Rail logistics emerged as a cost-efficient mode, with an average cost of Rs 1.96 per tonne per km, significantly lower than road transport (Rs 11.03), while air transportation is the most expensive, albeit the fastest, mode of freight transportation, averaging Rs 72 per tonne per km, DPIIT said.
Nearly two-thirds of India's crude oil and half of the LNG imports pass through the Strait of Hormuz, a narrow waterway which could be at risk in the ongoing Israel-Iran war.
The impact in terms of increase in freight costs would be at least 10 percent and could go up to 30 percent, said Jitendra Srivastava, CEO, Triton Logistics & Maritime.
Bengaluru airport expects an increase in cargo movement due to the e-commerce boom and Foxconn’s upcoming mobile phone manufacturing plant in Devanahalli Industrial Area
According to the report, a total of 2,031 kilometres of railway network was commissioned in the current fiscal year during April to November, which was slightly slower than the 2,282 km of rail network was commissioned in FY24 during the same period.
Heelalige Goods Terminal, near Electronics City, is expected to meet the growing demand for goods transportation, serving both Bengaluru and Hosur regions.
Industry, government and stakeholders across the supply chain are working towards creating a robust and globally competitive logistics ecosystem which is the backbone of economic growth.
Going forward projects for three major corridors viz. (1) High-traffic density corridors, (2) Energy, Mineral and Cement Corridors and (3) Rail Sagar (port connectivity) corridors are also planned to reduce logistics cost, carbon footprint and boost railway freight volumes.
The interim budget tabled in the Parliament, earlier this year, signalled the government's relentless focus on strengthening infrastructure and connectivity for a broad-based economic growth.
The emphasis on enhancing port connectivity, developing railway corridors, and alleviating congestion in high-traffic corridors is set to enhance logistics efficiency.
The revenue from goods traffic earned by Indian Railways has gone up by Rs 4,626.92 crores to Rs 12,5106.2 crore during April-December in the current financial year from Rs 12,0479.3 crore in the same period last year.
With the deployment of the US-led OPG, Maersk said it was preparing to resume shipping operations. MSC Mediterranean is expected to hold a high-level meeting on December 27.
While there is expectation that global militaries will step in soon and secure the Red Sea and the Suez Canal by the end of the week, a prolonged delay in reusing them may lead to a 30-40 percent rise in cost of transportation
Seven specialised Hopper wagons to be used for iron ore transportation; JSW invests Rs 29.57 crore per rake
The govt has come up with an estimated total logistics cost for India, which will be made public by the end of Sept 2023, Sumita Dawra, Spl Secy in the Dept for Promotion of Industry and Internal Trade, said. This will help show a clear YoY comparison of how the NLP is helping reduce costs.
The shipping industry is showing signs of bottoming, but the COVID bonanza is long gone
The ministry will in July-September float tenders for the procurement of the 60,000 freight wagons, which may include a tender to procure 10,000 aluminum wagons as well.
Nirmala Sitharaman also urged states to keep up the pace of infrastructure projects at the meeting, which saw Chief Ministers from four states, ministers from nine states, besides senior officials from all the states attend the meeting.
Indian Railways missed its asset monetisation target in 2021-22. This is likely to be repeated in 2022-23 as well, when against a target of Rs 57,000 crore, it will likely raise only around Rs 20,000 - 25,000 crore.
The ministry of railways said that the freight earnings increased by 16 percent when compared to the same period last year.
TCI has already tested some of the application programming interfaces (APIs) available on ULIP.
Budget 2023: As per the revised estimates of the central government, Rs 15,388.05 crore will be spent for track renewal, Rs 3,220 crore will be spent for gauge conversion, and Rs 24,092.66 crore will be spent for doubling in 2022-23. A sum of Rs 24,914.07 crore will be spent on setting new lines as well in 2022-23.
Indian Railways’ focus on freight movement during the pandemic has resulted in Railways clocking over 18 percent growth in cargo loaded in the first three quarters of the present financial year 2021-22 over the corresponding period of the previous year, points out the Survey.
Rising number of COVID-19 cases in China has also affected the availability of workforce at major ports in that country.
Agarwal said that his company plans to invest Rs 200-250 crore as capital expenditure to boost capacity of its non-road assets in the next four years. Most of that will be used to acquire new ships, containers and working assets, and for the construction of warehouses.