Friday, November 29, 2019

Ports are stronger together feels Port of Antwerp

ANTWERP: In 2019 Port of Antwerp signed MoUs (Memoranda of Understanding) with ports all over the world. Various project teams from the different ports are working towards wider partnership aimed at facing the challenges of the future together and achieving higher levels of performance. 
 
The first MoU of the year was signed with Montreal Port Authority. This was an extension and broadening of another agreement signed in 2016. Under the new MoU a project plan is being set up focusing on solutions for mobility, energy transition, sustainability and security.  
This was followed by MoUs with Port of Buenos Aires, Port of New York New Jersey and the French umbrella organisation Hauts-de-France.
 
These smaller agreements concerned shared promotion activities and more intensive collaboration. They included agreements on sharing logistics information, exchanging new findings on innovation and digitisation, and generating new trade flows. But in all cases the wider aim was to develop together as ports of the future.  
 
"We found that there are great similarities between our long-term vision and those of our partners," explains Wim Dillen, International Development Manager at Port of Antwerp. "We hope to learn from one another by sharing best practices in innovation, digitisation, promotion and business development. By so doing we will develop together in a sustainable way and improve our services for international shippers, forwarders and shipping lines."
 
Collaboration for sustainable transport
The collaboration extends not only to ports. An MoU was signed on 18 September with the Moravia-Silesia region of the Czech Republic and the Czech rail company SŽDC for development of a new rail container terminal, with the aim of setting up a rail link between Antwerp and the Mošnov industrial zone. In this way products from the Czech heartland will be able to reach Antwerp and vice-versa easily in a sustainable way, said an Antwerp Port statement.

JNPT observes 70th Constitution Day November 29 , 2019

NAVI MUMBAI: Jawaharlal Nehru Port Trust (JNPT), India’s premier Container Port celebrated Samvidhan Divas to commemorate the adoption of Constitution of India on Tuesday, November 26, 2019 with great enthusiasm and participation of all the officials and staff of JNPT. 
The Preamble of the Constitution of India was read out by Shri Sanjay Sethi, IAS, Chairman, JNPT in the presence of Head of Departments, Officers and staff of JNPT.
 
“On this day, we celebrate the spirit of freedom and democracy of this great Country. Today we pay our homage to the father of Indian constitution, Dr. Babasaheb Ambedkar for capturing the true spirit to make India a Sovereign, Secular, Socialist, Democratic and Republic Nation. The right to life and the freedom of speech empower citizens to lead a life according to their choice. 
 
JNPT is proud of its contribution to the nation and of upholding the constitutional values,” said Shri Sethi.
 
It was on November 26, 1949 that the Constituent Assembly of India formally adopted the Constitution of India, which subsequently came into effect on January 26, 1950. Accordingly, November 26 is celebrated as the country’s Constitution Day every year to value and preserve the rich heritage and the composite culture of India. This year, JNPT will be holding year-long activities highlighting citizens' duties through talks, rallies and other activities as part of the awareness campaign, said a JNPT release.

Indian PSEs should boost Exports through High-Level Export Strategy Committee: CII

NEW DELHI: “Setting up a High-Level Export Strategy Committee will implement the five-point agenda set out by the Prime Minister for enhancing the competitiveness of Indian PSEs by 2022.
A short-term (5 years) and long-term (10 years) roadmap for the PSEs, clearly laying down exports and growth targets, is the order of the day to enhance their geo-strategic reach,” stressed Mr Chandrajit Banerjee, Director-General, Confederation of Indian Industry (CII).
CII Research has brought out a report ‘Can the Indian PSEs enhance their Geo-strategic reach’, which presents a roadmap to expand exports and geo-strategic reach of PSEs by 2022. It recommends that PSEs bid for international projects as a consortium, leveraging each other’s mutual competence, experiences and strengths. They should also leverage regional and bilateral trade agreements in sectors where they have a comparative advantage.
 
Most PSEs have been exporting and/or have an international presence. As per the CII report, they now have presence in over 80 countries across diverse regions with majority concentrated in the South Asian region. A number of them are moving away from their traditional markets to new markets, such as Africa and Cambodia, Laos, Myanmar and Vietnam (CLMV).
 
The report points out several domestic and external barriers, which are inhibiting the PSEs’ ability to enhance exports. Lack of autonomy, multiple procedures, management gaps, and so on lead to loss of potential business opportunities.
 
The report further identifies that many PSEs do not even have a dedicated international desk or in-house teams which can support exports and international competitive bidding. There are wide variations in terms of support available from the Nodal Ministry/Reporting Ministries of the PSEs. CII suggested a well-defined process for sharing of information between the Indian Embassies, nodal Ministries, PSEs and their associations.
The CII report underscores that India’s Public Sector Enterprises can enhance their geo-strategic reach by 2022 with the actioning of the 15-point recommendations for the PSEs, Government and industry associations.

Real estate ancillary industries counting on ‘stress fund’ for revival

The real estate sector and the construction industry together form the second-largest employer in India. Once construction of housing projects resumes, ancillary industries expect to get more business

Read more at:
//economictimes.indiatimes.com/articleshow/72289657.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
The real estate sector and the construction industry together form the second-largest employer in India. Once construction of housing projects resumes, ancillary industries expect to get more business

Commerce Minister highlights initiatives of Export Development Fund to boost exports November 29 , 2019

NEW DELHI: The Minister of Commerce and Industry, Piyush Goyal, has informed the Parliament that India’s overall exports (merchandise and services) has increased from USD 498.63 billion in 2017-18 to USD 538.07 billion in 2018-19, registering a positive growth of 7.91% as compared to the previous year. India’s exports have also increased from USD 262.14 billion in 2018-19 (Apr-Sept) to USD 266.63 billion in 2019-20 (Apr-Sept), showing a positive growth of 1.71% during current year.
 
There exists Export Development Fund (EDF) in Export-Import Bank of India under the provisions of the Export-Import Bank of India Act, 1981.
 
Government has taken following steps to increase exports and thereby earn foreign exchange for the Country:
I. A new Foreign Trade Policy (FTP) 2015-20 was launched on 1st April 2015. The policy, rationalised the earlier export promotion schemes and introduced two new schemes, namely Merchandise Exports from India Scheme (MEIS) for improving export of goods and Services Exports from India Scheme (SEIS) for increasing exports of services. Duty credit scrips issued under these schemes are fully transferable.
ii. The Mid-term Review of the FTP 2015-20 was undertaken on 5th December, 2017. Incentive rates for labour intensive/MSME sectors were increased by 2% with a financial implication of Rs 8,450 crore per year.
iii. A new Logistics Division was created in the Department of Commerce to coordinate integrated development of the logistics sector. India’s rank in World Bank’s Logistics Performance Index moved up from 54 in 2014 to 44 in 2018.
iv. Interest Equalization Scheme on pre and post shipment rupee export credit was introduced from 1.4.2015 providing interest equalization at 3% for labour intensive/ MSME sectors. The rate was increased to 5% for MSME sectors with effect from 2.11.2018 and merchant exporters were covered under the scheme with effect from 2.1.2019.
v. Various measures for improving Ease of Doing Business were taken. India’s rank in World Bank Ease of 
Doing Business ranking improved from 142 in 2014 to 63 in 2019 with the rank in trading across borders moving up from 122 to 80.
vi. A new scheme -Trade Infrastructure for Export Scheme (TIES) - was launched with effect from 1st April 2017 to address the export infrastructure gaps in the Country.
vii. A comprehensive Agriculture Export Policy was launched on 6th December, 2018 with an aim to double farmers’ income by 2022 and provides an impetus to agricultural exports.
viii. Transport and Marketing Assistance (TMA) scheme has been launched for mitigating disadvantage of higher cost of transportation for export of specified agriculture products.  
ix. A scheme for Rebate of State and Central Taxes and Levies (RoSCTL) covering export of garments and made-ups was notified on 7.3.2019 providing refund of duties/taxes at higher rates.
 

Shipping Minister approves Project of Rs 25.58 crores for Development of Loktak Inland Waterways Project in Manipur November 29 , 2019

NEW DELHI: The Ministry of Shipping recently gave approval for the development of Loktak Inland Water ways improvement project in Manipur under the central sector scheme. The estimated cost of the project is Rs 25.58 crores. The Loktak Lake is the largest fresh water lake in North East located at Moirang in Manipur.
 
In an official statement, the Minister for Shipping (I/C) and Chemical & Fertilizers Shri Mansukh Mandaviya said that Northeast is a beautiful region with stunning land scapes and holds a lot of opportunity for tourism purposes. He said that the project will develop the Inland water transport connectivity in North East States and give boost to the tourism sector also.

Action taken against 1,271 firms for misusing Export Promotion Scheme: Piyush Goyal November 29 , 2019

NEW DELHI: The Commerce Ministry has taken action against 1,271 companies for misusing facilities under the export promotion scheme during the last three years, Parliament was informed.
 
For misuse of facilities, companies have been denied further facilities under the export promotion scheme, their importer exporter code (IEC) has been cancelled/suspended, financial penalty imposed, and recovery proceedings initiated, Commerce and Industry Minister Piyush Goyal said to Lok Sabha.
 
"Action for misuse of facilities under Export Promotion Scheme during the last three years has been taken against 1,271 companies by Directorate General of Foreign Trade," he said.