CII Current Affairs

First International Rail Coach Expo held in Chennai, Tamil Nadu

The first-ever International Rail Coach Expo (IRCE) was in Chennai, Tamil Nadu from 17th to 19th May 2018 to focus on Rail Coaches and train sets. Many reputed rail car and equipment builders showcased their technology and products in this expo.

Key Facts

The three day expo was hosted by Integral Coach Factory (ICF) Chennai, under the Ministry of Railways, in coordination with CII (Confederation of Indian Industries) and RITES Ltd. It provided unique platform to bring different suppliers under one roof and create synergy for “Make in India”. It saw participation of train enthusiasts, railway suppliers, designers, developers, and general public.

Integral Coach Factory (ICF)

ICF is manufacturer of rail coaches located in Chennai, Tamil Nadu. It was established in 1952. It is owned and operated by Indian Railways. It primarily manufactures rolling stock for Indian Railways and also exports railway coaches to other countries including Thailand, Myanmar, Taiwan, Zambia, Philippines, Tanzania, Uganda, Vietnam, Nigeria, Mozambique, Bangladesh, Angola and Sri Lanka. It employs about 11,095 people and manufactures about 2000 coaches per year.

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Department of Commerce and CII ink MoU for development of Logistics sector

The Department of Commerce has signed MoU with Confederation of Indian Industry (CII) for setting-up institutional mechanism for the development of Logistics sector in the country.

Both will work together for taking logistics sector to global levels both in terms of efficiency and cost. They will follow Commerce Ministry’s roadmap for modernizing logistics sector and bring it at par with the global best.

Road map

The road map aims to foster focused engagement with the industry and collaborate with the concerned agencies including state Government’s and other related agencies. It will also undertake mutually agreed focused studies on logistics and promote Government’s policies on logistics

Background

The Union Government has decided to reduce Logistics cost in country from the present 14% of GDP to less than 10% by 2022. For this purpose, a concerted effort in collaboration with Central Ministries as well as State Governments has been initiated for simplifying the regulatory processes in both domestic and EXIM (export-import) logistics. Government also has granted infrastructure status to number of logistics activities, which will enable them to avail cheaper and long term commercial loans.

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