Infrastructure investment and GST implementation will help Logistics industry grow at 10.5% CAGR states TeamLease report titled ‘Indian Logistics Revolution - Big Bets, Big Jobs’. According to the report, public investment coupled with consumption and industry evolution will drive the growth of the INR 14,19,000 crore Logistics sector. The impact of each of these factors on the seven sub-sectors 1) Road Freight 2)Rail Freight 3)Warehousing 4)Waterways 5)Air Freight 6)Packaging and 7)Courier Services is likely to result in 3 million new jobs, upping the employment numbers in the sector from 10.9 million (current) to 13.9 million by 2022. As per the 2018 budget, public investment of INR 6 Lakh crore has been promised to infrastructure, of which 50%, .i.e. INR 3 Lakh crore will b
In the recent years, digitisation has led to disruption of major industries and sectors, transforming business processes and functions. Logistics, however, has been one of the least impacted sectors. This is slowly changing as the next generation entrepreneurs from the freight forwarding community are taking up the challenge of disrupting the sector through innovative digital solutions. With a fresh focus on organising the sector, streamlining pricing and operations and introducing automated and transparent processes, the new age digital logistics start-ups are bringing in a fresh wave of reforms, even as the sector continues to hold on to the set systems and processes of the past. Key Challenges Faced By Logistics Startups Transition From Offline To Online For decades, the logistics
Infrastructure investment and GST implementation will help the logistics industry grow at 10.5% CAGR, says a TeamLease report titled ‘Indian Logistics Revolution - Big Bets, Big Jobs’. According to the report, public investment coupled with consumption and industry evolution will drive the growth of the Rs 14,19,000 crore logistics sector. The impact of each of these factors on the seven sub-sectors 1) Road Freight 2)Rail Freight 3)Warehousing 4)Waterways 5)Air Freight 6)Packaging and 7)Courier Services is likely to result in 3 million new jobs, upping the employment numbers in the sector from 10.9 million (current) to 13.9 million by 2022. As per the 2018 budget, public investment of Rs 6 lakh crore has been promised to infrastructure, of which 50% i.e. Rs 3 lakh crore will go into bui
Railway Minister Piyush Goyal on Saturday said he has been informed by the railway board that no diesel locomotives will be allowed in the Delhi area after March 2019, indicating that the national transporter was on track to completely phase out such locomotives by 2022. Speaking at the Institute of Railway Electrical Engineers, Goyal emphasised the need for transformation and change in the work culture of the Railways. “The Member Traction, Railway Board, has said that by March 2019, no diesel loco hauled train would be permitted in Delhi area...railways will be completely LED lit in the next eight months,” he said. Goyal also said that as of January 31, 2018, 279 electric locomotives have been built. “Now, let’s worry about how to convert this 279 into 1,000. We don’t have the lux
The finance ministry has sought a report from GSTN, the IT-backbone provider for GST, on glitches in the system that derailed the anti-tax evasion electronic way bill system on the very first day of launch. It wants GST-Network to detail system readiness before re-introducing the requirement for transporters to carry an electronic waybill or e-way bill for moving goods between states, said Finance Secretary Hasmukh Adhia. The e-way bill provision of the Goods and Services Tax (GST) was introduced yesterday but its implementation put on hold after system developed glitches in generating permits. Adhia said there is no going back on e-way bill, which is a tool for preventing tax evasion, and it will be re- introduced in "next few weeks" after the system is fully ready. Under GST,...
Notice Inviting Application (NIA) for Registration of Contractors in Eastern Coalfields Limited towards Transportation of Coal/Sand and Loading by Pay-Loader / Excavator. Sealed application in prescribed format is invited from the bonafide and experienced contractors for registration towards undertaking the work of: (i) Transportation of Coal. (ii) Transportation of Sand. (iii) Loading by Pay – Loader. (iv) Loading by Excavator. The Application form along with the Notice Inviting Application may be downloaded from ECL website www.easterncoal.gov.in and Government portal www.tenders.gov.in till 31.08.2018 from 01.09.2016. In that case, a Demand Draft (Non - Refundable) of Rs. 573.00 (Rupees Five hundred & Seventy three only), drawn in favour of Eastern Coalfields Limited payable a
Transport Contract for transportation of PLB HDPE Telecom Duct 200 KM from BSNL TF Gopalpur Kolkata-700143 to Port Blair & Mayabunder A& N Island on door delivery basis. Tender Ref. No : TFGP-PR-E Tender-17-0007 Tender Value Rs 77,00,000/- EMD : 154000 Document Cost : Rs 1000/- Eligible bidders are those who meet the eligibility conditions mentioned below: a) The eligible bidders should be Indian companies and or Firms. Firms registered as Transporter of goods with either Central Govt. OR State Govt. Authority. b) The Bidder shall have a minimum Annual Turnover of Rs One Crore from Transport Business during last Two years. Turnover Statement CA certified Turn over Certificate shall be submitted by th...
Bengaluru : Indian Institute of Materials Management (IIMM), Bengaluru Branch is going to conduct its National Convention 2017 (NATCOM) along with its annual signature programme SCALE (Supply Chain and Logistics Exposition). This programme is scheduled to be held in the garden city at Hotel Vivanta by Taj, M.G. Road, on 16-17 November, 2017. This event will provide a platform for sharing and exchange of knowledge, understanding of the current development and advances happening across the globe in the arena of supply chain management. Many of the industry experts and specialists have been invited to speak in the forum and share their view points on the theme of the convention. This is the era when Government of India is promoting Make in India concept and trying to infuse more capital
The Government has simplified the process for companies to set up an Inland Container Depot/ Container Freight Station (CFS)/Air Freight Station (AFS). The improved procedure is aimed at ensuring a speedier and more transparent approval process. Towards this objective, companies can now make their application online and view its progress/update on-line, without a visit to any government office. Also this is a pioneer attempt as a major Inter-Ministerial IT application rather than a mere Intra-Ministerial IT initiative. The approval process for setting up an ICD/CFS/AFS involves many departments. This is facilitated through an Inter-Ministerial Committee (IMC) which consists of officials from Ministries of Commerce, Finance (Dept. of Revenue), Railways and Shipping. If required, the view...
The Government of India’s strong emphasis on manufacturing and initiatives such as “Make in India” is boosting domestic production, which is bolstering the logistics industry. Logistics companies are making concerted efforts to keep pace with this growth in demand by digitizing their solutions and offering online freight services. These services will provide visibility across the supply chain and transform it into an organized industry. Some of the advanced technologies adopted include automated storage and retrieval systems (ASRS) in warehouse and transportation, radio frequency identification (RFID) in place of bar codes, and global positioning system (GPS) for real-time tracking. “In addition to riding the digital wave, logistics companies in India are strategizing for the transition