Network of Freight Smart Cities

In a bid to improve economic competitiveness, reduce congestion and logistics costs, the policymakers recently announced their plans to devise a network of freight smart cities. While it is said that 10 cities are to be identified on an immediate basis, as many as 75 cities will be incorporated in the initiative’s second phase. The government has outlined 14 measures that can be collectively worked upon with the general public and various private stakeholders to improve India’s urban freight system.

From the looks of it, exports have remained somewhat unscathed from the havoc wrought by covid’s second wave. So, to keep up the momentum, the government is working on developing strategies to achieve the zealous export target of US$ 400Bn set for the current fiscal. Accordingly, the officials are busy chalking out regions/countries where exports can be increased while also listing the high growth potential items. Experts revealed South Africa to be one such export market on the radar which has grown four times in the last 1.5 decades. We hope that Indian exporters will avail of bigger trade opportunities in this nation after the scheduled virtual interaction between the diplomats of both countries.

Ministry of Commerce unveils plan for Freight Smart Cities

In a recent development, the Ministry of Commerce recently announced its plans to unveil freight smart cities which will improve urban freight efficiency besides creating an opportunity for logistics cost reduction. This initiative will further form city-level logistics committees which in turn will have related government departments and agencies at the local and state government levels.

Govt working on detailed strategy to achieve export target of $400 billion

The Centre is working on a detailed strategy to achieve the ambitious goods export target of $400 billion set for the current fiscal and is looking at region-wise and product-specific breakups, so that focussed initiatives and decisions for accelerating growth could be taken, according to officials close to the development.

India will witness strong economic recovery after second wave: Jaishankar

Expressing confidence over India's economic recovery amid the COVID-19 pandemic, External Affairs minister S Jaishankar on Tuesday said that the country is exiting a second Covid-wave and will witness a strong economic recovery.

How Latin America continues to be a large market for India’s exports

India’s exports to Latin America amounted to $12.74 billion in 2020-21 (April-March), according to the figures released by the Commerce Ministry of India. The exports to the region have declined marginally by 3.3 per cent from $13.18 billion in 2019-20. This is not bad in view of the fact that India’s total global exports have declined by 7 per cent from $313 billion to $291 billion in the same period.

Plastic exports may jump 20-25 % in FY22; govt support needed: PLEXCONCIL Chairman

The country's plastic exports are expected to grow 20-25 % to $ 12 billion in the current fiscal year on account of favourable market conditions and increasing demand for domestic goods in key destinations such as the US and Europe, PLEXCONCIL Chairman Arvind Goenka said.