GST to boost warehousing, logistics: JLL
By Sobia Khan, ET Bureau | Updated: Apr 15, 2017, 12.20 AM IST
BENGALURU: The roll-out of the goods and services tax and real estate investment trusts is expected to fuel the growth of warehousing stock across the country in the next few years.
“The warehousing, manufacturing and logistics industries will benefit the most from the implementation of GST in India and the new tax regime will also usher in an era of upgradation in the warehousing infrastructure,” said JLL India CEO Ramesh Nair (see more)
12 major ports post record profit:
By Rajat Arora | Apr 15, 2017, 12.57 AM IST
NEW DELHI: India’s 12 major ports posted a record profit of about `5,000 crore for 2016-17, powered by the shipping ministry’s focus on reducing the turnaround time of ships and adding various non-core commodities to its freight basket. These ports had reported a profit of Rs 4,000 crore in the previous fiscal.
“We have grown faster than the private ports. Our growth has been 6.79% compared to 4% of the private sector,” shipping and road transport minister Nitin Gadkari told ET(see more)
Balmer Lawrie invests Rs. 50 cr for building cold chain warehouses:
PTI| Kolkata, April 14
Miniratna PSU Balmer Lawrie & Co Ltd has said it is investing Rs. 50 crore for the construction of two cold chain warehouses to tap the growing demand for temperature controlled warehousing facilities.
Of the Rs. 50 crore, the PSU would be pumping some Rs. 33-34 crore from internal accruals as it has sufficient free cash, the company Chairman and Managing Director, Prabal Basu, said. The company is constructing two temperature controlled warehouses — one at Delhi NCR and the other at Patalganga, Maharashtra, Balmer Lawrie Director (Services) K Swaminathan told PTI (see more)
Automobile industry worth Rs 4.5 lakh crore, government has to look at holistic implications of SC judgment: Nitin Gadkari:
By TNN | Updated: Apr 14, 2017, 11.40 AM IST
After the Supreme Court ordered an end to sale and registration of BS-III vehicles on environmental grounds, Union Minister for shipping and transport Nitin Gadkari spoke to Sugandha Indulkar on the fallout of the decision, plans for expanding road infrastructure and the challenges therein (see more)