Ministry of Ports, Shipping, and Waterways to finance 30% of green shipping projects.
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Ministry of Ports, Shipping, and Waterways to finance 30% of green shipping projects.
In a move to accelerate the green transition of Indian shipping, the Ministry of Ports, Shipping, and Waterways (MoPSW) announced that it would cover a third of the finances for green shipping projects in the nation. The Centre under financial assistance for the shipbuilding scheme will provide 20 per cent (with a 3 per cent reduction each year) of funds for all vessels built by the industry. For green shipping, this will now be raised to 30 per cent of the project cost to incentivise the construction of vessels running on alternative fuels.“The primary aim is to let the shipbuilding industry know that green ships will be prioritised,” it said.
Not acquiring Gati, clarifies Delhivery.
Delhivery has clarified that the news regarding its potential acquisition of All Cargo Group’s Gati is factually incorrect. In a filing with the BSE, Delhivery stated that there have been no discussions whatsoever regarding this matter. Sometime back, reports were floating about Delhivery looking at fresh growth opportunities, and that acquisitions may be the inorganic route they will take to scale up. In that direction, the reports said that Tiger Global and SoftBank-backed Delhivery will be acquiring Gati and that both companies have been in negotiating stage for a month. Acknowledging its impressive hold on air cargo, the reports said that the acquisition may be a strategic move for Delhivery to strengthen its position in the trucking business, leveraging Gati’s expertise in surface logistics. However, both companies did not provide any details regarding the size or terms of the potential deal.?
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Kerala to undergo state-wide inspection to check safety at drug warehouses after massive fires.
Following the recent fires at Kerala Medical Services Corporation Limited (KMSCL) units in Kollam and Thiruvananthapuram, the Fire and Rescue Department has launched a state-wide inspection to check the safety features at various drug warehouses. With the pharmaceutical industry growing exponentially, India is expected to run an efficient end-to-end supply chain to meet the demand. However, such unfortunate incidents expose the gaps in the supply chain. While the demand for outsourcing is driving the growth of the pharma industry, factors such as the lack of efficient logistics support in emerging economies are likely to impede market growth, says a report by Technavio. In Indian pharmaceutical warehouses and distribution centres, increasing warehouse capacity, adopting new automation technologies, enhancing staff safety, and complying with tight FDA and CGMP rules – all at the same time – is not a piece of cake.?
The country’s first international multimodal logistics hub at Jogighopa is to be ready in the next few months.
Jogighopa in Assam will be the first international multimodal logistics hub in India, and as per reports it is going to be ready in the next couple of months. The Union Minister for Road Transport and Highways,?Nitin Gadkari said yesterday that it will be “a game-changer for the Northeast”, considering that it will be able to leverage the benefits of the inland waterways terminal at Brahmaputra River, the Rupsi Airport and the national highway network. The logistics park is being developed as part of the ambitious Bharatmala Paryojana.“We are making roads worth INR 3 lakh crore in the Northeast. This infrastructure is going to be very useful for accelerating the socio-economic transformation of the area. We are changing the parameters… and I feel it is going to be a game-changer which will develop the Northeast,”