Sun, May 28, 2017 | updated 01:04 AM IST

USIBC's inaugural logistics industry team meet civil aviation minister

Updated: Sep 26, 2016 15:43 IST      
USIBC's inaugural logistics industry team meet civil aviation minister
New Delhi [India], Sept.26 (ANI): The U.S.-India Business Council (USIBC) concluded its inaugural Logistics Industry Mission to New Delhi on September 23.

The delegation, led by Rajesh Subramaniam, Executive Vice President, Marketing and Communications, FedEx, comprised of representatives from FedEx Express, DHL Express, Boeing, Brambles/CHEP, TransAsia, and other U.S.-based companies.

The delegation expressed its commitment to working with the Government of India to create a stronger ecosystem to incentivize investment and ensure the smooth functioning of India's promising logistics industry along with exploiting the benefits of an impending ecommerce boom.

The delegation discussed three important ways by which the American logistics industry could work with the Government of India to support the country's aspirations of integrating with the global supply chains, and boost trade and economic growth.

The delegation's meetings with the Government of India included Ministry of Finance's Central Board of Excise and Customs Chairman Najib Shah, Ministry of Civil Aviation, Ministry of External Affairs, Ministry of Road Transport & Highways, and the Ministry of Commerce's DIPP.

The delegation expressed their commitment to stronger U.S.-India economic ties in logistics with U.S. Ambassador to India Richard Verma, and shared specific policy recommendations with the Minister for Civil Aviation Ashok Gajapathi Raju, to facilitate the efficient functioning of express service operators in India.

The delegation's top three policy priorities were anchored around the following: Streamlining the GST to actually support the logistics industry; easing customs regulations through the expedited and meaningful implementation of the WTO Trade Facilitation Agreement; and eventually ensuring the success of strong physical infrastructure to support the ecommerce boom.

The GST is a game-changer for India's logistics industry. However, the group advocated for a truly restriction-free flow of goods at interstate borders by ensuring efficient communication between the customs and GST authorities, as well as ease of doing business with regard to Know Your Customer requirements and de minimis rules. To support the impending ecommerce boom - and in turn to augment the "just in time" manufacturing model - the delegation stressed on the early implementation of the WTO Trade Facilitation Act. The delegation applauded the Government of India's rollout of the Single Window Interface but also requested a similar model to support the express services industry using the courier mode.

"In logistics, India is heading toward a win-win situation for itself and its trading partners. On this USIBC mission, we met with key officials in the Government of India. The goal was to identify ways the American logistics industry could work with the government to support the country's aspirations of integrating with global supply chains, becoming an international logistics hub, and boosting overall jobs and economic growth. The potential of the Indian economy is immense, but to reach that potential India must continue to reform its logistics sector and find ways to reduce logistics costs. Further GST reforms, trade facilitation and infrastructure investments are keys to delivering a more competitive and inclusive economy for India," said Subramaniam, chairing the delegation.

The delegation also participated in an industry reception hosted by Mphasis, an IT services company, where Puneet Bhirani, Chief Administrative Officer, expressed the growing importance of India's logistics sector.

The mission's Knowledge Partner, Knight Frank India, also unveiled its "India Warehousing Market Report 2016" at this reception. The report provides warehousing sector dynamics in India's top seven cities. Dr. Samantak Das, Chief Economist and National Director, Knight Frank India, noted: "The current environment is likely to accelerate progress in the logistics sector in India, considering the interest from government as well as private enterprises. The GST will amalgamate several central and state taxes into a single tax to facilitate a unified national market. Further, inter-state industrial corridors, such as the ambitious Delhi Mumbai Industrial Corridor (DMIC), and freight corridors, such as the Western and Eastern Dedicated Freight Corridors, are gaining renewed focus. Our first report in the series-India Logistics & Warehousing Report 2014-was a detailed handbook introducing warehousing sector dynamics, such as demand drivers, policies and regulations, business models, and enabling infrastructure and emerging trends, among others. We see a great potential in the overall logistics sector, with warehousing being a key element in it." (ANI)

Criminal prosecution by IT Dept. surged by cent pct during Modi regime

Updated: May 27, 2017 19:41 IST      By: Shailesh Yadav

New Delhi [India], May 27 (ANI): Criminal prosecution by the Income Tax Department has witnessed a sharp increase of more than 100 percent during the last three years of Prime Minister Narendra Modi-led Government.

Full Story >>

New Delhi [India], May 27 (ANI): Aiming to empower Nagpur's electric mobility drive, Ola and Mahindra on Friday announced their collaboration with the Government of India in a first-of-its-kind programme to build an electric mass mobility ecosystem in Nagpur, which will bring about a transformational change in the automotive and transportation landscape in the country.

Full Story >>

New Delhi [India], May 27 (ANI-NewsVoir): President of India Pranab Mukherjee received the first copies of the book 'Mann Ki Baat' - A social revolution on Radio, at Rashtrapati Bhavan, New Delhi, on May 26, 2017.

Full Story >>

New Delhi [India], May 27 (ANI-NewsVoir): Indian-American Businessman Nitin Khanna entered California with his Cannabis business, the fastest growing industry in America. As more states legalize recreational use, the demand for premium cannabis is expected to increase. With a population of 39.1 million, California is the largest market in America within this industry; it was also the first state to legalize the medical use of marijuana back in 1996.

Full Story >>

Epson launches express service centres in NCR

Updated: May 27, 2017 09:23 IST     

New Delhi [India], May 27 (ANI): Digital imaging and printing solutions provider Epson on Friday announced the inauguration of two express service centres in Noida and Gurugram.

Full Story >>

Pune (Maharashtra) [India],May 26 (ANI-Businesswire India): Bajaj Finserv, India's most diversified financial company, through its lending arm Bajaj Finance, is offering home loans at just 8.50% for a limited period. The special offer is valid till May 29, 2017.

Full Story >>

Jugnoo takes a big leap in restaurant aggregation

Updated: May 26, 2017 16:51 IST     

New Delhi [India], May 26 (ANI-Newsvoir): Jugnoo, India's leading hyper local startup, offering a diverse range of services like rides, ready to eat meals, restaurant food delivery, grocery and B2B Delivery, records phenomenal growth for its restaurant aggregator vertical, menus.

Full Story >>

GST Bill unanimously approved in Tripura

Updated: May 26, 2017 15:15 IST     

Agartala (Tripura) [India], May 26 (ANI): On the concluding day of the three-day session of the Tripura Assembly on Thursday, the Left-ruled state approved the Goods and Services Tax (GST) Bill unanimously by voice vote.

Full Story >>

Sensex surpasses 31,000 mark, shoots by 255.17 points

Updated: May 26, 2017 14:54 IST     

New Delhi [India], May 26 (ANI): Achieving yet another milestone in just a few hours, the Sensex on Friday saw a significant surge, reaching a fresh all time high of 31,005.20, recording a rise by 255.17 points, with Nifty inching closer to the 9,600-mark.

Full Story >>

New Delhi [India], May 26 (ANI): The most economically developed states are not adequately adding to skill sets, which may result in severe shortages of skilled manpower in the coming years, according to an ASSOCHAM-Thought Arbitrage Paper.

Full Story >>

FICCI to set up StudyinIndia pavilion at NAFSA 2017

Updated: May 26, 2017 13:20 IST     

New Delhi [India], May 26 (ANI): The Federation of Indian Chambers of Commerce and Industry (FICCI), along with the Ministry of Commerce, Government of India and Service Export Promotion Council and in partnership with Education Promotion Society for India will be setting up a 'StudyinIndia' pavilion, leading a delegation of over 50 Indian higher education leaders to the 69th Annual NAFSA conference scheduled to take place from May 28 to June 2 2017, in Los Angeles, U.S.A.

Full Story >>

Atal Pension Yojana registers 53 lakh subscribers

Updated: May 26, 2017 12:36 IST     

New Delhi [India], May 26 (ANI): The subscriber base under the Atal Pension Yojana (APY) reached approximately 53 Lakhs. At present, 235 banks and the Postal Department are involved with the implementation of the scheme. Besides the branches of the banks and CBS-enabled offices of India Post, quite a few banks are sourcing subscribers through their internet banking portals in a paperless environment.

Full Story >>

New Delhi [India], May 26 (ANI): The Central Board of Direct Taxes (CBDT) on Friday issued a clarification on furnishing statements of financial transactions.

Full Story >>

New Delhi [India], May 26 (ANI): The market on Friday witnessed a surge in its trade with the Sensex and Nifty hitting an all time high of 30,862.63 and 9,534.75 respectively.

Full Story >>

New Delhi [India], May 26 (ANI-BusinessWire India): ITC Limited has won the prestigious Porter Prize 2017 award for 'Excellence in Corporate Governance and Integration' and for its exemplary contribution in 'Creating Shared Value'.

Full Story >>

New Delhi [India], May 26 (ANI): C-Zentrix, a Gartner Magic Quadrant for CCI 2016-recognised product company and a cloud-based advance communication management provider on Thursday announced the launch of two new products in its customer engagement solutions portfolio, 'TrixChat' and 'ZenBot'.

Full Story >>

nexGTv now available on Amazon's Fire TV Stick

Updated: May 26, 2017 08:10 IST     

New Delhi [India], May 26 (ANI): nexGTv, a subscription-led video entertainment app on Thursday made its big-screen debut with its launch on Fire TV Stick, a digital streaming device from Amazon, and is now available on Amazon India.

Full Story >>

New Delhi [India], May 25 (ANI-NewsVoir): Rakesh Kapur, Joint Managing Director, Indian Farmers Fertiliser Cooperative Limited (IFFCO), has been elected as the Chairman of the International Fertilizer Association (IFA) at the recent IFA's Annual Conference held from May 22nd - 24th in Marrakech, Morocco in which 1400 participants were present.

Full Story >>

New Delhi [India], May 25 (ANI-NewsVoir): Unveiled at its Insights 2017 customer conference, Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth, has introduced the latest version of Epicor ERP, the global enterprise resource planning solution in use today by thousands of customers in 150 countries worldwide.

Full Story >>

New Delhi [India], May 25 (ANI): Credit rating agency ICRA expects Indian GDP and gross value added (GVA) at basic prices to expand by 7.1 percent and 6.9 percent, respectively, in year-on-year (YoY) terms in Q4 FY2017.

Full Story >>