thailand.
TCT, sited along Thailand’s Chao Phraya River in Bangkok, is a well-established river terminal that directly serves the hinterland in and around the capital city.
TCT is well connected to the Deepsea port at Laem Chabang, allowing it to cater to the varied needs of local and regional cargo owners.
“Capitalising on TCT’s strategic location, PSA is committed to growing this critical node as part of our greater transport and cargo solutions network, and to open up more avenues of opportunity for the movement of goods and materials throughout the region,” said Ong Kim Pong, Regional CEO Southeast Asia, PSA International.