It has been well documented over recent years that India has been one of the fastest growing economies in the world with GDP growth up from 6.9% in 2013/14 to 7.4% in 2014/15. Further increases are projected for the coming years with India set to invest heavily in infrastructure to the tune of USD 1 trillion by 2017.
The growth in India over recent years has led to over 50 cities now populated by more than 1 million people with this set to increase to 68 by 2030 as investment continues to be made. Part of that investment will focus heavily on the modernisation of airports, increasing port capacity and transport links with an improvement in road connectivity. The Indian government is in the process of developing the Delhi-Mumbai Industrial Corridor (DMIC) as a global manufacturing and investment destination. This is based on the high capacity western Dedicated Railway Freight Corridor (DFC) which is over 1480km long.
New manufacturing cities, logistic hubs and residential townships along the DFC are planned to be developed and will deliver infrastructure, public transport, power management and efficient water and waste systems. A total of 24 manufacturing cities are envisaged in the plan of the DMIC project, this is expected to be completed by 2019.
DMIC states (of which there are six, Uttar Pradesh, Haryana, Rajasthan, Madhya Pradesh, Gujarat & Maharashtra) will contribute 43% to the country’s GDP and more than half of India’s Industrial production and exports. A further Four corridors have been identified across the country as India looks to continue its growth, with the government building a pentagon of corridors as it aims to project the country as a Global Manufacturing destination for the world.
The first quarter of 2015 has returned steady FCL and LCL liftings for John Good Shipping with FCL rates in place until end of June. We find ourselves in an excellent position to push forward with our activities in the coming weeks and months.
With the continued success of our Turkey consol service and similarities in export commodities such as foodstuffs, textiles and automotive / agricultural products, we believe that we’re in a strong position to upsell to our existing customer base.
Our weekly consol service continues to offer a regular and reliable route from Nhava Sheva to Felixstowe in co-operation with our long standing partners, Interport Global Logistics.
As previously reported by our Commercial Manager, Paul Ferguson, in January, developments in our I.T systems have seen us recently “go live” with Automated Status Notifications, giving our customers accurate and timely information alongside our Webtracker facility.
Likewise with Turkey and the Far East, India offers John Good Shipping a wealth of opportunities in the freight forwarding division as the above mentioned plans for development and growth come to fruition.